April Market Review 2019
13 May 2019
Global markets did well on the back of a good earnings season. The S&P 500 had reached over 15% in returns by the end of April, for the year to date. Trump suggested that the sanctions against Iran’s oil production would be reinforced following May, giving oil strong gains (over 6%). The US also slapped Venezuela with oil sanctions this month, causing crude oil and Brent prices to rise as well. The IMF downgraded the world’s economic growth forecast near mid-month, resulting in a more cautious investor atmosphere, and the Federal Reserve similarly opted to keep rates the same. JPMorgan opened a surprisingly positive earnings season with strong results, but poor results from Goldman Sachs led to a 4% drop in their share price. As the month drew to a close, the NASDAQ rose to its highest point in half a year and the S&P 500 hit a new record high.