Weekly Headings

The S&P 500 is delivering robust 1Q26 earnings growth of 27%, supported by a consumer-led resilience and a historic boom in corporate capital expenditures. While geopolitical tensions in the Middle East influence commodities, mega-cap tech remains the primary driver of US market outperformance.

Key Takeaways

• 1.Consumer spending remains healthy despite record-low sentiment due to gas prices.
• 2.Mega-cap tech (MAGMAN) continues to dominate with 59% YoY EPS growth.
• 3.Corporate capital expenditure is surging at its fastest pace since 2007, driven by AI and R&D provisions.

Table of Contents

• Key Takeaways
• Chart of the Week
• Economy
• May 11 – May 15
• Equity
• Fixed Income
• Washington Policy
• Commodities
• Charts of the Week
• Asset Class Performance
• Weekly Data
• Disclosures
• Investment Strategy

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