S&P 500 Index - Daily Chart - Apr 1 - 30, 2024 (Source: Tradingview)

April 1

In April, the stock market experienced a decline, with a downward trend prevailing for every two advancing stocks. The Dow lost 240 points, while the S&P 500 Index ended 0.20% lower. In contrast, the Nasdaq managed to secure a modest gain of 0.21%. Investors have become cautious in response to the Federal Reserve's rate-cutting plans, which have resulted in rising bond yields.

April 2

Financial markets experienced significant declines, with the Dow posting a loss of 396 points. The S&P 500 Index and the Nasdaq also faced notable deficits, slipping by 0.72% and 0.94%, respectively. Concerns over persistent inflation and robust economic growth contributed to a rise in yields, with the 10-year Treasury yield reaching 4.36%. This surge in bond yields dampened the performance of high-growth stocks, particularly in the technology and semiconductor sectors, which were adversely affected.

April 3

The market partially emerged from its downward trend and saw a blend in the major indices. Dow stocks declined by 0.11% (-43 points), whereas the S&P saw a slight uptick of 0.11%, and the Nasdaq finished the day 0.21% higher. Intel reported operating losses in its semiconductor manufacturing division, which weighed on the Dow's performance.

April 4

Despite an initially strong start, the trading day saw stocks lose momentum as it progressed, resulting in widespread declines. The Dow plummeted by 530 points, while the S&P and Nasdaq also experienced notable drops of 1.23% and 1.55%, respectively. Market sentiment was weighed down by concerns related to the ongoing conflict in the Middle East and uncertainties surrounding potential interest rate cuts amid inflationary pressures.

April 5

Towards the end of the week, major indices staged a recovery, although they failed to fully recover from earlier losses. The Dow surged by 300 points, with the S&P and Nasdaq also experiencing gains of 1.11% and 1.28%, respectively. A positive signal was provided by a stronger-than-expected March jobs report, indicating strength in the labor market and the overall economy.

April 8

Kicking off the week with a relatively subdued performance, stocks saw little movement as interest rates and 10-year bond yields climbed. Each of the major averages experienced slight declines, with the Dow slipping by 0.03% (-11 points), the S&P by 0.04%, and the Nasdaq by 0.05%. Investor caution prevailed as they awaited forthcoming inflation reports.

April 9

The major indices showed a mixed performance, yet stocks generally faced declines, influenced by selling pressure. The Dow experienced minimal movement, recording a slight 9-point drop, while the S&P edged up by 0.14% and the Nasdaq showed a more significant increase of 0.39%. Investors eagerly awaited the release of the March Consumer Price Index report, recognizing its potential to significantly impact market dynamics.

April 10

Stocks retreated in response to unexpectedly strong inflation data, dampening hopes for imminent rate cuts. The Dow witnessed a substantial decline of 422 points, accompanied by a 0.95% slide in the S&P and a 0.87% decrease in the Nasdaq. Federal Reserve officials emphasized the importance of gaining further confidence in inflation trends before considering any adjustments to interest rates.

April 11

Technology bolstered the market with major names such as Amazon and Nvidia lifting the market. The tech-heavy Nasdaq rose 1.65%, the S&P climbed up 0.74%, though the Dow went down a meagerly 2 points. The Producer Price Index came in at a much lower level than expected, contrary to the CPI which was much higher than estimates.

April 12

An intensifying war in the Middle East brought immediate pressure onto Wall Street and its investors. Dow stocks drew back 475 points along with the S&P and Nasdaq which respectively fell 1.46% and 1.66%. Concerns about a wider conflict between Israel and Iran are deepened with reports that the former is preparing for a direct attack by the latter.

April 15

The market continued to be pushed down by rising yields which overcame a strong earnings report from Goldman Sachs. Dow stocks declined by a 248-point margin, the S&P went down 1.20%, and the Nasdaq lost 1.65%. Hot retail data and hopes for a non-escalating war boosted the market, only for it to tumble under rising interest rates.

