Stocks strengthened at the beginning of April after Fed chair Janet Yellen stressed the need for further economic support for some time. However, equities began to sell-off once the non-farm payroll numbers showed an increase, fueling speculation that the Fed could hike rates.
The stock market continued its decline as investors shifted their focus away from the previously high-flying momentum stocks and into defensive plays, despite mostly positive economic data.
Equities began to edge higher mid-April through the end of the month, following strong earnings and government reports.
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