LIVE MARKETS-And so concludes one wild April

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AND SO CONCLUDES ONE WILD APRIL

U.S. stocks gyrated wildly on Wednesday after data showed the economy contracted in the first quarter for the first time in three years, underscoring concerns about the impact of U.S. tariffs and the global trade war on worldwide growth.

In a session jam-packed with economic data, the Commerce Department said its advance gross domestic product (GDP) report showed a 0.3% contraction for the first quarter, falling short of expectations for 0.3% growth, according to economists polled by Reuters.

The main indexes tumbled early, but ultimately reversed. The Dow .DJI, and S&P 500 .SPX both ended modestly higher, while the Nasdaq .IXIC was slightly red at the close. With this, the DJI and SPX both extended their winning streaks to seven days.

The SPX last rose seven days in a row in November 2024. For the Dow, seven up-days is its longest win streak since an eight-day run of gains in May 2024.

For the month of April, the indexes staged impressive rallies off their lows.

After collapsing much as 12.83%, the DJI finished down 3.17% for the month. After declining as much as 13.84%, the S&P 500 ended down just 0.76% for the month. And after sliding as much as 14.54%, the Nasdaq composite .IXIC actually ended positive, by 0.85%.

Before this month, as per LSEG data going back to early 1980,there were only three times where the IXIC lost 10% or more at one point in a month, and then recovered to end that month in positive territory. The last such occurrence was in August 2024.

Here is a snapshot of where markets stood just shortly after the 4 p.m. ET closing bell:

(Terence Gabriel)

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