May 1 Update

Oil up – Stocks up??  How can this be? 

Strong 1st quarter earnings, AI investment, re-shoring.

EPS strong growth.

·        245 S&P 500 companies reported YOY EPS up 34%

·        42 of Nasdaq 100 companies reported EPS up 55%

ATH - April strongest month since 2020

Dow + 7.1%

S&P 500 +10.4%

Nasdaq + 15.3%

Russell + 12.1%

XLK – technology SPDR – up 20% in April.  2nd best month ever!  Inception was in 1998.  Best month was in early 2000. 

No clear end to the Iran conflict but there is a sense that blockade might be forcing Iran and China to find a solution.