Weekly Market Bullets

for the week ending 4/3/2026

• US Equity Markets rebounded last week on hopes for a de-escalation of tensions in the conflict with Iran. The S&P 500 rallied 3.3% for the week and is now down 3.8% for the year. The Nasdaq surged 4.4% for the week to bring its losses for the year to down 5.9%, while the Russell 2000 (small cap stocks) rose 3.3% for the week and is now up 1.9% for the year.

• Global Equity Markets also increased last week on rising hopes for an opening of the Strait of Hormuz. Developed Markets rose 2.8% for the week and are now up 1.1% for the year. Emerging Markets were up 0.3% for the week to bring its gains for the year to 2.6%.

• Interest Rates declined last week amid hopes that the inflation impacts from the conflict in Iran may be short-lived. The yield on the US 10-Year Treasury closed the week at 4.32% vs. 4.43% the prior week. Investors still believe the Fed will not change rates this year, though the probability that the Fed raises rates in 2026 dropped to 3% from 25% the prior week..

• Earnings growth forecasts have surprisingly increased since the start of the conflict with Iran. At the end of February, the consensus on Wall Street was that earnings growth for 2026 would approach 15%, well above historical averages of around 6%. Current forecasts now call for earnings growth of over 17%, as analysts have boosted projections for energy-related firms in light of higher energy prices. We expect earnings estimates for non-energy related sectors to come down as companies report their Q1 financial results.

Market Data

for the week ending 4/3/2026