John Hancock: Weekly Market Recap Week Ended March 28

Style rotation

An index of U.S. large-cap growth stocks lagged its value counterpart by a big margin, widening the value equity style’s year-to-date outperformance following growth’s market leadership in 2024. The growth index was down about 2.6% for the week while a value index slipped 0.4%. Year to date, the growth index was down 10.0% versus a 1.2% gain for its value peer.

Gold shines

The price of gold climbed for the fourth week in a row, extending a year-to-date surge that briefly pushed the precious metal’s price above the $3,100-per-ounce level for the first time. On Friday afternoon, gold was trading around $3,116, up about 17% year to date.

Tariff announcement

The new week could again put global trade tensions in focus, as President Donald Trump recently said that he expects to announce plans on Wednesday for the United States to impose reciprocal tariffs on key trading partners. The scope of any such tariff increases could hinge on trade reports that are due to the president on Tuesday from his secretaries of commerce and treasury.

Jobs ahead

The next monthly labor market report due out on Friday will show whether the moderate slowdown in jobs growth seen in the first two months of 2025 extended into March. In February, the economy generated 151,000 new jobs, up slightly from 125,000 in January but well below the figures in the last two months of 2024.

SOURCE: https://www.jhinvestments.com/weekly-market-recap#market-moving-news