Additionally, a faltering U.S. dollar helped raise the outlook for large-cap stocks with significant overseas operations. The rising oil prices also supported a rebound in the energy sector.
While the government reported some softening data, such as weaker employment growth and manufacturing, the markets took the news in stride, lifting equities on expectations that the Federal Reserve would push back interest rate hikes.
In mid-April, China came out with its increased stimulative efforts to help push its economy along, fueling optimism across the globe.
Meanwhile, the problems in Greece have not devolved into another financial crisis mode with massive default fears as talks in the Eurozone appear constructive.
However, the markets took a turn in the finally days of April after the government revealed a worse-than-expected 0.2% gain in Gross Domestic Product for the first quarter. Additionally, the Federal Open Meeting Committee remained mostly dovish in response to the anemic growth. Still, some argue that the first quarter numbers were a one-time deal due to a frigid weather-related slowdown.
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Max Chen contributed to this article.