Markets End the Day, Week, and Month Higher

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Bill McColl
Bill McColl
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Bill McColl has 25+ years of experience as a senior producer and writer for TV, radio, and digital media leading teams of anchors, reporters, and editors in creating news broadcasts, covering some of the most notable news stories of the time.

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Published April 28, 2023
Table showing the performance of major U.S. financial indexes on April 28, 2023

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Key Takeaways

  • Major U.S. equities indexes pushed higher on April 28, 2023, closing with gains for the week and for the month.
  • The Dow finished April with a monthly increase of 2.5%, while the S&P 500 was up 1.5% and the Nasdaq posted a small gain for the month.
  • Shares of Snap (SNAP) and Pinterest (PINS) declined after the social media companies reported financial results.

U.S. equities finished the day, week, and the month on a high note, pushed up by solid earnings reports. The Dow had its best month since January, rising 2.5%. The S&P 500 added 1.5% in April, while the Nasdaq posted a small gain.

Intel (INTC) shares jumped 4% on the chipmaker's current quarter outlook and after CEO Pat Gelsinger said that the PC market is bouncing back after months of declines. Shares of Chevron (CVX) and Exxon Mobil (XOM) gained as both oil giants posted better-than-expected profits despite a drop in oil prices in the quarter. Charter Communications (CHTR) led the S&P 500 higher after the cable provider reported sales that beat estimates.

Shares of Resmed (RMD) advanced 7% as the medical device maker's profit and sales exceeded forecasts. Mohawk Industries (MHK) also beat expectations, and shares of the flooring manufacturer jumped 7% as well.

First Republic Bank (FRC) shares plunged on fears that the troubled bank may not be able to avoid a takeover by regulators. Amazon (AMZN) shares were lower as the online retailing giant warned that demand for its cloud services is slowing.

Snap and Pinterest Shares Drop

Shares of social media firms Snap (SNAP) and Pinterest (PINS) plummeted on their financial reports. First Solar’s (FSLR) earnings missed expectations and sales sank, sending shares tumbling. Shares of several other solar firms, including SolarEdge Technologies (SEDG) and Sunrun (RUN), also declined.

Oil futures added 2.5% on higher demand and lower output. Gold prices were fractionally lower. The yield on the 10-year Treasury note fell. The U.S. dollar rose against the euro and yen but lost ground to the pound. Most major cryptocurrencies traded in the red.

Table showing the S&P 500 stocks with the biggest gains and losses on April 28, 2023

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