S&P 500 – 7,126.06 (+1.20%)

Dow Jones – 49,447.43 (+1.79%)

NASDAQ – 24,468.48 (+1.52%)

• MARKETS: U.S. Stocks End Week at Record Highs: The S&P 500, Nasdaq Composite, and Dow Jones Industrial Average all closed higher, with the S&P and Nasdaq hitting fresh record highs as investors leaned into risk assets and broad sector strength carried momentum into the weekend.
• GEOPOLITICS: Hormuz Disruptions and Middle East Tensions Rise: Renewed instability in the Strait of Hormuz and escalating clashes involving Iran and the Israel Defense Forces are heightening global energy and security concerns and raising doubts about fragile peace efforts backed by Donald Trump.
• AUTOMOTIVE: Tesla (TSLA) Advanced Again. Shares moved higher, supported in part by expectations of rising EV demand. The company has expanded its robotaxi service to Dallas and Houston.
• HEALTH: Trump Accelerates Psychedelic Drug Research: Donald Trump ordered faster federal review of psychedelic treatments including ibogaine, pushing research forward while sparking renewed debate over safety and medical potential.
• LEGAL: Nexstar Appeals Blocked Tegna Acquisition: Nexstar Media Group is challenging a court ruling halting its purchase of Tegna Inc. after judges cited antitrust risks tied to reduced competition in local TV markets.
• ENERGY: Oil Prices Slide on Easing Supply Risk: Crude prices fell sharply as earlier fears eased around Middle East shipping disruptions, helping reduce inflation pressure and supporting risk assets.
• TECH EARNINGS: Mixed Reactions Across Big Tech: Netflix fell on weak guidance despite beating estimates, while Apple and Oracle gained on strong data and continued sector momentum.
• RATES: Fed Expectations Remain Steady: Markets continue to price in near certainty that the Federal Reserve will hold rates steady at its next meeting, with limited expectations for cuts this year.
• MACRO DATA: Inflation and Labor Signals Mixed: Producer price inflation came in softer than expected on a monthly basis, while jobless claims edged lower, reinforcing a picture of cooling but still resilient economic conditions.
• CRYPTO: Digital Assets Extend Weekly Gains: The Bitwise 10 Large Crypto Index jumped roughly 10% on the week, with Bitcoin briefly rallying toward the $77,000 level amid improving risk sentiment.
• LOOK AHEAD: Traders Eye Geopolitics, Earnings, and Data Flow: Markets enter the new week focused on Middle East developments, a heavy slate of corporate earnings, and key U.S. economic data that will help determine whether the recent record-setting rally can extend or face consolidation.

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“Simplicity is the ultimate sophistication.” — Leonardo da Vinci

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Notable Stocks

• Nvidia (NVDA) 
• Apple (AAPL)
• Tesla (TSLA)
• Netflix (NFLX)
• AAL (American Airlines)

Weekly Notables

Rolls-Royce’s $5M Electric “Nightingale” Sells Out Instantly

In the ultra-exclusive world of high-end automobiles, Rolls-Royce Motor Cars has raised the bar yet again with the debut of the all-electric Nightingale—a limited-edition masterpiece that’s already completely sold out. With a price estimated between $4 million and $5 million, the Nightingale enters a league of its own—bridging the gap between Rolls-Royce’s standard lineup and one-off creations like the Rolls-Royce Boat Tail. It marks the first model in the brand’s new Coachbuild Collection, blending classic grand touring proportions with modern electric performance.

American Airlines Dismisses United Merger Idea, Citing Competition Concerns

American Airlines said it has no interest in pursuing a merger with United Airlines and confirmed that no discussions have taken place, cooling speculation about a potential blockbuster deal in the aviation sector. A merger between the two carriers would mark the largest airline consolidation in over a decade—but also face steep regulatory hurdles due to competition concerns. Together, the companies already rank among the world’s largest airlines by capacity, making any tie-up highly scrutinized.

Earnings Spotlight: Capital One Financial Corp. (COF)

Capital One (COF) is scheduled to release its first quarter 2026 earnings results on Tuesday, April 21, 2026, at approximately 4:05 p.m. ET. The Zacks Consensus Estimate is $4.63 per share, reflecting an estimated 14% year-over-year increase. Revenue projected at $15.38 billion, which would represent a 53.8% increase compared to the first quarter of 2025.

What's Ahead

Economic:

• Monday (April 20): no reports
• Tuesday (April 21): Business Inventories, Pending Home Sales, Retail Sales
• Wednesday (April 22): EIA Crude Oil Inventories, MBA Mortgage Applications Index
• Thursday (April 23): Continuing Claims, EIA Natural Gas Inventories, Initial Claims, S&P Global U.S. Manufacturing PMI, S&P Global U.S. Services PMI
• Friday (April 24): University of Michigan Consumer Sentiment - Final

Earnings:

• Monday (April 20): AGNC Investment Corp. (AGNC), Alaska Air Group Inc. (ALK), Bank of Hawaii Corp. (BOH), Cleveland-Cliffs Inc. (CLF), Dynex Capital Inc. (DX), Steel Dynamics Inc. (STLD), Zions Bancorporation NA (ZION)
• Tuesday (April 21): Capital One Financial Corp. (COF), Chubb Ltd. (CB), Danaher Corp. (DHR), D.R. Horton Inc. (DHI), EQT Corp. (EQT), Halliburton Co. (HAL), Interactive Brokers Group Inc. (IBKR), Intuitive Surgical Inc. (ISRG), 3M Co. (MMM), MSCI Inc. (MSCI), Northrup Grumman Corp. (NOC), RTX Corp. (RTX)
• Wednesday (April 22): AT&T Inc. (T), Boeing Co. (BA), Boston Scientific Corp. (BSX), CME Group Inc. (CME), CSX Corp. (CSX), GE Vernova Inc. (GEV), International Business Machines Corp. (IBM), Lam Research Corp. (LRCX), Phillip Morris International Inc. (PM), ServiceNow Inc. (NOW), Tesla Inc. (TSLA), Vertiv Holdings Co. (VRT)
• Thursday (April 23): American Express Co. (AXP), Blackstone Inc. (BX), Digital Realty Trust Inc. (DLR), Freeport-McMoRan Inc. (FCX), Gilead Sciences Inc. (GILD), Honeywell International Inc. (HON), Intel Corp. (INTC), Lockheed Martin Corp. (LMT), Newmont Corp. (NEM), Nextera Energy Inc. (NEE), SAP SE (SAP), Union Pacific Corp. (UNP)
• Friday (April 24): Charter Communications Inc. (CHTR), HCA Healthcare Inc. (HCA), Norfolk Southern Corp. (NSC), Procter & Gamble Co. (PG), SLB NV (SLB)