S&P 500 Up 10% in April as Oil Prices Surge
Get the Finance newsletter
Daily finance — markets, central banks, M&A, the prints that move money. Free.
- S&P 500 rose more than 10% in April, hitting seven record highs and marking its best month since November 2020.
- Nasdaq surged 15% in April, achieving its strongest monthly performance in six years, driven by AI‑related stocks.
- US Treasury 10‑year yield reached 4.4% in late April, its highest since March, pushing 30‑year mortgage rates to about 6.3%.
- Federal Reserve kept interest rates unchanged at its April 29 meeting, and traders now expect the policy to stay on hold until 2027.
- Strait of Hormuz remained effectively closed, contributing to oil prices climbing over 50% since the Iran war began, with Brent peaking at $126 per barrel before settling around $114.
- Bill Merz said corporate earnings strength offset Middle‑East conflict uncertainty, driving the market rally.
- Iran war‑related tensions have kept the Strait of Hormuz blocked, fueling higher energy costs and a U.S. average gas price of $4.30 per gallon, the highest since 2022.
Why it matters: Investors with U.S. equity exposure enjoy portfolio gains, while borrowers and consumers face higher mortgage and gas costs as bond yields and oil prices climb; the rally underscores corporate earnings strength but masks rising living expenses and borrowing costs for households.
