2026 | April 6

The Markets

Stocks Rally

The major U.S. indexes finished the week 3% to 4% higher as stocks regained traction following five consecutive weekly declines. Conflicts in the Middle East continued to drive the market, resulting in a rally on Tuesday and sizable intraday swings in a holiday-shortened trading week.  

A rally on Tuesday accounted for most of the U.S. stock market’s overall weekly rise, with the three major indexes recording their biggest daily percentage gains since last May. The NASDAQ climbed 3.8%, the S&P 500 rose 2.9%, and the Dow added 2.5%.

The S&P 500 and the NASDAQ in March fell for the second month in a row, with both dropping around 5%. The Dow fell more than 5%, snapping a 10-month positive streak for that index. Over the first three months of 2026, all three indexes sustained their biggest quarterly decline in nearly four years. 

Yields of U.S. government bonds slipped, snapping a four-week string of increases that had lifted the yield of the 10-year U.S. Treasury to its highest level in more than eight months. The 10-year yield finished the week at around 4.30%, down from 4.43% at the end of the previous week. Nevertheless, the yield remained well above a recent low of 3.96% on February 27.

Gold prices recovered some of the ground they had lost in March, though they remained well below the precious metal’s record high of around $5,500 per ounce set in late January. On Friday, gold was trading around $4,700, up nearly 4% for the week.  

After two weeks of relative calm in global oil markets, geopolitical tensions escalated again, raising fresh concerns about prolonged disruptions to oil shipments in the Persian Gulf’s Strait of Hormuz. U.S. crude was trading around $112 per barrel on Friday—the highest since mid-2022, and well above the $90 to $100 level that oil had traded in through most of March.

The U.S. economy generated 178,000 jobs in March, well above economists’ consensus expectations and rebounding from the previous month’s revised net loss of 133,000 jobs. The report—issued on Friday as the stock market closed for a holiday observance—also showed that the unemployment rate slipped to 4.3% from 4.4% the previous month.

With initial first-quarter earnings reports scheduled to begin coming out in mid-April, analysts are expecting that companies in the S&P 500 will report double-digit earnings growth for the sixth consecutive quarter. As of Thursday, analysts surveyed by FactSet were forecasting an average earnings growth rate of around 13.2%. Just a couple of weeks earlier, earnings were expected to rise just 12.5%.   

Source: John Hancock Investment Management

Retirement Contribution Deadline

WalletHub recently published an article analyzing the tax burden across all 50 U.S. states by measuring the share of residents’ total personal income paid in state and local taxes. It combines three main components — property taxes, individual income taxes, and sales and excise taxes — to create an overall “tax burden” metric. This approach is meant to simplify the complex tax system and allow easier comparisons between states, showing how much taxes actually affect the average resident’s income rather than just looking at tax rates alone.

The study finds significant variation across states. Hawaii ranks as having the highest overall tax burden, while Alaska has the lowest. The report also highlights category-specific extremes: Vermont has the highest property tax burden, whereas Alabama has the lowest. In general, states differ widely depending on how they balance income, property, and sales taxes, meaning a state with low income taxes may still have a high overall burden due to other taxes.

Overall, the findings emphasize that where you live can greatly impact how much of your income goes to taxes. Some states — often those without income taxes — tend to have lower overall burdens, while others rely more heavily on multiple tax types, increasing the total share paid by residents.

The good news is Tennessee ranked 48^th with one of the lowest overall tax burdens! For the full article, click here.

Is it an April Fools Joke or Not?

On April 1, it can be difficult to tell truth from fiction. Brands get bold, headlines get weird, and even your most trustworthy friends might be in on the joke. Here’s a challenge. Read through these short descriptions of news stories. Two are classic April Fool’s pranks designed to trick, delight, or confuse. One is real. Think you can spot it?

Story 1: The last days of paper currency

“The days of pulling a crumpled $20 bill out of your wallet may be numbered. The U.S. Treasury has officially greenlit a sweeping monetary overhaul that will replace all paper currency with a combination of government-issued cryptocurrency and physical gold coins by 2027. The plan calls for a full phase-out of paper money in favor of two new official forms of payment: TrumpCoin, a blockchain-based digital currency, and a line of gold coins embossed with the president’s likeness…,’” reported Laura Beck of GoBanking Rates.com.

Story 2: AI agents hire humans

There’s a new job board online. While it looks a lot like other websites that connect freelance talent to companies that need it, there’s a big difference. Instead of humans looking for human help, this website is for AI agents that need human help, explained Reece Rogers of Wired. The company’s website states: AI needs your body. Get paid when agents need someone in the real world.

Story 3: Pants that improve your golf game

For years, [a top golf brand] has helped golfers improve their game. It offers insights into every club and every shot. Its rangefinder factors in wind, slope, and atmospheric pressure. In April, the company introduced smart pants, an innovation that continuously monitors players’ key performance indicators as they traverse a course. The biometric trousers track “heart rate variability, stress levels, and first-tee anxiety,” according to the company.

While smart golf pants may be on the horizon, they’re not here yet. The U.S. currency change is also April Fool’s mischief. The fact is that AI agents really are hiring humans to complete real-world tasks!

What was your favorite April Fool’s joke this year?

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Advyzon

Eli Culley

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Operations Manager

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Operations Associate

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