Investors continue leaning into resilience despite a mixed and only moderately instructive data backdrop.
Inflation showed signs of easing, rates edged higher without disruption, and geopolitical risk—particularly in energy—remained present but not defining.
| Stock Index | Value | 12/31/25 Close | 4/9 Close | WK % Chg | YTD % Chg | Source |
|---|---|---|---|---|---|---|
| S&P 500 Index | $7,041.28 | 6,845.50 | $6,824.66 | 3.17% | 2.86% | SPX |
| Dow Jones Industrial Avg | $48,578.72 | 48,063.29 | $48,185.80 | 0.82% | 1.07% | DJIA |
| Nasdaq Composite | $24,102.70 | 23,241.99 | $22,822.42 | 5.61% | 3.70% | COMP |
| NYSE Composite | $22,955.59 | 22,003.93 | $22,830.72 | 0.55% | 4.32% | NYA |
Equity markets moved higher this week, with strong performance across major indices. The S&P 500 rose 3.17%, the Dow Jones Industrial Average gained 0.82%, the Nasdaq Composite led with a 5.61% increase, and the NYSE Composite advanced 0.55%. Year-to-date performance also improved, with all indices now in positive territory.
The continued strength in equities reflects a combination of resilient economic data and a market that is becoming more comfortable with the current rate environment, even as geopolitical risks remain in the background.
Treasuries saw modest upward pressure on yields, with the 10-year Treasury yield ending the week at 4.320%. This marks an increase of 3.9 basis points on the week, though only a slight percentage change 0.09%.
The yield curve remains largely normalized, with only a minor inversion at the 1-year point. Overall, rates continue to reflect a market balancing stable economic growth with lingering inflation concerns, alongside some influence from ongoing geopolitical uncertainty, particularly through energy markets.
The dollar changed little on the week, trading without much conviction.
With data steady but not decisive, and global signals mixed, FX markets remained rangebound—waiting, once again, for something clearer to react to.
Commodities were mixed this week, with energy continuing to show strength. Brent crude oil rose 3.62% on the week and remains significantly higher year-to-date (+63.34%), reflecting persistent supply concerns and geopolitical risk.
Cocoa declined 1.41% and remains sharply lower year-to-date (-45.92%), continuing its volatile trend. Coffee also moved lower, down 1.12%. Grains were more constructive, with corn rising 3.10% and wheat gaining 5.57%, while soybeans were relatively flat (-0.13%). Milk declined slightly (-1.17%), and palm oil fell 2.09% despite remaining higher on the year.
Economic data this week was mixed but generally stable. Existing home sales came in slightly lower at 3.98 million versus 4.1 million previously, while the NFIB optimism index declined to 95.8 from 98.8, suggesting some softening in small business sentiment.
On the inflation front, PPI came in at 0.5%, in line with expectations, while Core PPI cooled to 0.2% from 0.5%. Import prices rose 0.8%, pointing to some continued external price pressures. Regional manufacturing data showed improvement, with the Empire State manufacturing survey rebounding sharply to 11.0 from -0.2, and the Philadelphia Fed index also strengthening to 26.7 from 18.1.
Labor market data remained steady, with initial jobless claims declining to 207,000 from 218,000. Housing-related sentiment, however, weakened slightly, with the homebuilder confidence index falling to 34 from 38.
Markets continue to show resilience, with equities advancing alongside relatively stable yields. While inflation pressures have moderated slightly, they remain present, particularly through energy markets influenced by ongoing tensions.
The largely normalized yield curve and steady economic data suggest a more balanced environment, though risks remain tied to inflation and external shocks.
Markets pushed higher again this week, continuing a steady upward grind even as the macro backdrop stayed anything but quiet.
Strong consumer data and firm services activity kept sentiment supported, while inflation pressures and geopolitical risks continued to simmer…
Equities posted strong gains over the two-week period, with broad-based strength across major indices as earlier weakness faded. The move was supported by easing geopolitical pressure, particularly signs of stabilization around the Iran conflict.
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