April was an impressive month for major stock market averages. May typically marks the beginning of a seasonal period of weakness in stocks, but recent momentum could continue into next month. Last month, the S&P 500 index surged more than 10%, its best month since November 2020. The Nasdaq Composite Index, up more than 15%, had its strongest monthly performance since April 2020, and the Dow Jones Industrial Average rose about 7%, its largest monthly gain since November 2024. .SPX Mountain 2026-04-01 S&P 500, performance since CFRA Research chief investment strategist Sam Stovall said in a note on Monday that “surprisingly strong earnings growth appears to be the driving force behind recent market moves as investors put oil supply issues behind them.” Stovall said the S&P 500 index’s performance in April was the index’s second-best performance in the month since 1945. It could bring further benefits. The strategist looked at the results of the top 25 stocks in April since World War II and found that the broad market index in these cases rose an average of 2% in May and 88% over the same month. But the latest rise in oil prices could be a major blow to that scenario, as the crucial Strait of Hormuz at the mouth of the Persian Gulf remains closed. Oil prices rose on Monday as tensions between the US and Iran escalated in the key corridor. Notably, the S&P 500 energy sector underperformed the broader market in April, falling more than 3%.
