Nasdaq 100 futures slip ahead of first trading day of the second quarter: Live updates
The Nasdaq surged during the first three months of the year and Wall Street is now turning to the second quarter.
On Sunday night, Nasdaq 100 futures fell as Wall Street focused on the beginning of the second quarter.
Futures for Nasdaq 100 fell 0.36% while futures for S&P 500 fell 0.22%. The Dow Jones Industrial Average futures were unchanged.
Futures moves come before Monday's first trading day in the second quarter. Despite turmoil in the banking industry, highlighted by the March collapse of Silicon Valley Bank, all three major averages were positive for the first quarter.
The Nasdaq composite led the way with 16.8% gain as tech stocks rebounded after a devastating slide last year. This was the index's strongest stretch since the second quarter 2020.
The S&P 500 gained 7% over the first three months of this year, making it its second consecutive positive quarter. The Dow industrials lag but still managed 0.4% growth.
"For the moment, tech is considered a safe haven for all things and immune to the latest in banking. In a note to clients, Frank Gretz, a Wellington Shields technical analyst, stated that the S&P 500 seems to be held together by its heavy weighting in Tech names like Apple, Microsoft and the like.
Wall Street will have a shorter week in the first quarter because trading will be shut down for Good Friday. Investors will still have access to key economic data, including data on job openings on Tuesday, ADP's private payrolls report Wednesday, and the closely-watched monthly jobs report Friday.