After a difficult first quarter of 2020 for investors, April provided a much-needed reprieve as markets rallied sharply. US large cap equities, as measured by the S&P 500 index, had their best month in decades returning nearly 13%. Investors appeared optimistic that the significant stimulus provided by governments and central banks, lower energy prices, and evidence of potential new treatments for the COVID-19 virus could result in a swift recovery.

After a difficult first quarter of 2020 for investors, April provided a much-needed reprieve as markets rallied sharply. US large cap equities, as measured by the S&P 500 index, had their best month in decades returning nearly 13%. Investors appeared optimistic that the significant stimulus provided by governments and central banks, lower energy prices, and evidence of potential new treatments for the COVID-19 virus could result in a swift recovery.