Weekly Market Recap | Mar 30 – Apr 05

Analyst Highlights

Equities: NASDAQ Composite closed at 21,879.18, +1,084.54 points (+5.22%), while the Russell 2000 rose +4.81%, signaling broadening risk appetite beyond mega caps.
Volatility: CBOE VIX closed at 23.87, -6.74 points (-22.01%), reflecting easing immediate fear as markets responded to ceasefire optimism.
Energy: WTI Crude closed at 111.54, +8.66 points (+8.42%), while Brent closed at 109.03, -3.75 points (-3.32%); OPEC+ warned war damage could disrupt supply well beyond the conflict.
Rates: Strong March payrolls pushed Treasury yields higher and reduced expectations for near-term Fed cuts, tightening the policy backdrop for risk assets.
Crypto: Bitcoin closed at 68,981.90, +2,290.45 points (+3.43%) and Ethereum at 2,109.00, +85.49 points (+4.23%), while Solana fell -0.72%, signaling selective rather than broad crypto risk expansion.
Technology: Microsoft’s $10 billion Japan AI push, Hon Hai’s 7% sales growth, and tighter US chip curbs on China reinforced that AI infrastructure remains the dominant global tech theme.

HMH Holding (HMH, Nasdaq) – A holding company focused on diversified investments and operations; IPO on April 1, 2026; 10,520,000 shares offered at $20.00, raising ~$210.4M, aimed at expanding its investment portfolio and operations.
KPET Ultra Paceline (KPET, NYSE) – Operates in the pet-focused consumer or specialty products segment; IPO on March 31, 2026; 20,000,000 shares at $10.00, raising $200M, supporting growth and market expansion.
Future Money Acquisition (FMACU, Nasdaq) – A SPAC targeting fintech and financial services opportunities; IPO on March 27, 2026; 10,000,000 units at $10.00, raising $100M for future acquisitions.
Inflection Point Acquisition VI (IPFXU, Nasdaq) – A SPAC focused on identifying high-growth companies; IPO on March 27, 2026; 22,000,000 units at $1, raising $22 to pursue strategic mergers.
QDRO Acquisition (QADRU, Nasdaq) – A SPAC targeting opportunities in financial or related sectors; IPO on March 27, 2; 2, units at $1, raising $2 for acquisition-driven growth.

S&P 500 closed at 6,582.69, +238.97 points (+3.77%) for the week.
Russell 1000 closed at 3,595.46, +130.96 points (+3.78%) for the week.
Russell 2000 closed at 2,530.04, +116.03 points (+4.81%) for the week.
Russell 3000 closed at 3,749.46, +138.22 points (+3.83%) for the week.
CBOE VIX closed at 23.87, -6.74 points (-22.01%) for the week.
Dow Jones closed at 46,504.67, +1,288.53 points (+2.85%) for the week.
NASDAQ Composite closed at 21,879.18, +1,084.54 points (+5.22%) for the week.
Bitcoin closed at 68,981.90, +2,290.45 points (+3.43%) for the week.
Ethereum closed at 2,109.00, +85.49 points (+4.23%) for the week.
Solana closed at 81.85, -0.59 points (-0.72%) for the week.
XRP closed at 1.3255, +0.0029 points (+0.22%) for the week.
Gold closed at 4,651.50, +125.50 points (+2.77%) for the week.
Silver closed at 72.735, +2.411 points (+3.43%) for the week.
WTI Crude closed at 111.54, +8.66 points (+8.42%) for the week.
Brent Crude closed at 109.03, -3.75 points (-3.32%) for the week.

OPEC+ made only a symbolic oil output hike, warning Middle East war damage could disrupt supply well beyond the conflict.
Hormuz remains the key market focus, as only limited vessel traffic has resumed and normal oil flow is still far from restored.
Strong March payrolls pushed Treasury yields higher and reduced expectations for near-term Fed rate cuts.
Ceasefire hopes lifted sentiment, with stocks rising and oil pulling back as investors priced in possible containment of the Iran conflic
A major Abu Dhabi petrochemicals plant halted after an attack sparked fires, adding to Gulf energy and supply-chain disruption risk.
Israel restarted its largest gas field after a month-long shutdown, easing regional energy supply pressures amid ongoing war disruptions.
Iran war uncertainty is clouding BOJ policy signals, despite markets pricing a ~70% chance of a rate hike.
Coinbase won conditional US trust charter approval, strengthening its role in crypto custody and future tokenized finance infrastructure.

US rescued a downed pilot inside Iran after a high-risk mission involving aircraft destruction and helicopter fire, signaling deeper escalation.
Trump threatens Iran infrastructure as Tehran rejects Hormuz reopening and escalates Gulf strikes, intensifying geopolitical and oil supply risks.
A third US aircraft carrier is heading to the Middle East, signaling sustained military escalation in the Iran war.
Israel said Iran still has over 1,000 missiles capable of reaching it, signaling the war could continue for months.
Russia rejected a UN push to reopen Hormuz, raising the risk of prolonged shipping disruption and sustained oil market stress.
Europe hardened opposition to Trump’s Iran war, raising risks of deeper NATO strains and weaker Western coordination.
Trump proposed a $2.2 trillion budget with a major defense increase and deep domestic agency cuts, signaling a sharper military-first policy shift.
Iran allowed Iraqi ships through Hormuz, offering limited relief to oil flows, though shipping risk and broader disruption remain elevated.

US AI infrastructure depends on Chinese electrical equipment, exposing data center expansion to supply-chain bottlenecks and strategic dependency risks.
US lawmakers moved to tighten chip tool export curbs on China, escalating semiconductor supply-chain tensions and pressure on global equipment makers.
Microsoft committed $10 billion to Japan for AI infrastructure, cloud expansion, cybersecurity, and talent training, deepening the regional AI race.
Microsoft set aggressive Copilot sales goals, signaling stronger monetization focus as enterprise AI competition shifts from adoption to revenue execution.
Hon Hai sales rose on solid AI demand, reinforcing Nvidia-linked infrastructure strength despite macro uncertainty and slightly missing estimates.
Anthropic sees broader demand for Cowork than Claude Code, signaling rapid expansion of AI agents beyond developers into mainstream workplace use.
A suspected North Korean breach of the Axios software tool exposed core internet infrastructure, raising broad cybersecurity and supply-chain security risks.
Anthropic’s accidental Claude Code exposure raised security concerns, highlighting operational risks as AI systems become more complex and widely deployed.

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