WEEKLY MARKET RECAP – APRIL 24, 2026

U.S. stock indexes delivered mixed results for the week, leveling off after three straight weekly gains had pushed the S&P 500 and NASDAQ to record highs. Strength in semiconductor shares helped lift the NASDAQ 1.5%, while the S&P 500 edged slightly higher and the Dow posted a modest decline.

Oil prices were volatile amid shifting developments in the Middle East and shipping conditions in the Strait of Hormuz. U.S. crude traded near $95 per barrel on Friday, up from about $83 the previous week, though still below the year-to-date high of roughly $113 reached on April 7.

As earnings season approached its midpoint, mega-cap technology stocks continued to dominate profit growth. The “Magnificent Seven” are expected to deliver first-quarter earnings growth of 22.8%, according to FactSet, compared with 10.1% for the remaining S&P 500 companies.

Growth stocks outperformed value for a fourth straight week, narrowing value’s lead for the year. Over that stretch, a growth index advanced more than 16%, versus an 8% gain for its value counterpart.

Retail sales jumped in March, though much of the increase was driven by higher gasoline prices. Overall sales rose 1.7%, following a 0.7% gain in February and marking the strongest monthly increase in more than three years. Excluding gasoline, sales increased a more modest 0.6%.

Consumer sentiment continued to weaken. The University of Michigan’s final April reading came in at 49.8, slightly above the preliminary estimate but still sharply lower than levels seen in March and February, reflecting concerns tied to geopolitical tensions and rising energy costs.

In fixed income markets, Treasury prices declined and yields moved higher ahead of the Federal Reserve’s next meeting. The 10-year Treasury yield rose to 4.30% from 4.24% the prior week, though it remained below the recent peak of 4.44% recorded on March 27.

Markets continue to anticipate a pause in Fed policy. Futures pricing on Friday indicated a 99% probability that the central bank will leave rates unchanged at the conclusion of its April 29 meeting, following its decision to hold steady in mid-March after three rate cuts late last year.