Despite uncertainty surrounding potential Fed rate cuts, economic strength and diminishing recession fears led to the best Q1 U.S. market performance since 2019, with the S&P 500® up 11%. Mega-cap dominance was pervasive, with the S&P 500 Top 50 up 12%.
The broadening of the rally continued in March, with the S&P MidCap 400® up 6%, outpacing the S&P 500’s 3% gain.
Except for Real Estate, all sectors posted gains in Q1, led by Communication Services and Energy.
