Markets worked generally higher in April as investors digested the challenges in the financial sector fueled by recent bank failures. With widespread financial contagion appearing less likely, investors felt confident to support rising markets with large-cap leaders pushing the Dow and S&P 500 higher. Against this backdrop, the VIX Index or “fear gauge” which started the month at a little under 19 moved lower through the month ending under 16. For the full month, the Dow Jones Industrial Average increased 2.5%, the S&P 500® index was up 1.5%, and the smaller cap-weighted Russell 2000® declined 1.9%.