Wall Street Caps April Rally as Dow Jumps About 790 Points and Tech Drives Record Highs

Overview

• Major U.S. indexes climbed Thursday, with the Dow up about 790 points as the S&P 500 and Nasdaq hit intraday records.
• Early drops in several AI-focused tech names flipped higher late in the session after investors reassessed earnings, including a near 10% surge in Alphabet.
• Caterpillar jumped roughly 9.9%, lifting the Dow, while share buybacks and stronger readings of results helped steady sentiment.
• The Federal Reserve left rates unchanged in a divided decision as new data showed first‑quarter GDP growing at a 2% annualized pace and the PCE inflation gauge rising 0.7% month over month and 3.5% year over year.
• All three indexes closed their best month since 2020 as traders also watched oil price swings linked to U.S.–Iran tensions that could feed future inflation.