REITs Excel, Earnings Swell, Fed Rebels

U.S. equities extended a five-week rally as strong corporate earnings, resilient economic data and hopes for easing Middle East tensions outweighed a fresh oil-price surge and inflation concerns. The S&P 500 led by example with a weekly gain, helped by roughly 80% of companies beating Q1 earnings estimates, while the tech-heavy Nasdaq 100 paced the advance. The Fed held rates steady in an unusual 8-4 vote and Powell signaled he will remain on the Board, adding political uncertainty around succession. REITs reported broadly positive results, with numerous guidance raises and M&A activity supporting real estate equities despite higher rates.