Morning Call Sheet: Tech and momentum drive markets higher

• April was the second-best April ever for the S&P 500 (since 1950), with May historically showing positive returns 9 out of 10 times after such strong Aprils.
• The market rally is powered by earnings enthusiasm, particularly in Big Tech (Alphabet, Amazon, Microsoft) and energy, with strong cloud growth and strategic investments in AI.
• Despite higher oil prices, rising yields, and geopolitical tensions, the market has demonstrated an ability to 'put aside' these inconvenient factors, focusing on momentum and strong corporate fundamentals.

Financial market experts discuss the April rally, noting the S&P 500 and Nasdaq reached record highs, driven primarily by strong tech earnings and momentum despite geopolitical risks and rising yields. They suggest the 'sell in May and go away' adage may not apply this year, emphasizing the market's ability to overlook macro headwinds when corporate performance is strong.