The Markets (as of market close April 17, 2026)
Stocks surged last week as easing geopolitical tensions sparked a strong risk-on rally. The S&P 500 climbed past the 7,000 mark to a record high, while the NASDAQ posted its longest winning streak since 1992. Stock trader sentiment improved following the announcement of a ceasefire and the reopening of the Strait of Hormuz, which helped stabilize global energy markets. Large-cap and technology stocks led the advance, with information technology posting especially strong gains. The Dow also rallied sharply, including an 800-point jump on Friday. Oil prices fell significantly, dropping more than 13% for the week, while gold and silver saw modest profit-taking as investors rotated back into equities.
Last Week’s Economic News
- Producer prices rose in March, with a 4.0% year-over-year increase, marking the fastest annual pace since early 2023.
- Core producer prices increased modestly, in March and 3.8% over the past year.
- Import prices climbed in March, while export prices rose, reflecting ongoing global price pressures.
- Industrial production declined in March, though it remains higher than a year ago.
- Existing home sales fell in March, while home prices continued to rise modestly.
- Weekly jobless claims dropped to 207,000, indicating continued labor market resilience.
- Gasoline prices remained elevated, significantly higher than a year ago despite some regional variation.
Eye on the Week Ahead
Economic data will be relatively light this week, with the March retail sales report as the primary release. After February’s solid gain, investors will be watching closely for any signs of slowing consumer spending.
Have a nice week!
Sincerely,
Robert G. Carpenter