Stocks Hit Record at End of Best Month Since 2020: Markets Wrap

Signs of strength in the world’s largest economy fueled investor optimism about the outlook for Corporate America’s earnings, driving stocks to their best month since late 2020.

Equities hit fresh highs, with the S&P 500 extending its April surge to 10% as data showed US growth accelerated amid an AI-driven upswing in business investment. A gauge of small firms, whose fortunes are tied to domestic activity, added 2.2%. A drop in oil helped sentiment, lifting bonds. The yen climbed on reports of Japan intervention. In late hours, Apple Inc. reported revenue that topped estimates, helped by demand for the iPhone and Mac.