finance
US Stocks Post Best Monthly Gains Since 2020; S&P 500 Hits Record High
Major US stock indices closed April with their strongest monthly performances since 2020, driven by robust tech earnings. The S&P 500 rose 10.4% to surpass 7,200, while the Nasdaq climbed 15.3% and the Dow gained 7.1%. Investors overlooked disruptions from the Iran war and focused on Big Tech results.
Apr 30, 6:21 PM·2m read6 sources
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US stocks concluded April with significant gains, marking the best monthly performance for major indices since 2020. The S&P 500 increased 10.4%, closing above 7,200 for the first time, according to multiple reports. These gains occurred amid strong earnings from technology companies, which helped reverse a sluggish start to 2026.
The tech sector faced pressures earlier in the year from concerns over artificial intelligence disruptions.
Earnings reports from big tech firms exceeded expectations, boosting investor confidence. Alphabet, Amazon, and Microsoft all reported revenue and cloud growth that beat forecasts. Alphabet's shares surged 34% in April, its best monthly performance since October 2004.
Amazon's stock rose 27%, while Broadcom gained 35%. Qualcomm shares increased nearly 40%, marking its strongest day since the previous year on the final trading session. Micron shares climbed 53%, and Advanced Micro Devices rose 74%. Nvidia gained about 14%, its best month since June of the prior year.
Intel's stock doubled in April, the company's best monthly gain in its 55-year history. These advances contributed to the Nasdaq's overall performance.
The rally persisted despite external challenges, including disruptions from the Iran war, as reported by Semafor. Investors focused on selecting winners in Big Tech amid an AI spending increase. Year-to-date, the Nasdaq Composite is up 7%, with most gains occurring in April after a 7% decline by the end of March.
The Dow's April performance was its best since November 2024, according to Benzinga, though other sources cited November 2020.
Benzinga highlighted stock picks from Wall Street analysts, noting the S&P 500's record settlement. CNBC corrected a statistic on Qualcomm's stock performance in its reporting. Meta shares fell 9% on the final day after announcing higher capital expenditure spending but still gained nearly 7% for the month.
