Stock Market Winners & Losers: Stocks Ready to Start New Quarter | Gmail’s 20th Birthday | Solar Eclipse is Coming, So is Big Spending

Winner: Stocks steady to start new quarter
Wall Street started the second quarter strong, with inflation rising by 2.8% in February according to recent data. The S&P's historical performance suggests that the rally may continue, as it has ended higher in 10 out of 11 instances when gaining 10% or more in the first quarter.

Other Stories:
1) Fidelity cuts its stake in Musk's X by 73% to $5.28 billion from $44 billion since Musk's acquisition in October 2022.
2) Gold hits a new high at $2245/ounce, driven by expectations of U.S. interest rate cuts. It has outperformed the S&P 500 since the Fed began raising rates in 2022, rising 20% compared to the stock market's 14% increase.

Winner: Gmail’s 20th birthday
Launched on April 1, 2004, Gmail disrupted the email landscape by offering a groundbreaking 1 gigabyte of storage, a stark contrast to competitors' limits. Initially mistaken for an April Fools' joke due to Google's reputation for pranks, Gmail accounts were highly coveted, fetching up to $250 on eBay. Today, with approximately 1.8 billion users, Gmail remains a staple in digital communication. Its innovative features, including expansive storage, efficient search capabilities, and threaded conversations, have revolutionized email management. Continuously evolving, Gmail now integrates AI tools for drafting emails, searching archives, and enhancing security, ensuring its enduring relevance.

Winner: Solar Eclipse Is Coming. So Is Big Spending
The upcoming total solar eclipse on April 8 is expected to drive a surge in tourism and consumer spending along its path. With an estimated 4 million people traveling to areas within the zone of totality, spending between $400 to $500 each, hotels are fully booked in cities like Dallas, Indianapolis, Cleveland, and Rochester. Businesses are offering special eclipse weekend packages, projecting significant boosts in spending on dining out, rental cars, and souvenirs. Overall, direct spending is estimated to reach $1.6 billion to $2 billion, with an additional $6 billion economic impact including income benefits for service employees. Despite not being a typical tourist destination, Indiana anticipates hosting half a million visitors during the event.

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