Azzad MarketWeek
Stocks advanced last week as investors moved past stalled progress in Middle East peace talks and refocused on corporate earnings.
The Standard & Poor’s 500 Index rose 0.91 percent, while the Nasdaq Composite Index climbed 1.12 percent. The Dow Jones Industrial Average moved up 0.55 percent.
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.
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.
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.
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.
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