Tech Suffers Steep April Losses as Energy Outperforms

The slim gain on the benchmark SP 500 index this month belies the stark difference in performance between April’s top and bottom players

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The broader averages managed to squeeze out slight gains for the month as the Dow climbed 0.5%, and the SP rose 0.27%. The Nasdaq, down four of the last five months, remained stuck in negative territory, closing April down 1.94%. 

A deep dive reveals the SP 500’s energy sector – which has so far been beaten-down by low prices, a supply glut, and global production uncertainty – was the top performer in April, rising more than 8% as oil prices found more solid footing. To that point, U.S. crude closed the session on Friday at $45.92 a barrel, up 19.77% for the month – a far cry from the low $20 range seen earlier in the year. The commodity saw its biggest three-month gain since August 2013.   

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