Mitesh Patel · Apr 10, 2026 · 1 min read
A volatile week for markets as CPI came in hotter than expected (3.2% vs 3.0% consensus), pushing back rate cut expectations and causing a sharp intraday selloff. However, the market recovered by Friday, suggesting the underlying bid remains strong. Key themes: inflation stickiness, dollar strength, and the resilience of the AI trade.
A volatile week. The S&P 500 finished flat (+0.2%) after a sharp mid-week selloff following the CPI print. The Nasdaq Composite fell 0.5% while the Dow Jones gained 0.4%.
March CPI came in at 3.2% YoY vs. 3.0% consensus — the third consecutive month of above-consensus inflation. Core CPI (ex-food and energy) was 3.8% YoY.
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The S&P 500 set its first record since August and gained 1.2%, but defensive sectors led, tech slipped, Brent held above $100 and Fed minutes pointed to another rate hike by year-end.
Week of April 27 – May 1, 2026 | Published Saturday, May 3, 2026 Data as of May 1, 2026 market close
Week of April 21 - April 25, 2026 Published Saturday, April 26, 2026 Data as of April 25, 2026 market close