Market Summary April 20 - April 24, 2026

Market Summary

For the week ending April 24, 2026, the market showed mixed results as investors weighed geopolitical risks against a strong earnings season. The S&P 500 rose 0.5% to close at 7,165.08, while the tech-heavy Nasdaq Composite outperformed with a 1.5% gain to finish at 24,836.60, reaching a new all-time high thanks to AI-related optimism. In contrast, the Dow Jones Industrial Average fell 0.4% to 49,230.71, as investors shifted capital away from traditional industrial sectors and into high-growth tech stocks. Overall, the market showed resilience, effectively balancing persistent geopolitical concerns with solid corporate growth.

Important Events

Global tensions, particularly regarding the Strait of Hormuz, remained the main story. Reports of restricted shipping in the region kept oil prices volatile and made investors cautious about potential supply disruptions. However, this global uncertainty was offset by positive news at home: the Department of Justice dropped its investigation into Federal Reserve Chair Jerome Powell. This move removed a layer of political uncertainty and helped stabilize the outlook for monetary policy leadership.

Economic Data

The week’s economic data suggests the economy remains steady. Retail sales for March rose 1.7%, outperforming expectations and showing that consumers are still spending despite inflation. The housing market also showed surprising strength, with pending home sales rising 1.5%, indicating that demand remains steady even with higher interest rates. Finally, business inventories for February grew by 0.4%, suggesting that companies are stocking up because they expect demand to remain consistent.

Corporate Earnings

Earnings season was the primary driver for stock performance this week, highlighting a split between different sectors. Intel (INTC) was a major standout, rallying over 23% after a strong quarter that improved the outlook for semiconductor stocks. This momentum lifted other tech giants like AMD (which rose nearly 14%) and Nvidia, with Nvidia’s market value climbing to $5 trillion. Meanwhile, software stocks plummeted following ServiceNow’s earnings, with the company falling over 17% after earnings and bringing the entire software sector down on Thursday. Software stocks recovered on Friday but still ended the week firmly down. The market is becoming increasingly selective, rewarding companies that show strong growth while being quick to punish those it believes are falling behind, especially with AI. Lastly, United Health Group (UNH) reported strong results and ended the week up 9%. 

What’s Coming Up Next Week

Next week encompasses the most important earnings of the entire earnings season, with Alphabet (parent company of Google), Microsoft, Amazon, and Meta all reporting earnings on April 29th after the market closes. Apple will then report earnings on April 30th. Other notable earnings include Verizon (Monday), Visa, Coca-Cola, & T-mobile (Tuesday), Eli Lilly & MasterCard (Thursday), and ending with Berkshire Hathaway on Saturday.

Investors will also continue to monitor the Strait of Hormuz, as any change in oil supply could shift inflation expectations. Furthermore, market participants will watch for any commentary from the Federal Reserve as the focus turns to the confirmation process for the next Fed Chair. The market’s ability to maintain its momentum will likely depend on whether "Big Tech" can deliver forecasts that justify current valuations amid ongoing global uncertainty.