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Weekly Market Recap — Week of April 21, 2026

Mitesh Patel · Apr 24, 2026 · 1 min read

The S&P 500 closed the week up 1.8%, led by a strong earnings season from mega-cap tech. The Fed held rates steady at 4.25-4.50%, with Chair Powell striking a cautious tone on inflation. Key themes this week: rotation from defensive sectors back into growth, dollar weakness supporting commodities, and the continued AI infrastructure buildout driving semiconductor outperformance.

Weekly Market Recap — Week of April 21, 2026

Market Summary

The major indices posted solid gains this week as earnings season kicked off with better-than-expected results from the mega-cap tech cohort. The S&P 500 gained 1.8%, the Nasdaq Composite rose 2.4%, and the Dow Jones added 1.1%.

Key Macro Developments

Fed Decision: The FOMC held the federal funds rate at 4.25-4.50% as expected. Chair Powell's press conference was slightly more hawkish than anticipated — he noted that inflation progress has "stalled somewhat" and that the committee is "in no hurry" to cut rates. Markets pushed back the first rate cut expectation to Q3 2026.

For information and education only; not investment advice. See the full disclaimer.

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