Economy not derailed by energy shocks so market is looking past it, says Bespoke's Paul Hickey

• Nasdaq's 11-day winning streak and S&P 500 hitting record highs indicate market optimism.
• Underlying economy remains strong with high bank loan growth and low unemployment, despite negative headlines about oil prices and disruptions.
• Q1 earnings are largely pre-war, with many banks beating estimates, suggesting economic resilience.
• Companies' forward guidance will be key to watch for the impact of current events.
• Semiconductors (AI infrastructure) are highlighted as a leading indicator of the digital economy, continuing to hit new highs.

Paul Hickey of Bespoke Investment Group discusses the market's optimism despite negative headlines, citing strong underlying economic data like bank loan growth and low unemployment. He highlights that Q1 earnings largely predate the full impact of recent geopolitical events, and companies are generally beating estimates. The market is looking past immediate disruptions, focusing on positive guidance and the continued strength of leading sectors like AI infrastructure and semiconductors.