Believe It or Not, Stocks Got More Expensive in April
Finding good value in this market just got even harder.
April was an extremely volatile month for stock investors. Even that might be an understatement.
In about four trading days, the S&P 500 (SNPINDEX: ^GSPC) fell 15% from its intraday high to its intraday low for the month. Two days later, the Nasdaq Composite (NASDAQINDEX: ^IXIC) posted its second-biggest percentage-point increase in history, rising more than 12%. The S&P 500's increase of 9.5% was good enough for the third-highest since 1939. Stocks continued to trade up and down from there but rallied heavily to close out the month of April. Still, the benchmark index, the S&P 500, ended the wild month down 0.76%.
That might sound like stocks got a little cheaper last month, but the truth is they're actually more expensive today. Here's what happened.
