Week Ending April 24th, 2026

Tuesday's Market Moves

S&P 500 – 7,064.01 (-0.63%)

Dow Jones – 49,149.38 (-0.59%)

NASDAQ – 24,259.97 (-0.59%)

• ASIA AND EUROPE: MIXED OVERNIGHT SESSION: Asian markets advanced overnight, while European equities were mostly unchanged despite a drop in the eurozone’s ZEW economic expectations index to its lowest level since 2022, reflecting growing concerns over the economic impact of the Iran conflict.
• GEOPOLITICS: PEACE TALKS AND DELAYS IN FOCUS: The U.S. and Iran are preparing to resume peace negotiations this week as a temporary ceasefire nears expiration. Separately, reports indicate a planned trip by Vice President JD Vance to Pakistan has been delayed, temporarily pausing efforts toward further diplomatic talks.
• RATES: YIELDS EDGE HIGHER: Treasury yields moved slightly higher, with the 10-year at 4.27% and the 2-year at 3.76%, as markets continued to price in policy uncertainty and resilient economic data.
• COMMODITIES: OIL FIRMS ON GEOPOLITICAL HEADLINES: Oil prices edged higher amid renewed geopolitical uncertainty, including reports of delays in diplomatic travel tied to U.S.–Iran negotiations, which kept energy markets sensitive to headline risk.
• U.S. ECONOMY: CONSUMER AND LABOR DATA HOLD UP: March retail sales showed continued consumer strength, rising 1.7% versus 0.7% in February and slightly above expectations. Gains were boosted by a 15.5% surge in gasoline spending, but underlying demand remained solid, with control-group sales up 0.7% versus forecasts of 0.2%. Meanwhile, ADP data showed roughly 55,000 private-sector jobs added over the past four weeks, marking a fifth consecutive week of gains and signaling steady labor-market conditions.
• FED WATCH: WARSH IN THE SPOTLIGHT: Investors focused on remarks from Fed chair nominee Kevin Warsh during his Senate confirmation hearing. While expected to be confirmed, timing remains uncertain. Warsh pushed back on criticism of political influence, stating he would “absolutely not” act as a “sock puppet” for the president, as Powell is set to remain in place until a successor is confirmed.
• CORPORATE EARNINGS: MIXED REACTIONS ACROSS SECTORS: GE Aerospace fell despite strong results and reaffirmed guidance, while Amazon gained after announcing a major AI infrastructure partnership with Anthropic. 3M slipped despite meeting expectations, and Meta Platforms drew attention after reports it will track employee activity to train AI models. In healthcare, UnitedHealth Group surged on strong earnings and raised guidance, lifting peers such as Humana and CVS Health. Defense names were mixed, with Northrop Grumman slipping and RTX rising on upbeat results. In housing, D.R. Horton gained after strong order growth despite affordability concerns. AST SpaceMobile dropped following a failed satellite launch.
• SEMICONDUCTORS: STRONG RALLY CONTINUES: Chip stocks extended their momentum, led by Marvell Technology, Arm Holdings, and ASML. The PHLX Semiconductor Index is now on its longest winning streak since 2002.
• BIG PICTURE: WHAT INVESTORS ARE WATCHING NEXT: Investors are now focused on upcoming earnings from major companies including Tesla, IBM, Boeing, and Texas Instruments, alongside fresh inflation and consumer sentiment data, which will help shape expectations for growth, interest rates, and market direction into the next phase of earnings season.

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“Let your joy be in your journey—not in some distant goal.”

— Tim Cook

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Notable Stocks

• Apple (AAPL)
• Tesla (TSLA)
• Amazon (AMZN)
• Meta Platforms (META)
• United Health Group (UNH)

Weekly Notables

House Shake-Up: Cherfilus-McCormick Resigns Amid Ethics Scrutiny

Sheila Cherfilus-McCormick resigned from the House of Representatives effective immediately as the House Ethics Committee prepared to consider penalties for alleged violations of more than two dozen rules and ethical standards. Her departure marks the third resignation from Congress in just over a week. Cherfilus-McCormick was indicted on charges alleging she stole $5 million in COVID-19 disaster relief funds, some of which were reportedly funneled into her 2021 campaign. She has denied any wrongdoing.

Quiet Engineer Takes the Helm: Apple’s Next CEO Steps into a Defining Moment

Apple’s incoming CEO John Ternus has long operated behind the scenes, quietly rising through the company’s hardware engineering ranks. That low profile is about to change as he prepares to take over in September from Tim Cook. Ternus, 50, is a company veteran who joined Apple 25 years ago and has spent the last five years leading engineering across its core products, including the iPhone, iPad, and Mac. His deep involvement in flagship products made him the clear successor to lead Apple into its next era. Cook himself endorsed the decision, calling Ternus “without question the right person to lead Apple into the future.”

Earnings Spotlight: Tesla (TSLA)

Tesla (TSLA) is scheduled to report Q1 2026 earnings on April 22, 2026, after market close, with analysts estimating an EPS of $0.30 to $0.37 and revenue around $22.2 billion. While Q1 vehicle deliveries rose 6% year-over-year, intense competition and price cuts keep pressure on automotive margins, making the 17% threshold critical. 

What's Ahead

April 22: Expected earnings from GE Vernova (GEV), Philip Morris (PM), AT&T (T), Boeing (BA), Tesla (TSLA), Lam Research (LRCK), IBM (IBM), Texas Instruments (TXN), ServiceNow (NOW), and CSX (CSX).

April 23: Expected earnings from American Express (AXP), NextEra Energy (NEE), Thermo Fisher Scientific (TMO), Honeywell (HON), Union Pacific (UNP), Lockheed Martin (LMT), Blackstone (BX), Comcast (CMCSA), Freeport-McMoRan (FCX), Intel (INTC), Gilead Sciences (GILD), and Newmont (NEM).

April 24: Final April University of Michigan Consumer Sentiment.

April 27: Expected earnings from Verizon (VZ), Domino's Pizza (DPZ), Public Storage (PSA), and Nucor (NUE).

April 28: April consumer confidence and expected earnings from Coca-Cola (KO), Novartis AG (NVS), Corning (GLW), BP PLC (BP), Spotify (SPOT), UPS (UPS), American Tower (AMT), Sherwin-Williams (SHW), Visa (V), T-Mobile (TMUS), Seagate (STX), Starbucks (SBUX), Waste Management (WM), and Mondelez (MDLZ).