WEEKLY MARKET RECAP – APRIL 17, 2026

Easing tensions in the Middle East and declining oil prices lifted investor sentiment, driving the S&P 500 to three straight record closes starting Wednesday. The index ended the week up 4.5%, while the NASDAQ surged 6.8% to new highs. The Dow rose a more modest 3.2%, leaving it about 1.5% below its all-time peak.

Friday’s advance marked the NASDAQ’s 13th consecutive gain, its longest winning streak since 1992, capping a powerful rally that began on March 31. Over that span, all three major indexes rebounded more sharply than they had fallen during the late-February sell-off tied to rising geopolitical tensions.

Oil prices extended their decline for a second week, with losses accelerating Friday as shipping conditions improved in the Strait of Hormuz. U.S. crude traded near $83 per barrel, down from about $96 a week earlier and well below the recent high of roughly $113 on April 7. Even so, oil remained up more than 40% year to date.

Growth stocks continued to outperform value for a third straight week, narrowing value’s earlier lead. A growth index gained 6.7% for the week, compared with a 2.4% rise for its value counterpart.

Earnings season began on a strong note, with most major U.S. banks reporting better-than-expected results, supported by robust trading revenue. FactSet data showed financial sector earnings projected to rise 19.7% in the first quarter, above the 15.1% estimate heading into the week.

Small-cap stocks also participated in the rally. The Russell 2000 reached a new record high on Thursday, surpassing its prior peak from nearly two months earlier, and finished the week up 5.6%. Just a month earlier, the index had fallen into correction territory.

In fixed income markets, Treasury prices rose for a fourth consecutive week, pushing yields lower as inflation concerns eased. The 10-year Treasury yield ended the week at 4.24%, down from a recent high of 4.44% in late March.

Inflation data came in softer than expected at the wholesale level. The Producer Price Index rose 0.5% in March, below the 1.1% consensus forecast, with higher gasoline prices accounting for roughly half of the increase.