Weekly Market Recap | Apr 20 – Apr 26

Analyst Highlights

• Nasdaq outperformed — gaining 1.77% for the week versus the S&P 500’s 0.79% rise and Dow’s 0.43% decline.
• Oil prices jumped — Brent rose 10.32% and WTI gained 5.35% amid Hormuz-related supply disruptions.
• Crypto momentum improved — Bitcoin climbed 3.67%, while Ethereum and Solana also posted gains.
• Big Tech earnings remain critical — the $16 trillion earnings week will test rally durability.
• S.–Iran tensions stayed central — driving energy, shipping, inflation, and commodity-market risks.
• AI investment momentum strengthened — led by Google’s Anthropic plans, OpenAI’s GPT-5.5 release, and Oracle’s $16 billion data center financing.

IPO’s in the week

• Yesway (YSWY, Nasdaq) – a U.S. convenience store operator and owner of Allsup’s, priced its IPO on April 22, 2026, offering 13,953,488 shares at $20.00 per share. Shares were slightly positive after pricing, rising 0.23%.
• National Healthcare Properties (NHP, Nasdaq) – a healthcare real estate company, priced its public offering on April 22, 2026, offering 38,500,000 shares at $12.00 per share. Proceeds will be used to repay debt, fund future property acquisitions, and support general corporate purposes.
• The Elmet Group (ELMT, Nasdaq) – a U.S.-based provider of precision-engineered components and advanced high-energy systems, priced its IPO at $14.00 per share. The company sold approximately 9.9 million shares. Proceeds will support debt repayment, working capital, and growth capital.
• X-Energy (XE, Nasdaq) – an Amazon-backed developer of advanced small modular nuclear reactors and fuel technology, priced its IPO at $23.00 per share. The company raised about $1.017 billion by selling more than 44.2 million shares. Shares jumped strongly on debut, closing at $29.20 amid rising investor interest in nuclear energy.

Markets Weekly

1. S&P 500 closed at 7,165.08, gaining 55.94 points, or 0.79%, for the week.
2. Russell 1000 closed at 3,903.33, gaining 23.14 points, or 0.60%, for the week.
3. Russell 2000 closed at 2,787.00, losing 5.96 points, or 0.21%, for the week.
4. Russell 3000 closed at 4,073.29, gaining 22.60 points, or 0.56%, for the week.
5. CBOE VIX closed at 18.71, losing 0.16 points, or 0.85%, for the week.
6. Dow Jones closed at 49,230.71, losing 211.85 points, or 0.43%, for the week.
7. Nasdaq closed at 24,836.60, gaining 432.21 points, or 1.77%, for the week.
8. Bitcoin closed at $78,657.54, gaining $2,785.02, or 3.67%, for the week.
9. Ethereum closed at $2,369.73, gaining $54.52, or 2.35%, for the week.
10. Solana closed at $86.97, gaining $1.64, or 1.92%, for the week.
11. XRP closed at $1.4316, losing $0.0002, or 0.01%, for the week.
12. Gold closed at $4,722.30, losing $84.30, or 1.75%, for the week.
13. Silver closed at $76.38, losing $3.57, or 4.46%, for the week.
14. WTI Crude closed at $94.40, gaining $4.79, or 5.35%, for the week.
15. Brent Crude closed at $105.33, gaining $9.85, or 10.32%, for the week.

• Big Tech’s $16 trillion earnings week could decide whether the S&P 500 rally can hold, with Alphabet, Microsoft, Amazon, Meta, and Apple in focus.
• Bond traders are watching Powell’s Fed update, inflation data, and Treasury auctions as Middle East tensions keep oil-driven inflation risks elevated.
• April’s record momentum rally is drawing caution as global equities near highs and the S&P 500 posts its strongest monthly pace since 2020.
• Oil futures are trading below real-world prices as Hormuz disruptions tighten immediate supply, driving up fuel, shipping, and inflation pressure.
• The Iran war is disrupting global aluminum supply as Hormuz closure and smelter attacks pressure manufacturing, autos, packaging, aerospace, and electronics.
• Investors chased tech upside before earnings but added hedges against higher rates as Iran-war inflation risks threatened the rally.
• ECB’s Nagel warned Trump’s Fed attacks weakened trust in U.S. institutions, driving demand for gold and pressuring the dollar.
• China plans to curb U.S. investment in tech firms, tightening control over foreign capital in sensitive AI and national-security sectors.

Politics Weekly

• A DC gala gunman allegedly sought to assassinate Trump and kill senior officials, intensifying concerns over political violence.
• S.–Iran peace talks stalled as ceasefire holds, but the Hormuz blockade keeps a key global energy chokepoint under pressure.
• Trump ordered the U.S. Navy to shoot boats placing mines in Hormuz, escalating pressure around the critical energy waterway.
• S. forces boarded an Iranian oil supertanker as Washington expanded its blockade, while Tehran kept Hormuz effectively closed.
• Ukraine struck a Russian fertilizer plant and oil refinery, escalating pressure on Moscow’s energy and export infrastructure.
• The EU finalized a €90 billion Ukraine loan, unlocking weapons funding and budget support after months of Hungarian veto delays.
• The U.S. demanded Canadian concessions before formal trade talks, while Canada pushed for reciprocity on steel, aluminum, and lumber tariffs.
• King Charles’ Washington visit aims to steady strained UK-U.S. ties as relations hit their lowest point since the Suez Crisis.

Technology Advancements in the week

• Google plans to invest up to $40 billion in Anthropic, deepening its AI push as Claude Code gains developer traction.
• OpenAI released GPT-5.5 for complex work, coding, research, and tool-based tasks with less user direction.
• Google released new AI agent tools for Workspace, adding memory and simulation features to compete with OpenAI and Anthropic.
• Tesla raised its 2026 spending plan above $25 billion to scale AI and Optimus robotics, pressuring free cash flow.
• Oracle’s $16 billion data center financing closed, with the Michigan campus expected to support OpenAI-related cloud and AI workloads.
• DeepSeek unveiled its flagship V4 models, combining open-source access, long-context memory upgrades, and lower costs to challenge U.S. AI rivals.
• Meta is exploring space-based solar power for AI data centers, aiming for cleaner, uninterrupted energy to support future AI growth.
• DeepSeek slashed fees for its new AI model, intensifying China’s AI price war and lowering costs for developers and enterprise users.

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