Despite challenges, Berkshire’s profits illustrate the value of its business mix. The annual meeting could be more critical than usual. Buffett bought a mystery stock.

Inflation readings raised questions about Fed rate cuts before mid-year. Earnings from Walmart and NVIDIA will be closely watched for insights about the consumer and A.I.

Berkshire’s $347 billion investment portfolio was trimmed to 41 companies. Berkshire Hathaway added to its energy bet, and a new purchase remains a secret.

Improving expectations for economic growth sent yields higher and rate cut odds lower. CPI and retail sales this week will be crucial for the timing of future Fed easing.

The jobs report shows that economic growth remains robust, taking the March Fed rate cut off the table. More confidence in earnings has boosted stocks.