The S&P 500 rose 0.91%, while the Nasdaq climbed 1.12%. The Dow Jones Industrial Average moved up 0.55%. The MSCI EAFE Index, which tracks developed overseas stock markets, added 0.58%.1,2
No April Showers This Year
Markets were under pressure early in the week as investors focused on stalled peace talks and rising oil prices.3
But midweek, momentum shifted. First, the Fed announced it was holding interest rates steady, as expected, but there was some dissent over the decision. Then investors' attention focused on Wednesday’s closing bell, when several big-name companies reported Q1 results.4
Investors mostly liked what they heard, and stock prices rose, ending April on a high note. The Dow led the broad market rally while the S&P 500 and Nasdaq each logged their best monthly performances in 5 years.5
Stocks rose again on Friday as oil prices fell. Investors applauded Q1 results from another high-profile megacap tech company, which helped the S&P notch another all-time intraday high.6
Fed Funds Rate Unchanged
The Federal Reserve voted 8-4 to keep interest rates steady at the April meeting, leaving the Federal Funds Rate at a 3.5 to 3.75 percent target range. Market observers were quick to point out that the 8-4 decision was the Federal Open Market Committee’s most divided vote since 1992.7
At the last FOMC press conference of his eight-year tenure, Fed Chair Powell announced he would stay on as a Fed governor after his term as Chair expires on May 15. Earlier that day, the Senate Banking Committee confirmed Kevin Warsh as the next Fed Chair, setting up a final confirmation vote in the Senate.7
Economic Data To Watch
Monday: New York Fed President John Williams speaks.
Tuesday: Trade Balance. Job Openings. New Home Sales (Feb* + March). ISM Services. Federal Reserve speeches: Michelle Bowman, Michael Barr.
Wednesday: ADP Employment Report. Chicago Fed President Austan Goolsbee speaks.
Thursday: Weekly Jobless Claims. Productivity. Construction Spending (Feb* + March). Consumer Credit. Federal Reserve speeches: Neel Kashkari, John Williams.
Friday: Fed governor Lisa Cook speaks. U.S. Employment Report. Wholesale Inventories. Consumer Sentiment. Fed panel: Chicago Fed President Austan Goolsbee, San Francisco Fed President Mary Daly, Fed governors Michelle Bowman and Christopher Waller.
* indicates federal data release delayed by government shutdown
Source: Investors Business Daily - Econoday economic calendar; May 1, 2026. The Econoday economic calendar lists upcoming U.S. economic data releases (including key economic indicators), Federal Reserve policy meetings, and speaking engagements of Federal Reserve officials. The content is developed from sources believed to provide accurate information. The forecasts or forward-looking statements are based on assumptions and may not materialize. The forecasts are also subject to revision.
Upcoming Earnings Reports
Monday: Palantir Technologies Inc. (PLTR), Vertex Pharmaceuticals Incorporated (VRTX)
Tuesday: Advanced Micro Devices, Inc. (AMD), Arista Networks, Inc. (ANET), Pfizer Inc. (PFE)
Wednesday: The Walt Disney Company (DIS), Uber Technologies, Inc. (UBER), AppLovin Corporation (APP), CVS Health Corporation (CVS)
Thursday: McDonald’s Corporation (MCD), Gilead Sciences, Inc. (GILD), McKesson Corporation (MCK)
Source: Zacks, May 1, 2026. Companies mentioned are for informational purposes only. It should not be considered a solicitation for the purchase or sale of the securities. Investing involves risks, and investment decisions should be based on your goals, time horizon, and risk tolerance. The return and principal value of investments will fluctuate as market conditions change. When sold, investments may be worth more or less than their original cost. Companies may reschedule their earnings reports without notice.
Footnotes And Sources1. WSJ.com, May 1, 2026
2. Investing.com, May 1, 2026
3. CNBC.com, April 28, 2026
4. WSJ.com, April 29, 2026
5. CNBC.com, April 30, 2026
6. CNBC.com, May 1, 2026
7. WSJ.com, April 29, 2026
Source: YCharts.com, May 2, 2026. Weekly performance is measured from Monday, April 27, to Friday, May 1. TR = total return for the index, which includes any dividends as well as any other cash distributions during the period. Treasury note yield is expressed in basis points.