Market Update

Stocks Fell in April After Five Straight Months of Gains

Listen to Buska Wealth Management’s 3-minute Market Update featuring the latest market and economic news.

Highlights include:

  • The S&P 500 Index, the tech-heavy Nasdaq and the Dow Jones Industrial Average all decreased about 4% for the month. Only one of the 11 sectors in the S&P 500 rose in value.
  • April marks only a short-term setback in the market: In the first four months of 2024, the S&P 500 has gained 6% and over the past year, it has risen over 22%.
  • Corporate America remains strong which bodes well for future gains. First-quarter earnings of the S&P 500 companies that have reported so far have experienced an average earnings growth rate of 3.4%, which is the third consecutive quarter of year-over-year earnings growth.1
  • Stocks fell during the month as investors realized the Federal Reserve might not lower the federal funds rate in 2024.
  • At the beginning of the year, as many as six rate cuts were expected in 2024. Now future rate cuts appear uncertain due to persistent inflation.

1 FactSet, 4/26/24

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