Weekly Market Insights | Records Fall as S&P 500 Tops 7,100

Douglas J Lyons, CFP^®, CFA^®, CDFA^®

April 21, 2026

Stocks surged last week as optimism grew that the Middle East conflict was nearing an end and global trade would normalize. The S&P 500 rose 4.54%, the Nasdaq jumped 6.84%, and the Dow gained 3.19%. Markets shifted into a clear “risk-on” mode, helped by signs of a ceasefire and reopening of key oil routes, which pushed energy prices lower and boosted equities.

However, sentiment changed over the weekend. Renewed tensions between the U.S. and Iran—including conflict around the Strait of Hormuz and uncertainty around peace talks—raised concerns about oil supply disruptions. This led to a spike in oil prices and weighed on markets.

As a result, stocks pulled back yesterday, with the S&P 500 down about 0.2% and the Nasdaq falling roughly 0.3%, snapping its long winning streak. Investors grew more cautious as geopolitical risks resurfaced and the earlier rally lost momentum.

Looking ahead this week, markets will be focused on developments in the Iran conflict and whether tensions escalate or ease again. Oil prices and global trade conditions will be key drivers. Corporate earnings announcements will also be closely watched. While the broader trend remains positive, volatility is likely to stay elevated as headlines continue to shift investor sentiment.

^{Source: YCharts.com, April 18, 2026. Weekly performance is measured from Monday, April 13 to Friday, April 17. TR = total return for the index, which includes any dividends as well as any other cash distributions during the period. Treasury note yield is expressed in basis points.}

Record-Setting Week

Last week was one for record-breaking. By midweek, the S&P 500 and Nasdaq hit all-time highs. The S&P broke 7,000 for the first time, while the Nasdaq topped 24,000 for the first time.

The shift from “risk-off” to “risk-on” pushed the S&P over the 7,100 threshold for the first time on Friday. And the Nasdaq ended the week on a 13-day win streak, the longest positive streak since 1992. The Dow Industrials closed at 49,447.43, just below its all-time high set in early February 2026.⁷

This Week: Key Economic Data

Tuesday: Retail Sales. Business Inventories. Leading Economic Indicators. Pending Home Sales.

Wednesday: EIA Petroleum Report. Atlanta Fed Business Inflation Expectations.

Thursday: Weekly Jobless Claims. Purchasing Managers Index (PMI)—Services. Purchasing Managers Index (PMI)—Manufacturing. Fed Balance Sheet. EIA Natural Gas Report.

Friday: Consumer Sentiment.

^{Source: Investors Business Daily - Econoday economic calendar; April 17, 2026. The Econoday economic calendar lists upcoming U.S. economic data releases (including key economic indicators), Federal Reserve policy meetings, and speaking engagements of Federal Reserve officials. The content is developed from sources believed to provide accurate information. The forecasts or forward-looking statements are based on assumptions and may not materialize. The forecasts are also subject to revision.}

This Week: Companies Reporting Earnings

Tuesday: GE Aerospace (GE), UnitedHealth Group Incorporated (UNH), RTX Corporation (RTX), Intuitive Surgical, Inc. (ISRG), Danaher Corporation (DHR), Interactive Brokers Group, Inc. (IBKR), Capital One Financial Corporation (COF), Northrop Grumman Corporation (NOC)

Wednesday: Tesla, Inc. (TSLA), Lam Research Corporation (LRCX), GE Vernova Inc. (GEV), Philip Morris International Inc. (PM), International Business Machines Corporation (IBM), Texas Instruments Incorporated (TXN), AT&T Inc. (T), The Boeing Company (BA), Vertiv Holdings Co. (VRT), CME Group Inc. (CME)

Thursday: Intel Corporation (INTC), American Express (AXP), Thermo Fisher Scientific Inc. (TMO), NextEra Energy, Inc. (NEE), Union Pacific Corporation (UNP), Honeywell International Inc. (HON), Lockheed Martin Corporation (LMT), Newmont Corporation (NEM), Comcast Corporation (CMCSA)

Friday: The Procter & Gamble Company (PG), Southern Copper Corporation (SCCO), HCA Healthcare, Inc. (HCA)

^{Source: Zacks, April 17, 2026. Companies mentioned are for informational purposes only. It should not be considered a solicitation for the purchase or sale of the securities. Investing involves risks, and investment decisions should be based on your goals, time horizon, and risk tolerance. The return and principal value of investments will fluctuate as market conditions change. When sold, investments may be worth more or less than their original cost. Companies may reschedule their earnings reports without notice.}

"A real friend is one who walks in when the rest of the world walks out."

