From Equity Research
Equity markets rallied in April on unprecedented levels of government stimulus combined with rising hopes that shelter-in-place mandates may be slowing the spread of the virus. More bullish sentiment amongst investors was reflected in the VIX Index, or “fear gauge” which backed off March highs in the 80’s to end April in the mid-30’s. For the full month, all three major equity indexes increased with the Dow Jones Industrial Average up 11.1%, the S&P 500® index up 12.7%, and the smaller cap weighted Russell 2000® up 13.7%.