Stocks had their best month in decades despite ending on a down note, with the S&P 500 rising 13% in April, its biggest monthly gain since 1987
U.S. stocks finished their best month in decades on a downbeat note after data on spending and unemployment further revealed the extent of the coronavirus pandemic’s damage.
The S&P 500 fell 0.9%, reversing Wednesday’s gains when the Federal Reserve reassured investors that it is in no hurry to end its stimulus programs. Despite a choppy month, the index wrapped up April with a gain of about 12.7%.
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