First quarter reporting season has begun in the US, with analysts predicting a second consecutive quarter of negative growth. Despite this, the S&P 500 index has risen around 8% this year. Investment Analyst Dr Deborah Lambie talks to Heather du Plessis-Allan about the reason behind these gains, the rise in purchase of luxury brands, and how large American state banks have benefited from the recent distress in the US banking sector.