The S&P 500 is off to its best start since 1998, booking a first quarter gain of 13.1%! And this comes at a surprise to many in light of an inverted yield curve, trade wars, slowing worldwide growth, lower incomes and spending, etc.
Inflation remains in check, which should keep interest rates low. The stock market likes that, although lower rates have been a drag on banking stocks and the banking XLF and KRE ETFs.
The broader markets were able to eke out a small gain last week. While insignificant compared to the bearish downside reversal the prior week, they were able to withstand continued selling on Monday and set a low for the week.
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