Earnings are plugging away; better numbers from communication services and technology sectors pulled the S&P 500 up nearly +1% for the week. That contributed to a +1.5% April and +8.6% YTD. However, economic news didn't thrill most people: Q1 GDP was up +1.1%, which was much smaller than Q4's +2.6% expansion. Expectations were for a +2% figure. Inflation has come down--the PCE report showed a +4.6% YoY change for March, compared to +4.7% in the previous month, but nowhere close to what the Fed wants.
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