Despite still-elevated inflation and rate cut uncertainty, all three major stock market indices posted gains in Q1 2024 amid a tight labor market, economic strength, a continued earnings recovery, and AI optimism.
We entered 2024 more bullish than we’ve been in the last two years. We believe better margins (due to AI-enhanced productivity + lower inflation), an earnings recovery, and an accommodative Fed will be catalysts for equities, and we think these dynamics will continue to provide support throughout 2024.
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