Market Perspective for April 26, 2026

It was another consequential week as a slew of information came out that created volatility among different asset classes. The final week of April saw more fallout from the Iran war as well as the release of retail sale and unemployment claim data.

Retail sale data was released on Tuesday and revealed that core sales were up 1.9 percent in March compared to an expected increase of 1.4 percent. Overall retail sales were up 1.7 percent compared to an expected increase of 1.4 percent. Both core and overall retail sales were revised upward to a gain of 0.7 percent in February. As the economy is largely driven by consumer spending, this is a good sign for consumers, businesses and others who rely on a strong economy to get things done.

On Thursday, unemployment claim data for the week was released. During the last seven days, there were 214,000 requests for benefits compared to an expected 211,000 requests. Last week, there were 208,000 claims for unemployment payments.

Also on Thursday, the Flash Services PMI and Flash Manufacturing PMI were released. The Flash Services PMI came in at 51.3 compared to a projected 50.5 prior to Thursday morning. Last month’s reading was revised downward to 49.8. Ultimately, this signifies that the sector is seesawing between mild contraction and mild expansion.

The Flash Manufacturing PMI came in at 54, which indicates a more robust expansion taking place. It was thought that the reading would come in at 52.5, and last month’s reading remained at 52.3.

Friday saw the release of the revised consumer sentiment and inflation expectation readings provided by the University of Michigan. Consumer sentiment was revised to 49.8 in April while inflation expectations were revised to 4.7 percent. Although still relatively low, the consumer sentiment number rebounded slightly from record lows earlier in the month.

The price of gold fell this week. Last Friday, the metal peaked at $4,888 an ounce before falling back to $4,657 during the middle of the current week. Gold is often seen as a safe haven, which means that there is likely going to be more choppy price action soon as events in Iran unfold.

The S&P 500 was up 48 points this week to finish at 7,165. This was an increase of 0.68 percent over the last five days. The week saw a lot of choppy price action as the index stayed mostly rangebound. On Thursday, the market made its low of the week of 7,047 before reversing and making a high of 7,167 late on Friday afternoon.

The Dow was down 0.41 percent this week to close at 49,230. This was a loss of 202 points over the last five trading days. As with the S&P 500, the Dow was also largely rangebound this week. It made a high of 49,836 on Tuesday before reversing and making a low of 49,081 on Thursday.

The Nasdaq was the big winner this week finishing up over 520 points this week to close at 27,303. This was a gain of almost 2 percent for the index that features big names like Apple and Nvidia. For the week, the index made a low of 26,405 on Tuesday and a high of 27,314 late on Friday.

In international news, Canada released its inflation figures for the month of March. During that time, overall CPI was up 0.9 percent, which translates to an annual inflation rate of 2.6 percent. On Wednesday, Great Britain announced that inflation was 3.3 percent on an annualized basis. Both Canada and Great Britain released retail sales figures on Friday. Great Britain saw spending increase 0.7 percent while Canada also saw an increase of 0.7 percent in March.

The upcoming week is sure to be another interesting one as a couple of key data points are scheduled to be released. On Wednesday, the Fed will make its interest rate decision for April, and it is expected to keep rates where they are at a range of 3.75 percent to 4 percent. Gross domestic product data, the Core PCE Price Index and unemployment claims data will also be released on Thursday.

Market Perspective for April 19, 2026

Market Perspective for April 19, 2026

This past week was yet another consequential one for market participants. Perhaps the biggest news was that Iran decided to open the Strait of Hormuz to all traffic, which was a huge relief for investors as well as those burdened by higher gas prices. Stocks had a banner day Friday while the price of oil plunged.

It’s also worth noting that this is only good for the length of the cease fire, so conditions could change rapidly. It appears there is internal conflict within Iran’s leadership. Iran’s military now states the strait is again closed as of Saturday afternoon.

Those who follow the latest developments on monetary policy are also likely keeping a close eye on this situation. If gas prices tumble, inflation may also tumble as well, which means that the Fed may be more amenable to rate cuts in 2026. Donald Trump has called for rates to be cut down to 1 percent as soon as possible. With Jerome Powell scheduled to exit the Fed in May, a new leader may be willing to do so regardless of market conditions.

Of course, this wasn’t the only important news to come out this week. On Tuesday, the Price Producer Index (PPI) for March was released. Core PPI came in at 0.1 percent, which was lower than the projected 0.4 percent and also lower than the 0.3 percent for February. Overall PPI came in at 0.4 percent, which was significantly lower than the 1.1 percent projection for March.

Much of the increase can be attributed to events in Iran, and it may be seen as an encouraging sign that increases were lower than anticipated. April’s figures will also likely be influenced by events in Iran whether the war ends in the next few days or drags on for a few more weeks.

On Thursday, the unemployment claim data for the last seven days was made public. Over the past week, there were 207,000 requests for benefits. This was slightly lower than the projected 213,000 requests and lower than the 217,000 claims made last week.

The S&P 500 was on a bullish tear this week essentially gaining ground all week. Over the last five days, it was up 331 points, which is a gain of 4.87 percent. Over the past month, the index is up 6 percent and is up nearly 35 percent since last April. This week, the index made a low of 6,793 on Monday morning and a high of 7,145 on Friday morning.

As with the S&P 500, the Dow Jones Industrial Average was also up significantly this week. It gained more than 1,800 points to close at 49,447, which was an increase of 3.82 percent from the open on Monday. It is now up 5 percent over the past month and up 26 percent since this time last year. This week, the Dow made a low of 47,536 on Monday morning and a high of 49,685 on Friday morning.

Finally, the Nasdaq also had a great week for investors gaining almost 1,600 points to finish at 26,672. This was an increase of 6.33 percent since the open on Monday and is up over 46 percent since April 2025. For the week, the market made a low of 25,063 on Monday and a high of 26,717 on Friday.

Crude oil took a steep drop this week as it fell from a high of around $98 on Monday to a low of about $80 on Friday. Gold rebounded after hitting its yearly low in March of about $4,250 to climb to $4,875 on Friday.

The upcoming week is going to be another interesting one for traders as there will likely be more fallout from events in Iran. Retail sales data is due out on Tuesday while the Flash Manufacturing PMI and Flash Services PMI comes out on Thursday along with unemployment claims for the week. Pending home sales data also comes out on Tuesday with forecasts calling for flat growth since last month.