April was an extraordinary month for equities. The Nasdaq surged 15%, the S&P 500 gained 10% and the Dow Jones Industrial Average advanced 7%. After a sharp sell-off earlier in the year, the market recovered with remarkable speed.

The rally was driven by easing geopolitical fears, resilient economic data and continued enthusiasm around artificial intelligence and semiconductor stocks. Many investors had little opportunity to average into positions because prices moved higher so quickly.

The reversal also highlights the importance of staying invested through periods of volatility. Market sentiment can shift dramatically, and some of the strongest gains often occur when uncertainty is still elevated.

With May off to a solid start, investors will be watching to see whether the momentum can continue.