Equities rose with the S&P 500 up around 1% for the year, driven by reduced trade policy uncertainty with China and gains in technology and consumer discretionary sectors. Q1 earnings exceeded expectations significantly, but fewer companies provided forward guidance compared to last year. Interest rates increased but economic data later boosted bonds, with the 10-year yield finishing at 4.43%, and markets expect two rate cuts in 2025. Commodities saw minimal movement despite fluctuations in oil and gold, and economic data showed mixed results with retail sales slightly up and consumer sentiment hitting near-record lows.

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