Stocks Finish Month at Record Highs, Best Since 2020

US equities surged to close out April with the S&P 500’s best month since November 2020, gaining 10.4% to close above 7,200 for the first time. GDP data showed AI-driven business investment powering the economy through the Iran war headwinds, while Japan intervened in currency markets for the first time in two years, sending the yen surging 2.5%. The S&P 500 rose 1% to 7,210.24, the Dow jumped 1.6% to 49,651.95, and the Nasdaq gained 0.9% to 24,892.31. After hours, Apple reported record revenue but shares dipped 0.7%. Oil retreated from a $126 intraday spike to settle at $105.35 WTI. The ECB and BOE both held rates steady.