U.S. stocks surged on the final trading day of April, with the S&P 500 closing above 7,200 for the first time and the Dow jumping nearly 800 points, as all three major indices posted their biggest monthly gains since 2020.
Nasdaq and S&P 500 close lower on Tuesday as concerns over AI growth prospects and oil prices above $112 weigh on markets ahead of Big Tech earnings.
As Big Tech AI infrastructure spending approaches the $600 billion mark, Wall Street investors are taking their first concentrated look at whether these massive investments can deliver meaningful commercial returns.
The busiest week of the earnings season arrives as Meta, Apple, Amazon and other tech giants report results, with investors closely watching whether massive AI investments are paying off.