Wall Street Closes Stellar Quarter on Up Note
Stocks closed their strongest quarter in more than two years on a positive note on Friday, led by recently underperforming sectors, including energy and health care.
Despite falling six out of the last nine sessions, the S&P 500 gained 12 percent in the first quarter, its best start of the year since 1998 and the best overall quarter since the third quarter of 2009. The broad-market average sits just off four-year highs.
Apple shares, down 1.7 percent at $599.55, ranked among the day’s losers and reined in the Nasdaq. Still, the iPhone maker’s stock soared 48 percent this quarter to close with a market capitalization of $558.9 billion.
Investors flocked Friday to consumer-oriented shares after data showed U.S. consumer spending rose by the most in seven months in February, though personal income rose only modestly.
The S&P consumer staples sector index rose 0.65 percent in Friday’s session.