S&P 500 had best week since early Nov 2023, +2.7% after 3 weeks of losses, as corporate earnings generally surprised to upside; Dividend Aristocrats was only S&P 500-related strategy to close week in red, -0.1%, while Tech took home trophy, +5.1% ⁦@SPDJIndices⁩ pic.twitter.com/rZBdI2x2Fp

This week’s #markets were supposed to be mainly about earnings, with macro taking more of a back seat ahead of next week’s US #jobs data, the #FederalReserve meeting, #China’s PMI, etc (more on this in the weekly look ahead that I will post later). Earnings did have a notable… pic.twitter.com/8lYAakVct5

JPMORGAN: “.. we remain concerned about the repeat of last summer’s drawdown, where the Growth-Policy tradeoff could move away from the Goldilocks narrative, together with a continued risk of concentration reversal, too steep projections for earnings acceleration this year, ..… pic.twitter.com/N57avE6A7p

FUNDSTRAT: “.. Two weeks ago, we noted that equities were about to face a ‘fragility test’ given the dual risks of fears of inflation resurgence + Middle East conflict .. but ultimately we expected stocks to survive this test. As we exit April, the rally of the past week has… pic.twitter.com/trhv4fRN69