Market domination is a pretty apt name today because all three major averages are closing at records.The S and P up by about 1.2%.The CP I coming in a little bit lighter than had been estimated retail sales bang on flat here.
So when you think about the headwinds we talked about during the April drawdown and you're rising tenure, right?Well, in the last month, we've sort of reversed that conversation when you add that up, it kind of makes sense that the markets rally.
Now, this is the first time Belskis moved his target yet this year, we've been talking a lot about the strategists moving.And Belski normally sort of labeled as bullish on the streets of coming out with the highest target here.He talked about being comfortable with the fact that market momentum is kind of here to stay and trying not to avoid that.
And I just thought it was interesting is we're talking about all time highs across all three indexes.We've been talking about the individual stocks and the fact they're doing better, right? Um And David, as I mentioned, one of the reasons you've been doing that is, is offering folks yields to, to get them um from unbanked to bank in some cases or to take market share from your competitors.
However, our goal is to have the very best deposit and savings account in the market for that, we need high yield and a number of different functionalities. Uh And David, I do wanna get your, your take on one metric I saw here I I was reading David, your Q one did show an increase in delinquencies.So we just announced or Q one result has been really record across all the different uh numbers.We had over 40% return on equity.
We've uh participated insignificantly in donations in the area and we are extending and lengthening significantly payment terms for all the different consumers that we have. You have Broadcom Qualcomm applied materials, KL A microchip that go, the list goes on and then you add to that alphabet JP Morgan.Hopefully something that continues as we look for that.Well, Cisco shares are rising in after hours trading after delivering, delivering a beat on the top and bottom line, the company also lifted its full year revenue guidance, Morningstar tech equity analyst, William Kirwan is joining us now to talk us through this here.
Uh Well, I, you know, let, let's say you're on this conference call coming up here and you have the chance to ask uh Co Chuck Robbins a few questions.I think top of mind for us right now is, you know, buying Splunk is great and getting that inorganic growth. And so that's a big number, but against a, you know, roughly $50 billion top, we don't think it will be a significant contributor to overall firm results in the medium term.
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