Day: May 1, 2021

Stocks Close Out April With a Whimper

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Twitter dropped after downbeat results.


Alastair Pike /AFP via Getty Images

U.S. stocks declined to close out the month, as economic data confirming a U.S. growth rebound and strong earnings results failed to boost shares.

The

Dow Jones Industrial Average

 fell 185.51 points, or 0.5%, to 33,874.85. The

S&P 500

 dropped 30.30 points, or 0.7%, to 4,181.17, and the

Nasdaq Composite

 declined 119.86 points, or 0.9%, to 13,962.68.

Even with Friday’s losses, though, major benchmarks posted monthly gains after a slate of better-than-expected earnings reports. The Dow gained 2.7% for April, while the S&P 500 posted a 5.2% advance and the Nasdaq Composite rose 5.4%.

Notably, while the broad market’s gains are normal for a strong earnings season, individual companies aren’t being rewarded as much as usual for beating forecasts, Deutsche Bank strategists pointed out in an April 29 note. Even so, U.S. companies’ strong quarterly results have

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