Weekly Update 4/20/2026

April 20, 2026

Your Weekly Update for Monday, April 20, 2026.

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Have a great week!

Bill Roller
NMLS #107972
CHARTERED FINANCIAL ANALYST
CERTIFIED FINANCIAL PLANNERTM
CHARTERED MARKET TECHNICIAN
bill.roller@beaconrwa.com

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Go to https://youtu.be/47CGXwFRVrY to see the video from April 20 in which Bill Roller presents the financial update for the week.

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Summary

Markets were UP last week. The Dow Jones Industrial Average was UP 3.19% to 49,447.43 while the S&P500 ended UP 4.54% to 7,126.06. The Nasdaq Composite ROSE 6.84% to 24,468.48. The annual yield on the 30-year Treasury FELL 2.9 basis point(s) to 4.885%.

Economic Notes:

Lower start to week indicated as tensions with Iran reignite

Equity futures point to a lower opening this morning after an escalation in geopolitical tensions between the U.S. and Iran over the weekend. The major averages are coming off their third consecutive week of gains of 3% or wider across the board, with the S&P 500 and Nasdaq Composite notching fresh record highs and the Nasdaq Composite recording 13 straight winning sessions.

Stocks are poised to take a step back at the open after Iran has put a pause on the next round of peace talks that were set to take place before the ceasefire expires on Wednesday. NBC News reported Iran has vowed retaliation after the U.S. seized an Iranian cargo ship, with President Trump issuing renewed threats against the country’s energy infrastructure.

Crude oil is currently up $4.93 (+6.0%) to $87.52 per barrel.

Still, the broader undertone remains constructive for stocks as recent decreases to the price of oil have improved the market’s rate cut odds, while mega-cap and tech stocks have continued to provide steady leadership alongside signs of improving market breadth. That said, today’s pullback looks more like a pause following an extended rally rather than the start of a deeper reversal, as investors weigh elevated geopolitical risks against a still-supportive macro backdrop.

On the earnings front, a slate of regional banks will report today before earnings ramp up considerably tomorrow.

There is no economic data of note scheduled for today to kick off a week of relatively few data releases.

In corporate news:

  1. American Airlines (AAL36, -0.42, -3.3%) is down in the premarket after the company rejected merger talks with United Airlines (UAL99.11, -2.69, -2.6%), according to CNBC.
  2. Alphabet (GOOG52, -2.88, -0.9%) is in discussions withMarvell (MRVL 147.82 +8.31, +5.8%) to construct new artificial intelligence chips, according to The Information.
  3. Meta Platforms (META 47, -6.08, -0.9%) plans to reduce its workforce by roughly 8,000, according to Reuters.

Reviewing overnight developments:

Equity indices in the Asia-Pacific region began the week on a higher note even though the conflict with Iran escalated over the weekend, as Iran’s navy continued restricting traffic through the Strait of Hormuz over the weekend. Japan’s Nikkei: +0.6%, Hong Kong’s Hang Seng: +0.8%, China’s Shanghai Composite: +0.8%, India’s Sensex: UNCH, South Korea’s Kospi: +0.4%, Australia’s ASX All Ordinaries: +0.1%.

In news:

  1. A U.S. delegation was expected to meet with Iranian officials in Pakistan today, but Iran has not committed to another round of negotiations yet.
  2. Tokyo Steel announced that its price hikes will continue into May while other Japanese companies are also expected to increase prices.
  3. The approval rating of Prime Minister Takaichi’s cabinet fell to 66% from 71%.
  4. The People’s Bank of China left its one-year and five-year loan prime rates at their respective 3.00% and 3.50%.

In economic data:

  1. Japan’s February Tertiary Industry Activity Index -0.7 (last -8.7)
  2. New Zealand’s March trade surplus NZD698 mln (expected surplus of NZD175 mln; last deficit of NZD365 mln)

Major European indices trade in the red, weighed down by news that maritime traffic is still not flowing through the Strait of Hormuz. STOXX Europe 600: -1.1%, Germany’s DAX: -1.3%, U.K.’s FTSE 100: -0.7%, France’s CAC 40: -1.1%, Italy’s FTSE MIB: -1.4%, Spain’s IBEX 35: -1.3%.

