Q1 GDP Isn't Gangbusters, But Shows Firm Footing

Amid all the handwringing over the war in Iran, Q1 US GDP accelerated. Though war affected only March—and Strait of Hormuz traffic remains constricted—ongoing growth and less conflict since then should help quell fears it is having an outsized effect on the economy’s functioning. We think stocks see this, too, and didn’t wait for confirmation. Read Full Article »