Stocks Rally to Record Highs in Strongest Quarter in Years Amid Economic Optimism
• The S&P 500 and other major stock indexes rallied to new record highs in Q1 2023, posting their best quarterly gains in years amid economic strength and optimism about corporate earnings and AI.
• The economy showed further signs of strength with GDP growth, consumer confidence, and jobless claims data, although inflation remains hot and the Fed reiterated that rate cuts aren't imminent.
• Top S&P 500 gainers in Q1 were Super Micro Computer, Deckers Outdoor, Nvidia, and Constellation Energy, while Tesla, Humana, Charter Communications, Boeing, and Lululemon were among the worst performers.
• Notable upcoming earnings reports this week include Lamb Weston, Paychex, Acuity Brands, Levi Strauss, RPM International, and Conagra.
• Several S&P 500 companies including Comcast, Cisco, Campbell Soup, JPMorgan, and Bristol-Myers are set to have their ex-dividend dates this week.