From Equity Research
Signs of a robust economic recovery and accelerating vaccinations in the U.S. helped fuel broad based market gains in March. The combination of the new $1,400 stimulus checks with the announcement of a major new infrastructure proposal helped reinforce the magnitude of fiscal stimulus efforts being pursued in the U.S. Reflecting shifting sentiment, there was a noteworthy decline during March in the VIX Index or “Fear Gauge” which ended the month below 20 reflecting growing market confidence. For the full month, the Dow Jones Industrial Average increased 6.6%, the S&P 500® index increased 4.2%, and the smaller cap weighted Russell 2000® increased 0.9%.