Weekly Market Recap | Apr 21 – Apr 27

IPO’s in the week

• Crane Harbor Acquisition Corp. (Nasdaq: CHACU) is a blank check company formed to pursue a merger, share exchange, asset acquisition, share purchase, reorganization, or similar business combination. The company offered 20,000,000 units at $10.00 each in its IPO on April 25, 2025.
• Inflection Point Acquisition Corp. III (Nasdaq: IPCXU)
  Inflection Point Acquisition Corp. III aims to acquire and grow North American and European businesses in disruptive growth sectors. The company offered 22,000,000 units at $10.00 in its IPO on April 25, 2025.
• Phoenix Asia Holdings Limited (Nasdaq: PHOE)
  Phoenix Asia Holdings is a substructure contractor serving both public and private sector projects in Hong Kong, known for craftsmanship, customer satisfaction, and high safety standards. It offered 1,600,000 shares at $4.00 in its IPO on April 25, 2025.
• New Providence Acquisition Corp. III (Nasdaq: [TBD])
  New Providence Acquisition III is a blank check company formed to pursue mergers or similar business combinations. It raised $261 million by offering 26,100,000 units at $10.00 per unit in its IPO on April 24, 2025.
• Texas Ventures Acquisition Corp. III (Nasdaq: [TBD])
  Texas Ventures Acquisition III is a blank check company focused on effecting mergers, share exchanges, or similar business combinations. The company raised $200 million through the sale of 20,000,000 units at $10.00 each in its IPO on April 23, 2025.
• Concorde International Group Limited (Nasdaq: CIGL)
  Concorde International Group, based in Singapore, specializes in integrated security solutions and facilities management. Founded in 1997, the company has evolved from traditional services to a technology-driven model. It offered 1,250,000 shares at $4.00 in its IPO on April 22, 2025.
• Pinnacle Food Group Limited (Nasdaq: [Ticker not provided])
  Pinnacle Food Group focuses on smart farming solutions for vertical and hydroponic farming in urban settings. The company manufactures hydroponic systems, sells consumables, and offers advisory services, data analytics, and environmental design consulting. It offered 1,800,000 shares at $4.00 in its IPO on April 22, 2025.
• TMD Energy Limited (NYSE American: TMDE)
  TMD Energy is a holding company providing marine fuel bunkering services, including the supply of high sulfur, low sulfur, and very low sulfur marine fuels to ships at sea. The company raised $10.08 million by offering 3,100,000 shares at $3.25 in its IPO on April 21, 2025.

Markets this week

1. S&P 500 closed at 5525.21, gaining 290.21 points or 5.54% for the week.
2. iShares Russell 1000 closed at 302.35, gaining 16.25 points or 5.68% for the week.
3. Russell 2000 closed at 1957.62, gaining 94.91 points or 5.09% for the week.
4. Russell 3000 closed at 3139.45, gaining 167.43 points or 5.63% for the week.
5. CBOE (VIX) closed at 24.34, losing 8.41 points or 25.68% for the week.
6. Dow closed at 40113.50, gaining 1207.46 points or 3.10% for the week.
7. Nasdaq Composite closed at 17382.94, gaining 1330.18 points or 8.29% for the week.
8. Bitcoin closed at $94,720.50, gaining $8,548.96 or 10.04% over the past five days.
9. Ethereum closed at $1,786.63, gaining $199.17 or 12.54% over the past five days.
10. XRP closed at $2.1831, gaining $0.1061 or 5.11% over the past five days.
11. Gold closed at $3,330.20, losing $12.00 or 0.36% over the past five days.
12. Silver closed at $33.02, gaining $0.37 or 1.13% over the past five days.
13. WTI closed at $63.17, losing $1.13 or 1.76% for the week.
14. Brent closed at $67.00, losing $0.78 or 1.15% for the week.

• Intel plans to cut over 20% of its workforce this week to streamline management under new CEO Lip-Bu Tan.
• Hackers hijacked Japanese brokerage accounts to manipulate penny stocks in a ¥100 billion ($710 million) fraud, leading firms to restrict some stock purchases.
• China may suspend 125% tariffs on some U.S. imports, easing pressure on key sectors and trade sentiment.
• Foreign investors, who held a record 18% of U.S. equities at the start of 2025, have sold $63 billion since March, led by European sellers.
• Gold’s rally has fueled a surge in retail demand, trading volumes, and ETF flows in China, as Trump’s trade war escalates tensions and market volatility.
• Deliveroo confirmed it received a $3.6 billion buyout proposal from DoorDash and said it would likely recommend the offer if formally made.
• Vale expects iron ore prices to stay above $85 a ton, citing unsustainable production costs below that level, despite tariff-driven economic slowdown concerns.
• Despite Trump’s tariff-driven market turmoil, ETF launches are averaging 75 per month this year, showing no slowdown in financial innovation.
• Bitcoin is up 12% on the week, marking its biggest gain since Trump’s election win, and is nearing the $95,000 mark.
• Cantor Equity Partners surged 220% after announcing a merger to become a Bitcoin investment vehicle, pushing its market cap to triple the value of the crypto it will hold.
• ECB’s Boris Vujcic said current U.S. tariffs aren’t the worst case for Europe, as trade with the U.S. and China continues despite uncertainty.
• Fed Governor Christopher Waller said he would support rate cuts if aggressive tariffs lead to higher unemployment, warning layoffs could rise if big tariffs return.
• Global money managers remain cautious on Chinese stocks despite a recent boost, citing prolonged trade tensions, geopolitical risks, and economic uncertainty.
• Big Tech reports earnings this week with 15% profit growth expected, despite rising trade war fears and recession risks.
• Asian economies like South Korea, Japan, and India are leading in talks with the U.S., aiming for interim deals to avoid steep Trump tariffs before the 90-day grace period ends in July.