April 2026 Monthly Markets Update
Executive Summary: April 2026 Stocks rebounded on ceasefire headlines, with numerous broad indices setting record highs. The rally erased all of March’s losses and was powered by Growth and semiconductor stocks. Bond markets were quiet on the surface but active underneath. Treasury yields moved higher across the yield curve, but high-yield spreads tightened, erasing nearly […]
Markets Climb as Growth Narrative Holds Firm – May 8, 2026
Good morning, So far this week, the narratives driving markets remain firmly in place — growth stock leadership, the go/no-go status of the Strait of Hormuz, and incoming macroeconomic data. Collectively, those forces have continued to support equities, with the S&P 500, Nasdaq Composite, Russell 2000, EAFE, and Emerging Markets indices returning +1.49%, +2.76%, +0.96%, […]
Uncomfortably Bullish: Markets Balancing Growth, Inflation & Geopolitics – May 4, 2026
Good morning, Markets are no longer trading on a single narrative; instead, they are balancing a stack of competing forces. Chief among them: the surge in AI-driven capital spending, evolving global central bank policies, the ongoing closure of the Strait of Hormuz, and a surprisingly powerful earnings season. At its core, the market is navigating […]
A Strong Economy… But Not a Simple One
By John Lau, CPA, CFP® May 1, 2026 – April gave us a clearer picture of where things stand—and where the tension is building. We saw a series of important economic reports, including the Q1 GDP estimate, jobless claims, and Core PCE inflation (the Fed’s preferred measure). While each report told a slightly different story, […]
Earning The Benefit Of The Doubt – May 1, 2026
The U.S. equity market—measured by the S&P 500—pushed through the 7,000 level in April, notching multiple record highs and its strongest monthly gain since 2020. Markets largely looked past the ongoing conflict in Iran, instead doubling down on the AI-driven growth narrative, with technology and semiconductor stocks leading the charge. Early evidence suggests AI is […]
A Quiet Open Before a Potentially Historic Week – April 27, 2026
Good morning, Last week offered a split-screen market performance. Major U.S. equity indices finished little changed on average, while international developed markets were hit hard—falling roughly 3% on renewed concerns over global energy supplies. Then the U.S.-Iran peace talks broke down over the weekend. Despite the geopolitical backdrop, U.S. futures are flat this morning as […]
A Better Mood This Morning – April 20, 2026
Good morning, At the moment, markets appear to be in a better mood. Oil and the U.S. dollar are falling, while stock futures and bonds are moving higher in early trading. The shift seems tied to renewed hopes that diplomatic talks may resume. This week has been somewhat surprising. With the Strait still closed and, […]
Strait of Hormuz Back in Focus—Markets Take It in Stride For Now – April 20, 2026
Good morning, Integrity is not a word often associated with Iran’s current regime—and this morning’s modest decline in futures (~0.50%) reflects more resignation than surprise. The Strait of Hormuz was closed less than 24 hours after an agreement to reopen it. Markets have seen this movie before. It will likely reopen again relatively soon—but not […]
Week 7: Markets Hold Firm, But Patience Is Thinning – April 13, 2026
Good morning, Entering the 7th week of the war, there was no constructive news over the weekend—hardly a surprise. What may be more surprising is where markets sit at this stage. Through Friday’s close, the S&P 500, Nasdaq, Russell 2000, EAFE, and Emerging Markets are just -2.65%, -4.65%, -3.82%, -5.53%, and -5.63% below their respective […]
If A Bottom Is In – The Market Isn’t Confirming It – April 10, 2026
Good morning, If you locked yourself in a windowless room—cut off from headlines, geopolitics, and narrative—and focused only on what markets have done year-to-date, your interpretation might look something like this: Following new highs at the end of January, markets entered a period of profit-taking, led primarily by large-cap growth and technology. That pullback accelerated […]
March 2026 Monthly Markets Update
Q1 2026 Commentary Key Updates on the Economy & Markets The first quarter was eventful for markets. Stocks traded higher to start the year, with the S&P 500 posting a modest gain in January. However, the market traded lower in March due to escalating geopolitical tensions in the Middle East and the Strait of Hormuz […]
Week 6: Markets Volatile, But Not Broken – April 6, 2026
Good morning, As we enter the sixth week of war, markets have now delivered four consecutive down weeks followed by last week’s rebound. The overall picture, however, remains largely unchanged. Volatility is elevated, with markets reacting more to the daily flow of oil through the Strait of Hormuz—which has been gradually improving—and to energy prices, rather than to shifting political rhetoric or repeatedly […]