Posted 4/2/2024, 7:25:40 PM
Stocks Soar in Q1 Despite Delayed Rate Cuts, Led by AI Tech Boom
- Stocks gained over 10% in Q1 2024, led by tech stocks that benefit from AI boom; total returns near 30% over last 12 months
- Gains occurred despite diminished expectations for Fed rate cuts in 2024
- Value stocks also joined the rally
- Bond performance hurt by Fed putting off rate cuts until mid-year
- Q2 outlook economy avoided recession and is stronger than expected, but sticky inflation pushed Fed rate cuts to at least June