The View from 5th Avenue

The View from 5th Avenue – 7 May 2024

After last week’s rush of news and data, the markets are currently sitting in a period of a quiet economic calendar and fewer companies reporting earnings. So far, 425 of the S&P 500 have reported and the balance will cycle through the next couple of weeks. Earnings growth has held up (+5.5% y/y) as have sales (+3.9%), and this is providing the support indexes need to stay near their all-time highs. Equities are also benefitting from the Fed’s reiteration that they see the first rate move as be…

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