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“If you plan on being anything less than you are capable of being, you will probably be unhappy all the days of your life.” – Abraham Maslow

Morning stock market summary

Below is a snippet of commentary from today’s Morning Lineup. Start a two-week trial to Bespoke Premium to view the full report.  

Welcome to the new quarter! It’s a quiet start to the day, week, month, and quarter as much of the rest of the world remains closed in observance of Easter, but looking back, outside of a handful of countries, natural gas, and fixed income, the first quarter of 2024 picked up right where 2023 left off.  You’d have to be living under a rock not to know that the S&P 500 ended March with a five-month winning streak, and along with it, the Nasdaq has also traded higher in each of the last five months in what was the second five-month winning streak in the last year.

In its history dating back to 1971, the current winning streak is the 25th time that the Nasdaq has had a winning streak of at least five months. The current streak is the fourth of the post-COVID era, but heading into Covid, the Nasdaq was also up for five straight months from September 2019 to January 2020 before falling over 6% in February 2020.  Overall, for all of the 24 prior five-month streaks, the Nasdaq’s median performance in the following month was a gain of 1.2% with positive returns nearly 63% of the time. More recently, though, four of the last five streaks have ended in the fifth month.

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