April 27, 2026

Good afternoon,

Markets

For the week ending 4/24/2026:

• The S&P 500 increased 0.5% to close at 7,165.08.
• The yield of the 10-year Treasury bond increased from 4.25% to 4.31%.
• Oil increased from $82.59 to $95.15.
• The CBOE Volatility Index (VIX) increased from 17.48 to 18.71.
• U.S. dollar currency exchange rates were:
• EUR/USD: 1.17     (USD stronger from a week ago)
• GBP/USD: 1.35     (USD unchanged from a week ago)
• USD/JPY: 159.40   (USD stronger from a week ago)

Market Headlines

• Market Rebound Slows but Continues: Major U.S. stock indexes finished the week with mixed but generally positive results, as technology-led gains helped lift the S&P 500 and Nasdaq to fresh record highs, even as the Dow lagged behind. The S&P 500 rose about 0.5% for the week, while the Nasdaq climbed roughly 1.5%. In contrast, the Dow Jones declined around 0.4% over the same period. The Russell 2000 also posted a modest gain of roughly 0.4%, reflecting some strength in small-cap stocks.
• Oil Rises Again: Oil markets experienced renewed volatility this week as narratives surrounding the Middle East conflict and shipping through the Strait of Hormuz shifted. U.S. crude was trading more than 14% higher on Friday compared with the prior week, at approximately $95 per barrel. Despite the weekly gain, prices remain well below the year-to-date high of roughly $113 reached in early April. The recent rebound underscores how sensitive energy markets remain to geopolitical developments and supply disruptions.
• Strong Earnings: Earnings season continued to gain momentum through last week, with the technology sector firmly in focus as markets priced in results from a growing slate of companies. Overall, earnings reports have been better than expected, with roughly 80–85% of reporting companies topping consensus estimates. Among individual names, semiconductor and hardware firms led gains, with stocks like Intel outperforming after stronger-than-anticipated quarterly results and upbeat guidance, lifting broader sentiment across the tech sector. Meanwhile, software stocks saw mixed reactions, as some companies beat estimates but faced pressure tied to investor concerns over AI-related disruption and cost structures.

Key Takeaways

• While the ceasefire with Iran has been extended by President Trump, investors should not assume that markets are fully out of the woods. The extension signals a desire among the parties to pursue a peaceful settlement to the ongoing conflict, which has contributed to the market recovery in recent weeks following the significant sell-off in March. While markets are pricing out downside risk in the region, this also exposes near-term vulnerability should diplomatic efforts face setbacks. Talks toward a permanent resolution have stalled, and although reports suggest that more formal negotiations may begin soon, it remains unclear how quickly the sides can reach a suitable compromise. Until more concrete progress is made, markets are likely to remain sensitive to developments surrounding the negotiations.
• As policymakers weigh mixed economic signals, investors can expect interest rates to remain unchanged following the Federal Reserve’s meeting this week. Although headline inflation has picked up again, largely reflecting higher energy prices, core inflation measures have shown more moderate and gradual improvement. This gives the Fed room to maintain a “wait-and-see” approach rather than resume tightening. Meanwhile, the labor market remains resilient, with steady job creation and relatively low unemployment, though not weak enough to justify rate cuts. Wage growth has cooled somewhat, yet it has not declined sufficiently to ease concerns about underlying price pressures. Taken together, these conditions support expectations for a continued policy pause as the Fed seeks clearer evidence that inflation is sustainably moving toward its target without triggering an unnecessary slowdown in economic growth.

The Week Ahead: April 27 – May 1

• Monday: No major reports scheduled
• Tuesday: S&P Case-Shiller home price index, Consumer confidence
• Wednesday: FOMC interest rate decision, Durable goods orders, Housing starts
• Thursday: Initial jobless claims, GDP (Q1), Personal Consumption Expenditures (PCE) index
• Friday: ISM manufacturing

Until next week,

Weller Financial Group

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Weller Financial Group is located at 6206 Slocum Road, Ontario, NY 14519 and can be reached at 315-524-8000. Financial Advisors at Weller Financial Group offer advisory services through Commonwealth Financial Network®, a Registered Investment Adviser.