On Q1 Earnings, AI Investors & China's Latest Clampdown

An accounting rule inflated the S&P 500 companies’ aggregate Q1 EPS to a record high and catapulted their collective y/y EPS growth to nearly 30%. Without the non-operating gains, Joe reports, the index’s EPS still grew 20% y/y but not to a record high. Several Mag-7 companies’ earnings were boosted as a result. Joe backs out the paper gains. … Also: Melissa discusses AI use in investment decision-making. It’s not just a research support tool anymore. … And: William discusses how China stifles the innovation it hopes to foster.