– Walter Winchell

Are You Prepared for a Natural Disaster?

Natural disasters, such as hurricanes, earthquakes, or wildfires, can occur at any time, so preparing before disaster strikes is essential. Here are a few tips to help you prepare in case anything happens:

Update Your Family’s Emergency Strategy: These can include knowing where to go, where you keep all necessary documents and possessions, and what you need to be prepared for. Check these regularly, as circumstances can change.
Create Digital Copies of Important Documents: Most financial organizations, such as banks and insurance companies, provide digital copies of bank statements, tax returns, and insurance policies anyway, and keeping all these digital copies saved and organized is an excellent practice to get into. If you only have paper copies of important documents, scan them and store them securely for emergency access.
Document Valuables: Documenting valuables makes it easier to claim insurance and tax benefits after a natural disaster. A disaster loss workbook will help you compile a list of belongings and photographs that can make this process even more accessible for both the IRS and your insurance provider.

These tips may help you have everything you need ready in the case of a natural disaster or other emergency.

This information is not a substitute for individualized tax advice. Please consult with a qualified tax professional to discuss your specific tax issues.

Tip adapted from IRS.gov⁸

Picking Up a Creative Hobby Is About More Than Passing the Time

Creative hobbies like writing, knitting, and making clothes are about more than just passing the time. Creative hobbies and side projects can make you happier, healthier, and more productive.

When considering a side project or hobby, experts suggest picking something low-risk, low-pressure, and a labor of love. The difference between a creative hobby and a side project is that a creative hobby is ongoing and doesn’t have a dedicated end goal. Side projects have a goal at the end of the tunnel. For example, your creative hobby could be writing, and your side project could be writing a book.

Coming up with a project or hobby can provide a psychological lift and a boost to work productivity.

Tip adapted from Fast Company⁹

What 8-letter name would be cute and logical for a house cat living below the Mason-Dixon line?

Last Week's Riddle: A ship cruised out of the Pacific Ocean and into the Atlantic Ocean through the Panama Canal, but as it went through the Panama Canal, it didn’t travel east. How is this possible?

Answer: The Panama Canal runs northwest-southeast. Ships travel northwest through the canal to enter the Caribbean Sea (and the Atlantic Ocean).

Lençóis Maranhenses

Maranhão, Brazil

Footnotes And Sources

^{1. CNBC.com, April 15, 2026}
^{2. IRS.gov, September 25, 2025}
^{3. Fastcompany.com, November 17, 2025}

Investing involves risks, and investment decisions should be based on your own goals, time horizon, and tolerance for risk. The return and principal value of investments will fluctuate as market conditions change. When sold, investments may be worth more or less than their original cost.

The forecasts or forward-looking statements are based on assumptions, may not materialize, and are subject to revision without notice.

The market indexes discussed are unmanaged, and generally, considered representative of their respective markets. Index performance is not indicative of the past performance of a particular investment. Indexes do not incur management fees, costs, and expenses. Individuals cannot directly invest in unmanaged indexes. Past performance does not guarantee future results.

The Dow Jones Industrial Average is an unmanaged index that is generally considered representative of large-capitalization companies on the U.S. stock market. The Nasdaq Composite is an index of the common stocks and similar securities listed on the Nasdaq stock market and considered a broad indicator of the performance of stocks of technology and growth companies. The MSCI EAFE Index was created by Morgan Stanley Capital International (MSCI) and serves as a benchmark of the performance of major international equity markets, as represented by 21 major MSCI indexes from Europe, Australia, and Southeast Asia. The S&P 500 Composite Index is an unmanaged group of securities that are considered to be representative of the stock market in general.

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Please consult your financial professional for additional information.

This content is developed from sources believed to be providing accurate information. The information in this material is not intended as tax or legal advice. Please consult legal or tax professionals for specific information regarding your individual situation. This material was developed and produced by FMG Suite to provide information on a topic that may be of interest. FMG is not affiliated with the named representative, financial professional, Registered Investment Advisor, Broker-Dealer, nor state- or SEC-registered investment advisory firm. The opinions expressed and material provided are for general information, and they should not be considered a solicitation for the purchase or sale of any security.