Stock Funds Zoom to 9.1% Gain in First Quarter
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Stocks saw significant gains in the first quarter of 2024, resulting in positive outcomes for average stock-fund investors. The average U.S.-stock fund experienced a 9.1% increase, while stock funds as a whole rose by 21.1% in 2023. International-stock funds also had a positive quarter, rising by an average of 5.4% following a 16.3% return in 2023. The performance exceeded expectations, with major indexes setting records in March. However, lingering uncertainties around a potential interest rate cut by the Federal Reserve and high stock valuations create a sense of caution among investors.