April 16

In a choppy trading session characterized by a risk-averse sentiment, the stock market experienced mixed results. Dow stocks closed higher, gaining 63 points, while the S&P 500 declined modestly by 0.21%. The Nasdaq, on the other hand, remained nearly flat with a marginal gain of 0.04%. The primary concern in the economic landscape continues to be the rising interest rates, reflected in the steady increase of the 10-year Treasury yield.

April 17

During this trading session, chip stocks led Wall Street to its decline, as opposed to growing bond yields. Stocks in the Dow lost 45 points, the S&P 500 index fell by 0.58%, and the tech-heavy Nasdaq index suffered a 1.24% loss. Despite four straight days of declines, the market has managed to hold firm, keeping losses relatively modest.

April 18

The market continues the week with a five-day losing streak, guided along in the hands of failing tech stocks. Dow stocks managed to eke out a 22-point gain but the same can’t be said for the S&P (-0.22%) and especially the tech-heavy Nasdaq (-0.57%).Semiconductors primarily brought down the tech sector while the Dow managed to flatline for 2024.

April 19

Wall Street witnessed a choppy ending to a harsh week where tech stocks put weight on the broad indexes. Dow stocks went up 211 points, being the winner for the day, the S&P lost 0.88%, and the Nasdaq continued to be dragged down by tech with a 2.05% deficit. Nvidia led an aggressive selloff in the semiconductor sector along with the Nasdaq’s decline with a staggering 10% loss.

April 22

With a new week a new direction was taken by the market with the break of a 6-day losing streak. The Dow rose 263 points, the S&P climbed 0.87%, and the Nasdaq lifted itself with a 1.02% gain. Chip stocks particularly experienced a comforting rebound with semiconductor ETF going up almost 2%.

April 23

The market held up strongly throughout the trading session due to a report of manufacturing and services coming in lower than expected.The Dow rose another 263 points with the S&P rising 1.20% and the Nasdaq being the biggest winner for the day with a 1.51% increase. With investors hungry for signs of cooling off inflation, the manufacturing and services reports coming in sub-expectations served as well-sought relief.

April 24

Bond yields swiftly rose after a 3-day low period, overturning a rally and bringing a mixed ending to the trading session. Dow stocks lost 42 points and the S&P remained flat at a 0.02% gain whereas the Nasdaq made a yield of 0.32%. Investors await upcoming inflationary reports which are due for disclosure in the upcoming Thursday and Friday.

April 25

With both a weak GDP report and faults in earnings from Mehta and IBM, stocks quickly receded into red territory. Dow stocks tumbled down 375 points with the S&P and Nasdaq modestly declining 0.46% and 0.55% respectively. Though stocks were hit hard and likewise fell far too, most managed to end well off session lows.

April 26

The release of a significant inflationary gauge provided a boost to stocks, helping to recover losses incurred throughout the month. The Dow surged by 153 points, while the S&P saw a gain of 1.02%, and the Nasdaq ended the day notably higher by 1.65%. The Personal Consumption Expenditures Index showed a 0.3% increase, aligning with market expectations.

April 29

Market momentum persisted on an upward trajectory, with the Dow climbing by 146 points, the S&P showing a gain of 0.32%, and the Nasdaq also rising by 0.36%. Notable contributors to the Dow's ascent included Boeing, Apple, Caterpillar, and Goldman Sachs, with the latter nearing a new high. Tesla saw a remarkable surge of 15%, emerging as a focal point of upward momentum for the broader market.

April 30

The broader market slipped as investors awaited the Federal Reserve's rate decision, with Nasdaq 100 futures dropping by 2.04%, while Dow plunging 570npoints and the S&P sliding 1.57%. Bond yields rose following higher-than-anticipated employment cost index data, reigniting concerns about the Fed maintaining high interest rates. Traders now focus on the Fed's interest rate decision, seeking guidance from Fed Chair Jerome Powell on future rate adjustments amidst persistent inflationary pressures.