Markets closed out April on a decidedly bullish note Thursday, with all major indices finishing solidly in the green. The S&P 500 gained 0.99% to close at 7,193.79, while the tech-heavy Nasdaq added 0.93% to end at 24,238.96. The Dow Jones Industrial Average led large-cap benchmarks, climbing 1.63% to 49,352.11.
Small caps stole the show, with the Russell 2000 surging 2.16% to 2,768.58 — a signal that risk appetite has broadened well beyond mega-cap technology names. The outperformance of smaller companies suggests growing investor confidence in the domestic economic outlook as the month comes to a close.
Alphabet was the session's standout story, rocketing 9.96% to $384.80 on the back of a blowout earnings report. The gains helped offset a sharp selloff in Meta Platforms, which dropped 8.55% to $611.91 as investors punished the social media giant for heavy forward spending commitments despite headline numbers coming in reasonably well.
Gold continued to reflect underlying macro uncertainty, with the precious metal sitting at $4,626.37 — a reminder that even as equities rally, demand for hard assets remains historically elevated heading into May.