The market rebounded by the closing bell, brushing off recession concerns after this morning's gross domestic product (GDP) reading showed the economy contracted in the first quarter. Both the S&P 500 and Dow logged their seventh consecutive wins, while the Nasdaq closed modestly in the red. For April, all three benchmarks logged a third consecutive monthly loss. Now, all eyes on Microsoft (MSFT) and Meta Platforms (META) earnings after the close.
OIL LOGS WORST MONTH IN 3 YEARS
Tensions regarding Saudi Arabia's output decisions and global trade crises sent crude to an April drop of 18% -- its worst monthly performance in over three years. For the session, June-dated West Texas Intermediate (WTI) crude fell $2.20, or 3.6%, to finish at $58.22 per barrel.
Though the safe haven asset managed to pare some of yesterday's losses, gold still finished markedly lower for the day. However, an April gain of 6% secured its fourth monthly win in the black. June-dated gold shed 0.5%, to settle around $3,318.50 an ounce.
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