The S&P 500 is up +9.9% so far in April, on track for its best monthly performance since November 2020.
This follows a -5.1% decline in March, the largest monthly drop since April 2025. This rally has been driven by semiconductor stocks, which are up +37.2% month-to-date.
Over the same period, Magnificent 7 stocks are up +16.1%. As a result, the S&P 500 has now posted 10 all-time highs year-to-date.
If the index rises by another +1 percentage point, that would make April the 2nd-best month in at least 10 years.
