I am not expert in artificial intelligence, although I do have a basic grasp of its expected benefits balanced by the possible social implications. However, this article focuses on A.I. from an investor's perspective, since the stocks of companies that can attach themselves even loosely to the A.I. narrative have taken off like a rocket.

Equities were better in the US and Europe. UST yields were marginally changed. Gold and Bitcoin soared to record highs. The Dollar was up

Earnings and economic data (especially inflation data) continued to improve risk sentiment. The yield curve inversion ended. Dollar better

It was a bifurcated week all about NVDA, which soared post-earnings, validating the AI narrative. European & Japanese equities hit records.

Although the advance in equities slowed, it certainly did not stop even as yields pushed higher off of better-than-expected PMI data.

Tech companies drove the 7% return of the S&P 500 in the 1Q23. Without the "magnificent seven", the index would have been flattish.