Dow, S&P 500, Nasdaq come back from steep lows after GDP print to cap turbulent April

US stocks recovered from steep early-session Wednesday as Wall Street capped a volatile month and investors digested a deluge of economic data, led by the first contraction of the US economy in three years.

The benchmark S&P 500 rose more than 0.1% after an early drop of more than 2%, while the tech-heavy Nasdaq Composite recovered from a similarly large intra-session decline to close just below the flatline. The Dow Jones Industrial Average climbed more than 0.3% to extend its longest win streak of 2025.

Markets wrapped up a tumultuous April that saw stocks whipsawed by President Trump's tariff policy and recent upbeat stance on negotiations. The Dow dropped more than 3% for the month, alongside much smaller moves for the S&P 500.

Stocks climbed out of session lows after a Chinese social media account affiliated with the country's state-run channel posted the US had been reaching out to China seeking to negotiate on tariffs.

Earlier Wednesday, an update on gross domestic product (GDP) showed the US economy contracted at an annual rate of 0.3% in the first quarter, according to an advanced estimate released by the US Bureau of Economic Analysis on Wednesday.

The decrease primarily reflected an increase in imports as Trump's tariff push rattled confidence and businesses rushed to stockpile. Economists had expected a drop in growth of 0.1%. In Q4 2024, real GDP increased 2.4%.