S&P 500 closes higher to secure strongest Q1 since 2019

The Dow Jones Industrial Average rose 47.29 points, or 0.12 per cent, to 39,807.37, the S&P 500 gained 5.86 points, or 0.11 per cent, to 5,254.35 and the Nasdaq Composite lost 20.06 points, or 0.12 per cent, to 16,379.46.

“And then you've got that carrot that the Fed's kind of holding out there saying, we may just be lowering and we may just be lowering, and everybody's trying to parse their words.”While US equity markets will be closed for the Good Friday holiday, the focus will be on the release of the Personal Consumption Expenditures Price Index , the Fed's preferred inflation gauge, for clues on the timing and size of rate cuts this year from the central bank.

Overnight, Fed Governor Christopher Waller said recent disappointing inflation data affirms the case for the central bank to hold off on cutting its short-term interest rate target, but did not rule out trimming rates later in the year. Walgreens Boots shares rose 3.19 per cent after its quarterly earnings in which it recorded an impairment charge on its investment in clinic operator VillageMD.

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