Strongest Monthly Gain Since 2020

Highlights include:

• In April 2026, the S&P 500 Index of the largest stocks in the U.S. posted its strongest monthly gain since 2020, rising 10.5% and reflecting a sharp rebound in equities after the market’s decline in March.
• Market results varied across company sizes and investment styles. While stocks broadly moved higher, with nearly 70% of companies posting a positive April return, returns were strongest in large-cap, growth-oriented companies.
• Mid-cap stocks rose nearly 8% and small-cap stocks gained 10% in the month, though both trailed the more concentrated leadership seen in growth stocks. For example, the S&P 500 Growth Index gained nearly 15% in April relative to the S&P 500 Value Index’s 6% increase.
• S&P 500 sector performance further highlights this difference in monthly returns. Communication Services, Information Technology and Consumer Discretionary led the market while Consumer Staples, Utilities and Health Care delivered modest results.
• Energy was the weakest sector, falling 3% in April, despite ongoing geopolitical tensions and volatility in oil prices, which also contributed to renewed inflation concerns and reinforced expectations for a “higher for longer” interest rate environment.

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Katharine E.W. Dudley, AIF^®
Senior Vice President, Client Advisor

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