Energy stocks outperformed the broader market in the first quarter of 2024, and energy was the best performing sector in the S&P 500 in March. Tracey Ryniec, Value Stock Strategist at Zacks, joined Benzinga's "PreMarket Prep" Monday and discussed what the sector's recent outperformance could mean moving forward.
President Biden and China's President Xi Jinping spoke for the first time since 2023, discussing issues such as trade and national security, including concerns about AI and semiconductor technology.
First quarter of 2024 saw S&P 500 index surge by 9.94%, with energy and communication services sectors leading the pack. Top-performing stocks include MPC, VLO, TRGP, FANG, PSX, and META.
The S&P 500 had a 10.6% total return in Q1, following a 22.3% gain since September. This historic streak is driven by strong earnings and economic resilience. Nasdaq predicts continued gains.
The opening quarter of the year ended with U.S. equity indices marking the fifth consecutive month of gains, gold prices soaring to all-time highs and Bitcoin‘s (CRYPTO: BTC) market cap surging by over $500 billion in the past three months.