Monthly Market Report April 2026

The financial markets demonstrated remarkable resilience in April, characterized by a powerful rally in U.S. equities and a broad recovery in fixed income. Despite persistent headwinds—including geopolitical tensions in the Middle East, oil price volatility, and lingering inflation concerns—investors were encouraged by a combination of robust economic growth and strong corporate earnings.

U.S. Equity Performance

The equity market saw a dramatic reversal in sentiment this month. After approaching the threshold of a correction earlier in the year, the S&P 500® surged 10%, marking its strongest monthly performance since November 2020. During this rally, the index achieved seven record closing highs.

The recovery was notably broad-based, extending beyond large-cap stocks to include smaller-company tiers:

• S&P MidCap 400®: Rose 8%

• S&P SmallCap 600®: Rose 10%

Index	1 Month %	Year To date %	One Year %
S&P 500 Total Return	10.49	5.7	31.05
NASDAQ Composite**	13.79	6.29	42.68
S&P Developed Ex-US BMI*	8.15	8.34	32.05
Dow Jones Commodity (DJCI)	3.31	31.06	47.31
S&P US Aggregate Bond*	0.09	0.14	4.05

Sector and Factor Rotation

Market leadership shifted significantly in April, reversing many of the trends observed in the first quarter. High-growth sectors reclaimed their lead, while defensive and value-oriented segments lagged.

• Sector Leaders: Communication Services and Information Technology dominated the field, posting gains of 19% and 17%, respectively.

• Sector Laggards: Conversely, the S&P 500 Energy sector declined by 3%, diverging from the performance of the underlying physical commodities.

• Investment Factors: Factor leadership rotated toward Momentum and High Beta strategies. The S&P 500 Momentum index gained 19%, representing its best monthly return since its inception in 2014. Meanwhile, low-volatility strategies saw diminished interest as risk appetite returned to the floor.

Fixed Income and Commodities

The fixed income market provided a necessary reprieve for investors following a challenging first quarter.

• Fixed Income: Bond markets recovered a significant portion of their Q1 losses. Gains were recorded across nearly all reported bond indices, signaling a stabilization in yields as the market absorbed economic data.

• Commodities: The commodities complex advanced during April. This move was primarily driven by the Energy component. Rising crude oil prices, spurred by supply shocks and geopolitical instability in the Middle East, acted as the primary catalyst for the index's upward trajectory.

Market Note: The divergence between Energy equities (-3%) and the Commodity Energy complex (Advanced) highlights the nuanced impact of supply shocks, where rising input costs or geopolitical risks may weigh on corporate energy balance sheets even as the raw price of oil increases.

Source: S&P Dow Jones Indices LLC and/or its affiliates. Data as of April 30, 2026, except * as of April 29, 2026. Index performance based on total return (USD). Past performance is no guarantee of future results.

**NASDAQ  Data as of  April 30, 2026  Overview for COMP

Investment advice offered through Stratos Wealth Advisors, LLC, a registered investment advisor. Stratos Wealth Advisors and Synergy Wealth Management are separate entities.