Market Overview — Week of March 24, 2026
Equity markets remained resilient through a week packed with event risk. The S&P 500 pushed within 0.8% of all-time highs while the Nasdaq 100 outperformed, driven by continued strength in mega-cap tech.
Fed Minutes — No Rush to Cut
The Federal Reserve released minutes from its March meeting Wednesday, confirming the central bank remains in "wait and see" mode:
- 12 of 19 officials projected fewer than two rate cuts in 2026
- Language around "elevated uncertainty" regarding the inflation path
- Strong labor market data cited as reason for patience
Markets initially sold off on the release but recovered by end of session — a sign that investors are comfortable with the higher-for-longer narrative in the near term.
Nasdaq 100 — Tech Leads
NAS100 added 1.3% on the week, outperforming SPX (+0.6%). The outperformance was led by:
- Semiconductor stocks (+3.2% on the week) after Nvidia reaffirmed AI infrastructure demand
- Cloud computing names benefiting from enterprise AI deployment cycle
- Software stocks: SaaS multiples expanding as rate cut expectations drift out to H2
S&P 500 — Breadth Improving
Advance-decline data improved markedly this week:
- New 52-week highs: 312 (highest since December 2025)
- Stocks above 200-DMA: 71% (up from 65% two weeks ago)
- Sector rotation: Energy and Materials beginning to participate after lagging
Key Levels Going Into Next Week
SPX:
- Support: 5,560 (breakout level from March 14)
- Resistance: 5,780 (all-time high)
NAS100:
- Support: 19,600
- Resistance: 20,200 (all-time high zone)
Disclaimer: For educational purposes only. Not financial advice.