Nasdaq's Best Quarter Since 2020 Caps Wild First Quarter for Stocks.

The stock market surged on Friday to cap a first-quarter rally that saw the Nasdaq gain more than 16% while the S&P 500 rose 7% as investors shook off a bank crisis and more interest rate hikes from the Fed. A slowdown in inflation could ease pressure the Federal Reserve feels to continue with its rate-hiking campaign. Data on consumer sentiment from the University of Michigan showed consumers were more downbeat on their prospects this month, as sentiment dropped for the first time since November.