April might have ended with a broad market sell-off, but it was overall a positive month for the markets and exchange traded funds (ETFs).
The Dow Jones Industrial Average closed April up 1.4%. The S&P 500 rose 1.5% for the month, and the Nasdaq was once again the leader, gaining 2.6%.
The Securities and Exchange Commission (SEC) charged Goldman Sachs (NYSE: GS) with defrauding and misleading investors this month, putting some weight behind the push for financial reform. The Senate has begun debating a bill, and it’s predicted that a final vote could come as soon as mid-May. Any result could have a broad impact on the markets, the financial system and the ETFs that track it. The Financial Select Sector SPDR (NYSEArca: XLF) gained 1.3% for the month.
Standout sectors in April were homebuilders, building and construction and gold miners. Weakness was seen in base metals and industrial metals.
For our complete April ETF performance report, click here.
To view all past performance reports, click here.
The opinions and forecasts expressed herein are solely those of Tom Lydon, and may not actually come to pass. Information on this site should not be used or construed as an offer to sell, a solicitation of an offer to buy, or a recommendation for any product.