From Nasdaq: 2024-04-01 15:25:57

In Q1, U.S. equity benchmarks hit all-time highs after strong momentum and breadth readings in Q4. Despite a more hawkish Fed, equities continued to climb. Q4 GDP exceeded expectations at 3.4%, with Q1 GDP forecasted at 1.5%. Consumer spending fueled growth, with positive employment news. Federal Reserve projects lower real rates for year-end 2024 to support economic growth. S&P 500’s streak of double-digit gains is historic, with forecasts of +11% and +13% in EPS for CY 2024 and CY 2025. Market breadth is improving, with large-cap and growth stocks leading the way. Market performance is positive, with various sector gains in Q1. The Fed remains supportive, forecasting looser monetary policy despite inflation. Analysts expect YoY EPS growth in Q1 to continue for S&P 500 companies, following previous quarters of decline. Market breadth has been improving, with equity benchmarks hitting new highs. S&P 500 broke records, while Russell 2000 and Microcap are on the rise. MidCap Value Index is breaking out from resistance levels.



Read more at Nasdaq:: March, First Quarter 2024 Review and Outlook