US stocks weekly: Rally rolls on

Globalstar

20/04/2026 11:00

Repeats from Friday with no changes to text. Updates graphic

** S&P 500 .SPX stretches winning streak to three weeks, adds 4.5% as Middle East peace hopes, strong bank earnings buoy sentiment .N

** Dow .DJI gains 3.2%, while Nasdaq Composite .IXIC soars 6.8%

** With strong rally, Nasdaq Composite avoids "death cross," makes it "Lucky 13," up 13 days in a row. Last rose 13-straight sessions in Jan 1992

** Indeed, from trough to triumph: Nasdaq’s surge delivers fresh records, while S&P 500 also vaults to new highs, with biggest rolling 13-day rally since Apr 2020

** From selloff to stampede: Magnificent Seven ETF MAGS.K nears a crossroads

** U.S. 10-Year Treasury yield US10YT=RR, back down to 4.25% area, on track to retreat for 3rd week in a row

** Most sectors power ahead: Technology, Consumer Discretionary and Communication Services run hot, while defensive plays and Energy cool off

** Tech .SPLRCT spikes 8.1%. Oracle ORCL.N the leader in a recovery effort in the beleaguered software sector. ORCL scores 27% weekly gain for best such showing since Jun 1999

Chip stocks surge, and Nvidia's NVDA.O PE hovers near 2019 lows

Semiconductor index .SOX hurtles 7.5%. Has now advanced 13 days in a row, longest stretch of gains since a 15-day run in Jun 2014, and at around 9,500, index battling resistance parallel on the charts

** Consumer Discretionary .SPLRCD jumps 6.6%. Amazon.com AMZN.O ascends as co to acquire Globalstar GSAT.O in $11.6 bln deal, bolstering its satellite business in attempt to catch up with Elon Musk's Starlink

** Communication Services .SPLRCL rises 6.3%. Though Netflix NFLX.O plunges after disappointing Q2 outlook, and announcing co-founder Reed Hastings to exit

** Financials .SPSY springboard 3.3%. Goldman Sachs GS.N slips on Mon as FICC weakness tempers equities trading, dealmaking performance

Citigroup C.N up, JPMorgan JPM.N and Wells Fargo WFC.N fall on Tues after Q1 results, as banks show trading strength, caution on economic risk

Bank of America BAC.N and Morgan Stanley MS.N rise on Weds after their Q1 reports, as extreme volatility spurs record equities trading and heightened M&A activity boosts investment banking fees

For the week, S&P 500 banks index .SPXBK up ~1%, KBW regional banking index .KRX up 2%

Robinhood Markets HOOD.O rockets 31% on the week after regulator approves removal of day-trading limit for smaller investors

** Industrials .SPLRCI firm 1.2%. Airline shares rise on merger chatter, easing oil prices, then take off after Iran says Strait of Hormuz open

NYSE Arca Airline index .XAL soars ~9%. Dow Transports .DJT advance ~10%, hit fresh records

** Energy .SPNY  dives 3.5%. Energy shares drop, track falling crude prices on more Middle East talks, extend losses after Iran declares Hormuz passage open

** Meanwhile, strong Q1 earnings expectations remain intact as Iran says Strait of Hormuz is open

** SPX performance YTD:

SP 500 2026 YTD THROUGH APRIL 17 https://fingfx.thomsonreuters.com/gfx/buzz/gkplkaebrvb/SP%20500%202026%20YTD%20through%20April%2017.jpg

(Lance Tupper and Terence Gabriel are Reuters market analysts. The views expressed are their own)

((lance.tupper@tr.com ; terence.gabriel@tr.com))