S&P, Nasdaq Post Best Month in 5 Years:
Stocks rose last week as investors looked past stalled Middle East peace talks to focus on corporate earnings.
The S&P 500 Index rose 0.91%, while the Nasdaq Composite Index climbed 1.12%. The Dow Jones Industrial Average moved up 0.55%. The MSCI EAFE Index, which tracks developed overseas stock markets, added 0.58%.1,2
Source: Bloomberg Finance, L.P. (Performance data normalized 04/24/26 = 0)
April: Best Month in Five Years for S&P, Nasdaq
Markets were under pressure early in the week as investors focused on stalled peace talks and rising oil prices.3
But midweek, momentum shifted. First, the Fed announced it was holding interest rates steady, as expected, but there was some dissent over the decision. Then investors’ attention focused on Wednesday’s closing bell, when several big-name companies reported Q1 results.4
Investors mostly liked what they heard, and stock prices rose, ending April on a high note. The Dow led the broad market rally while the S&P 500 and Nasdaq each logged their best monthly performances in 5 years.5
Stocks rose again on Friday as oil prices fell. Investors applauded Q1 results from another high-profile megacap tech company, which helped the S&P notch another all-time intraday high.6
Sources: U.S. Department of the Treasury, Board of Governors of the Federal Reserve System, Charles Schwab
Fed News
The Federal Reserve voted 8-4 to keep interest rates steady at the April meeting, leaving the Federal Funds Rate at a 3.5 to 3.75% target range. Market observers were quick to point out that the 8-4 decision was the Federal Open Market Committee’s most divided vote since 1992.7
At the last FOMC press conference of his eight-year tenure, Fed Chair Powell announced he would stay on as a Fed governor after his term as Chair expires on May 15. Earlier that day, the Senate Banking Committee confirmed Kevin Warsh as the next Fed Chair, setting up a final confirmation vote in the Senate.7
This Week: Key Economic Data
Source: Bloomberg Finance L.P.
This Week: Companies Reporting Earnings
Source: EarningsWhispers
Author
Gary Aiken
Chief Investment Officer
Concord Asset Management
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Footnotes and Sources
1WSJ.com, May 1, 2026
2Investing.com, May 1, 2026
3CNBC.com, April 28, 2026
4WSJ.com, April 29, 2026
5CNBC.com, April 30, 2026
6CNBC.com, May 1, 2026
7WSJ.com, April 29, 2026
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