Nice overview of the past quarter, via the WSJ:
U.S. stock prices extended their rally during the first quarter, battling back from a steep February selloff amid continued global economic and political uncertainty.
The trends that had helped share prices stage a remarkable recovery in 2009 continued to provide a favorable backdrop for U.S. stocks. Corporate earnings again came in stronger than expected and the battered U.S. economy continued its convalescence.
The Dow Jones Industrial Average gained 4.1% or 428.58 points during the first quarter, to 10856.63. That marked the Dow’s fourth consecutive quarterly gain and the best first-quarter performance since 1999. The broad Standard & Poor’s 500-stock index rose 4.9% to 1169.43, but remains 25% below its all-time high posted in October 2007.
Bull Muscles Through Tumult
WSJ, APRIL 1, 2010