Stocks Hold Record in Countdown to Tech Earnings: Markets Wrap

Stocks held at record highs before a raft of megacap earnings that will test whether April’s rally is sustainable, with traders also awaiting updates from major central banks on the economic fallout of the Iran war.

While the pace of equity gains was more subdued, the S&P 500 remained on track for its best month since 2020. Brent crude topped $108. While a ceasefire has mostly held since early April, shipping blockades have cut daily transits through the Strait of Hormuz to near zero, prolonging the supply disruption that has jolted markets around the world.