Stocks Limp into May with First Monthly Loss of 2024

The Fed's 'higher for longer' interest rate rhetoric appears imminent

Managing Editor
Apr 30, 2024 at 4:23 PM
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Stocks ended April on an ugly note, weighed down by lackluster corporate reports and some unsavory economic data. The Dow suffered a 570-point loss, stumbling into the close at session lows. The S&P 500 and Nasdaq followed suit, as investors get skittish ahead of comments from Fed Chair Jerome Powell tomorrow, where more 'higher for longer' rhetoric is expected. All three major indexes finished April with their first monthly losses of 2024. 

Continue reading for more on today's market, including:

  • 25 stocks to target in May, historically.
  • 25 stocks to sell in May, historically.
  • Plus, BTC stock cools; two earnings winners; and McDonald's lackluster move. 

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NYSE Nasdaq 0430

5 Things to Know Today

  1. Home prices in U.S. cities continue to climb. (MarketWatch)
  2. Cannabis stocks could enjoy a decriminalization boost. (Reuters)
  3. Crypto stock feels Bitcoin pinch.
  4. Not every earnings report was a disaster today.
  5. McDonald's stock just can't get going.

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Oil, Gold Log Very Different Aprils

Oil prices continued to slink back, as geopolitical tensions simmer amid potential ceasefire negotiations. June-dated West Texas Intermediate (WTI) crude fell 70 cents, or 0.9%, to settle at $81.93 a barrel. For the month, black gold fell 1.5%

Gold prices also fell today, but clocked a 3.3% gain for April. June-dated gold futures shed 2.2% to settle at $2,303.90 per ounce.  

 

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