Mar 27 | Daily Finance News

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U.S. STOCK PICKS

Closing: 4:00 PM EST

The S&P 500 rose Wednesday, closing at a record and snapping a three-day string of losing sessions.
The broader market index gained 0.86%, while the Dow Jones Industrial Average advanced 477.75 points, or 1.22%. It was the first winning day in four for both indexes. The Nasdaq Composite rose 0.51%.
As of Wednesday’s close, the S&P 500 has added nearly 3% in the month and 10% in the quarter. The Nasdaq has climbed 1.9% in March and about 9.3% during the three-month period, while the Dow has added 1.9% and roughly 5.5% during the respective periods.
This would mark the best first-quarter gain for the S&P 500 and 30-stock Dow since 2019 and 2021, respectively, when the indexes rose 13.1% and 7.4%. All three major averages are on pace to notch their fifth straight winning month and second consecutive positive quarter.
A majority of investors believe a stock market pullback is near, according to CNBC survey.
Amazon spends $2.75 billion on AI startup Anthropic in its largest venture investment yet.

Canadians cutting back on restaurant spending, turning to takeout, amid high cost of living.

*All information sourced from news portals such as CNBC, Yahoo Finance, Reuters, etc.

Stocks rise as S&P 500 tries to snap 3-day losing streak.
The two best-performing stocks in the S&P 500 include Cintas, up 8% on the back of better-than-expected earnings.
Shares of Merck were up nearly 5% — hitting a new all-time high — after the Food and Drug Administration passed approval for Winrevair, the company’s life-threatening lung condition treatment, for use among patients with pulmonary arterial hypertension.
Later in the week, investors will watch for data on jobless claims, gross domestic product and consumer sentiment on Thursday. While the market is closed on Good Friday, attention will be on releases tied to personal income, consumer spending and the personal consumption expenditures expected in the morning.
U.S. stocks have ‘limited upside’ from here, says Goldman Sachs Asset Management.
Applications to refinance a home loan fell 2% for the week and were 9% lower than the same week one year ago. Applications for a mortgage to purchase a home decreased 0.2% from the week before and were 16% lower year over year.

The Canadian government’s recently announced plans to soft-cap temporary resident numbers should pave the way for interest rate cuts to happen sooner and more frequently, but could have “adverse consequences” for the overall economy, according to Desjardins.
Oil falls for second day as US crude inventories surge.
Business leaders say housing biggest risk to economy: KPMG survey