S&P 500 Pushes To All Time Highs On First Economic Contraction In Three Years

What do you do when GDP prints twice as bad as expected... buy stawks! And so it is that -1.0% GDP print for Q1 has been greeted with a buying drive in S&P 500 futures to lift it back near all-time record highs this morning. Gold, silver, and the USD are also rising.. and bond yields are rising very modestly.

 

S&P is up...

 

But the Nasdaq is leading...

 

Leaving the S&P 60 points rich to bonds...

 

And here's why everyone's bulled up...

 

Charts: Bloomberg