How the US stock market rocketed through the Q1?
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The US stock market has had a strong start in 2024, with the S&P 500 climbing over 10% in the first quarter, its biggest gain since 2019. The Nasdaq Composite also reached a record high in late February. Investors are optimistic about the economy, with two-thirds of fund managers predicting a 'soft landing' and only 11% projecting a 'hard landing'. The dovish Federal Reserve meeting and rising confidence in artificial intelligence have contributed to the market's success. While tech and growth stocks performed well in 2023, this year has seen a broader rally with sectors like tech, communication services, energy, financials, and industrials outperforming the S&P 500. Some megacap companies, like Nvidia and Meta Platforms, have seen significant gains, while others, like Apple and Tesla, have faced challenges. Overall, the stock market's positive performance has led to higher valuations and increased risk appetite.

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