Alain’s Holdings
| Symbol | Name | Price | Change | Change % |
|---|---|---|---|---|
| VOO | Vanguard S&P 500 ETF | 660.58 | +6.34 | +0.97% |
| QQQ | Invesco QQQ Trust | 662.23* | +0.66* | +0.10%* |
| XIU.TO | iShares S&P/TSX 60 ETF | 49.18* | -0.40* | -0.81%* |
| VRT | Vertiv Holdings Co. | 328.49 | +22.31 | +7.29% |
S&P 500 Breaks 7,200 for the First Time. April Goes Down as Best Month Since 2020.
Wall Street closed April on a high note — literally. The S&P 500 rose 1.02% to close at 7,209.01, its first close above the 7,200 threshold.
The Nasdaq jumped 0.89% to 24,892.31, hitting new intraday and closing records as well.
The Dow Jones Industrial Average added 790.33 points, or 1.62%, to settle at 49,652.14.
The broad market index jumped more than 10% in April — its best month since November 2020.
The Big Picture: Earnings vs. Everything Else
The rally shows that investors are leaning heavily on earnings resilience to look past geopolitical turmoil, which means there’s a higher risk of a quick tumble if companies begin to signal that war-driven costs are squeezing growth. “There’s this big tug of war, but the earnings side is winning so far,” said Angelo Kourkafas, senior global investment strategist at Edward Jones.
📊 Economic Data: GDP Misses, Inflation Bites
The U.S. economy grew just 2.0% quarter-over-quarter in Q1, missing the 2.3% estimate.
PCE rose 0.7% month-over-month and 3.5% year-over-year, while
Core PCE rose 0.3% MoM and 3.2% YoY. A key Fed inflation gauge climbed 0.7% in March — the sharpest monthly jump in years — pushing the annual rate to 3.5% as gas prices drove costs further from the Fed’s 2% target.
California gasoline prices hit $6.01 per gallon on Thursday — a 30% increase since the U.S. and Israel launched the war against Iran in late February — the highest level since October 2023.
🛢️ Oil Pulls Back (But Stays Scary)
Brent crude futures hit their highest in nearly four years on fears of a protracted disruption in oil markets, after an Axios report said President Trump was slated to receive a briefing from the leader of U.S. Central Command on new plans for potential military action against Iran. While they retreated from their peaks, oil prices remain elevated at around $110 a barrel. Wall Street Horizon
🏆 Today’s Big Winners
🟢 Alphabet (GOOGL) +9–10% Alphabet gained 10% — its best performance since April 2025. The stock added over a third in the month of April, its best month since 2004.
🟡 Caterpillar (CAT) +10% — Record High Caterpillar shares popped nearly 10% after the company reported better-than-expected quarterly figures and upped its annual revenue outlook. CAT surged on 22% revenue growth, driven by 41% Power Generation sales growth from data center demand.
💊 Eli Lilly (LLY) +9% Eli Lilly reported 56% revenue growth to $19.8 billion, with Mounjaro up 125% and Zepbound up 80%, and lifted full-year sales guidance by $2 billion.
📱 Qualcomm (QCOM) +16% Qualcomm was up 16% after reporting a beat in its second quarter earnings report, with analysts intrigued by the company’s disclosure that a leading hyperscaler custom silicon engagement is on track for initial shipments later this year.
🛳️ Royal Caribbean (RCL) +6% Royal Caribbean popped 6% after adjusted earnings for Q1 came in at $3.60 per share, topping the $3.20 expected.
📉 Today’s Notable Losers
Meta Platforms tumbled 9% after hiking its full-year capital expenditure guidance to $125–$145 billion, raising concern over its AI spending. That forecast overshadowed a better-than-expected Q1 report.
Microsoft fell 3.8% and Nvidia dropped 4%, joining Meta in the tech selloff. However, despite Big Tech’s drag, every sector of the S&P 500 advanced today.
Ford Motor beat Q1 revenue and earnings expectations but shares fell more than 3% as investors focused on one-time gains and continued EV unit losses. Stellantis fell about 5% after weaker-than-expected free cash flow overshadowed stronger revenue and profit.
🍎 After the Bell: Apple Beats — Tim Cook’s First Report Since Departure Announcement
Apple reported earnings and revenue for its fiscal second quarter that topped analysts’ estimates, driven by growth in the company’s services business. EPS came in at $2.01 vs. the $1.95 estimate, and revenue hit $111.18 billion vs. the $109.66 billion expected. Services revenue reached $30.98 billion vs. $30.39 billion expected, with gross margin at 49.3% vs. the 48.4% estimate.
iPhone sales rose 22% in the quarter from a year earlier, though they missed estimates for the second time in three quarters. The results mark the first time Apple faced Wall Street since the announcement that Tim Cook will be stepping down as CEO after 15 years, with John Ternus named as his successor effective September 1.
🔭 What’s Next
With April in the books as a historic month, attention now turns to May. The Iran conflict, a new Fed Chair in Kevin Warsh, Apple’s post-earnings reaction, and whether the AI capex boom translates into returns will define the next chapter for markets.
April 2026 by the numbers: The S&P 500 gained over 10% — its best month in over 5 years — despite an oil shock, a Fed on hold, and a war in the Middle East. Earnings carried the market on its back.
The Apple moment: Tim Cook’s first earnings call since announcing his September exit was a clean beat across nearly every line. The CEO transition to John Ternus is now Wall Street’s next big storyline to watch heading into May.
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