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Stocks in Q1, Fed rates, Bankman-Fried sentencing: 3 Things

Yahoo Finance

Stocks (^DJI, ^IXIC, ^GSPC) could be on their way to close out first-quarter 2024 on a positive note, seeing first-quarter gains across the board for the first time in several years. Thursday is the final trading day for the month of March and the quarter in this shortened trading week.

Federal Reserve Governor Chris Waller has stated he is in "no rush" to cut interest rates in 2024 after the past months' inflation data.

Former FTX (FTT-USD) CEO Sam Bankman-Fried is set to be sentenced Thursday morning on charges related to defrauding customers of the crypto platform.

For more expert insight and the latest market action, click here to watch this full episode of Morning Brief.

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Editor's note: This article was written by Luke Carberry Mogan.

Video transcript

[MUSIC PLAYING]

- So let's get right to it. The three things that you need to know. Your roadmap for the trading day. Yahoo Finance's Josh Schafer, Jared Blikre, and Jennifer Schonberger have more.

- Hey, Charla. Stock futures are searching for direction this morning as markets are set to close out their best first quarter in five years. The first three months of the year have brought a broadening to this stock market rally with what largely started as a megacap driven surge in stocks has extended to energy and materials to close out March.

- Plus, the Fed's path to rate cuts. Federal Reserve Governor Chris Waller says he's in no hurry to cut interest rates after hotter inflation data in the first two months of the year. The data-dependent Fed may still expect rate cuts this year, but they're not ready to take that step without further evidence that inflation continues to drop.

- And Sam Bankman-Fried, former CEO of failed crypto exchange FTX, set to be sentenced today by a Manhattan federal judge after a jury found him guilty last fall on seven charges, including wire fraud conspiracy, securities fraud, and money laundering. Bankman-Fried faces up to 110 years in prison. Prosecutors have asked for 40 to 50 years. Bankman-Fried's lawyers have requested 6 and 1/2 years.