Britain’s economy grew by the most in nearly three years in the first quarter of 2024, ending the shallow recession it entered in the second half of last year and delivering a boost to Prime Minister Rishi Sunak ahead of an election.
Results for: Recession
– Global financial markets rallied in 1Q24, with large-cap tech stocks leading the way.
– Strong economic data and continued momentum trading in AI-related stocks outweighed hawkish FOMC commentary on higher interest rates.
– Interest rates rose, but expectations for a recession receded.
– Large-cap stocks outperformed small-cap stocks, with the NASDAQ continuing to rally despite rising interest rates.
– Large-cap dominance was concentrated in a few companies such as Amazon, Microsoft, Meta, and Nvidia.