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Stock futures were flat Thursday as the S&P 500 approached its best first-quarter performance in five years.
Futures for the Dow Jones Industrials gained 19 points to 40,163.
Futures for the S&P 500 dipped 0.5 points to 5,307.75.
Futures for the NASDAQ Composite dropped 2.75 points to 18,501.
For the quarter, the S&P 500 is up about 10%. It is on pace for its best first-quarter gain since 2019, when it rallied 13.1%. The 30-stock Dow, up 5.5% during the period, is tracking for its strongest first-quarter performance since 2021 when it advanced 7.4%. The NASDAQ is up 9.3% in the quarter thus far.
On a monthly basis, the S&P 500 is up 3%. The NASDAQ and the Dow are both pacing for advances of more than 1.9%.
Driving the gains this quarter and month has been Nvidia, last year’s market leader, as the artificial intelligence craze shows no signs of slowing. The stock is up 82% for the quarter and 14% in March alone.
Investors on Thursday are awaiting data on jobless claims, gross domestic product and consumer sentiment.
Although the market will be closed due to Good Friday, economic data tied to personal income, consumer spending and personal consumption expenditures will be released that day.
In corporate news, shares of luxury home furnishings retailer RH jumped 8% after management indicated that demand trends are expected to accelerate throughout fiscal 2024. Nevertheless, the company missed estimates in its latest quarter and issued a weak outlook for the first quarter.
In Japan, the Nikkei 225 dipped 1.5%, while in Hong Kong, the Hang Seng index slid 0.9%,
Oil prices gained $1.13 to $82.48 U.S. a barrel.
Gold prices soared $20.40 to $2,232.70 U.S. an ounce.
