S&P Rises Above Record Close as Markets Finish a Strong Quarter

All major indices closed the quarter on a positive note Thursday after news that the economy had expanded more in Q4 than was previously estimated by the government. The S&P 500 closed above it’s previous record high and has gained nearly 10% in the first 3 months of 2013. The Dow and Nasdaq also finished with strong quarters, up 11.1% and 7.9% respectively. Unemployment claims rose more than expected last week, but most analysts did not see these numbers as a sign of weakening labor market recovery.  A reminder to our readers that the markets will be closed tomorrow, 3/29, in observance of Good Friday.

Word on the Street

• Google (GOOG) announced that it’s upcoming Glass will be made exclusively in the U.S.
• Chesapeake Energy (CHK) said that it’s search for a new CEO would extend beyond the April 1st deadline.
• Amazon (AMZN) and Overstock.com (OSTK) lost a challenge to the N.Y. web sales tax.
• Accenture (ACN) reported a rise in Q2 profit, beating estimates.
• The Dow closed with it’s best first quarter since 1998.

Interesting Tidbits

• Team leader who shared PowerBall winnings talks about her unique office culture.
• Solar-powered plane set for flight across America.