The Federal Reserve also revealed a possible outline for this year’s monetary policy, including a gradual rate hike combined with the initial unwinding of its $4.5 trillion balance sheet.

Meanwhile, President Donald Trump stated that he wants to continue pushing forward with a plan to repeal Obamacare before working on potential tax cuts. The initial euphoria over the Trump administration’s proposed pro-growth plans have already begun to fade as investors grow wary of the administration’s ability to push through its agenda.

Markets enjoyed a boost after the first round of French presidential elections, which had pro-EU candidate in the lead who wanted to maintain the status quo, lessening the political risk that gripped global market sentiment.

Investors also turned risk-on during the later half of April after Trump announced plans for tax reform, including cutting the corporate tax rate in half to 15% and capital gains by two-thirds to 20%.

Furthermore, U.S. stocks rallied over the last week of April on a spate of better-than-expected earnings, notably in the technology sector, which helped push the tech-heavy Nasdaq above its 6,000 level.

For more information on ETFs, visit our ETF Performance Reports category.

Subscribe to our free daily newsletters!
Please enter your email address to subscribe to ETF Trends' newsletters featuring latest news and educational events.