NEWS
The Worst Month/Quarter Since 2022

Stocks battled back to close out the quarter on a high note, but that was not enough to erase the last thirteen weeks of turbulence. The major indexes posted their worst quarterly performance since 2022 as stagflation concerns, geopolitical uncertainty, and inflation fears all weigh on sentiment. Meanwhile, the April 2nd tariff deadline quickly approaches. 👀 

Today's issue covers a quarterly performance recap, the latest M&A deals, Newsmax going max bid during its IPO, Strategy snagging more Bitcoin, and more from a momentum-filled Monday. 📰

Here’s the S&P 500 heatmap. 11 of 11 sectors closed green, with consumer staples (+1.56%) leading and technology (+0.15%) lagging.

And here are the closing prices: 

STOCKS
Momentum & M&A Overshadow The Mayhem 😬 

It was a solid Monday in the market, but it capped off a lackluster month and overall first quarter of 2025. The Nasdaq 100 recorded its worst quarterly loss since early 2022, falling over 8% in just the second down quarter in the last nine. 📉 

Tech and consumer discretionary led the downside this quarter, both falling by double digits. Notably, communication services and industrials were the only other sectors down, and by less than a quarter of one percent. Energy led the way, rising nearly 10%, while defensive areas like healthcare, utilities, and consumer staples benefited from investors seeking safety from uncertainty. 🛡️ 

Fintech platform Rocket Companies is back on the hunt, just weeks after purchasing Redfin. It’s now looking for a much bigger whale, acquiring Mr. Cooper Group in an all-stock transaction valued at $9.4 billion. 🚀 

The combined servicing portfolio will exceed $2.1 trillion in unpaid principal balance, or one in every six mortgages in America. It’ll also gain an understanding of nearly seven million additional clients and 150 million annual customer interactions.

LPL Financial Holdings announced a $2.7 billion all-cash acquisition of Commonwealth Financial Network. LPL Financial CEO Rich Steinmeier said that the acquisition complements LPL’s client-centric culture, and its service philosophy enhances the value collectively brought to all advisors across the LPL network. 💸 

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