U.S. stocks ended the first quarter strongly, with their market capitalization soaring by $4 trillion

Although the latest speeches by Federal Reserve officials reinforced the view that officials are not in a hurry to cut interest rates, the latest data showed that the economic situation is good, pushing the S&P 500 index to a record high for the 22nd time this year. The U.S. stock market capitalization has soared by $4 trillion in just three months, much to the surprise of doomsayers and the rush of Wall Street strategists to update their 2024 forecasts. “We think it’s the market’s view of where the economic fundamentals are headed, not the views of any one economist or strategist,” said Lori Calvasina, a strategist at RBC Capital Markets. The S&P 500 rose to 5,254.35, ending the first quarter with a gain of more than 10%. Data shows that since 1950, the S&P 500 has risen by double digits for two consecutive quarters only five times.