Stocks Rebound in Q1 2024 Despite Lingering Economic Concerns
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The US stock market climbed over 10% in Q1 2024, erasing losses from the 2022 bear market. Gains were driven by big tech stocks like Nvidia, Microsoft, and Meta.
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Value stocks narrowly outperformed growth stocks. Energy and industrial stocks also saw strong gains.
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Bond prices fell and yields rose in Q1 as markets pushed back expectations for Fed rate cuts from March to June 2024.
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Oil prices ticked higher, benefiting energy stocks but putting pressure on inflation. Gold prices also rose amid economic uncertainty.
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Bitcoin soared over 60% to an all-time high in Q1 after the approval of the first spot bitcoin ETFs spurred huge demand.