In news:

  1. European Central Bank policymaker Demarco said that the central bank should wait a bit longer before raising rates, adding that bets on two rate hikes are not unreasonable.
  2. Moody’s lowered Belgium’s rating to A1 from Aa3, revising the outlook to Stable from Negative while DBRS reaffirmed Italy’s A rating with a Stable trend.

In economic data:

  1. Eurozone’s February Construction Output -1.9% m/m (last -1.33%)
  2. Germany’s March PPI 2.5% m/m (expected 1.4%; last -0.5%); -0.2% yr/yr (last -3.3%)

U.S Equity Futures:

  1. S&P 500 Futures: -36 @ 7,126
  2. DJIA Futures: -276 @ 49,365
  3. Nasdaq Futures: -124 @ 26,702

Overseas:

  1. Europe: DAX -1.4%, FTSE -0.7%, CAC -1.1%
  2. Asia: Nikkei +0.6%, Hang Seng +0.8%, Shanghai Composite +0.8%

Commodities:

  1. Crude Oil +4.89 @ 87.48
  2. Nat Gas +0.0620 @ 2.7360
  3. Gold -68.30 @ 4,811.30
  4. Silver -2.41 @ 79.43
  5. Copper -0.09 @ 6.02

Earnings/Guidance: 

  1. B2Gold (BTG) cuts Q2 Goose output outlook after fire, maintains FY guidance
  2. Cleveland-Cliffs (CLF) beats by $0.01, beats on revs
  3. Infinity Natural Resources (INR) reports Q1 derivative losses tied to hedging portfolio
  4. Stanley Black & Decker (SWK) reports Section 232 tariff changes not expected to materially affect FY26 outlook
  5. Surf Air Mobility (SRFM) reaffirms FY26 revenue guidance, raises Adjusted EBITDA guidance

Market Notes:

  1. The S&P 500 futures are 0.5% below fair value; the Nasdaq 100 futures are 0.5% below fair value; and the DJIA futures are 0.4% below fair value
  2. Key factors driving the futures market:
    1. Geopolitical tension after Iran fires on commercial vessel and U.S. seizes Iranian-flagged oil tanker in Strait of Hormuz over the weekend
    2. Misgivings about sustainability of U.S.-Iran ceasefire
    3. Profit-taking activity after V-shaped rally to new highs (Nasdaq up 13 straight sessions)
  3. Iran closes Strait of Hormuz again; President Trump says Iran violated the ceasefire by firing on ships in the Strait of Hormuz; says Vice President JD Vance, Steve Witkoff, and Jared Kushner will arrive in Pakistan tonight for negotiations (but Iran hasn’t confirmed they will show up for talks); Mr. Trump says if Iran does not take the deal he offered, U.S. will destroy Iran’s bridges and power plants
  4. Iran says it has made “no decision” regarding the second round of peace talks this week and vowed to retaliate after the U.S. seized a cargo ship. NBC News
  5. Pakistani officials say Iran is willing to attend second round of peace talks with U.S; Chinese President Xi calls for Strait of Hormuz to be opened, according to AP
  6. President Trump held a White House Situation Room meeting amid the closure of the Strait of Hormuz. The war could resume in a few days absent a breakthrough in negotiations. Axios
  7. Supreme Court Justices Samuel Alito & Clarence Thomas are not planning to step down this year. CBS News
  8. Energy Secretary Chris Wright says gas prices have peaked but might not get below $3/gallon until late this year or next year. Politico
  9. The Trump administration launches a tariff refund portal today. Axios
  10. UAE requested wartime financial lifeline from the U.S. WSJ
  11. The People’s Bank of China left its one-year and five-year loan prime rates at their respective 3.00% and 3.50%
  12. Airlines increasing cancellations and groundings amid fuel price surge. Bloomberg
  13. American Airlines (AAL)denies interest in merger discussions with United Airlines (UAL)
  14. Eli Lilly (LLY)in discussions to acquire Kelonia Therapeutics. WSJ
  15. Google (GOOG, GOOGL)in discussions with Marvell (MRVL) to construct new artificial intelligence chips. The Information
  16. Honeywell (HON)to sell productivity solutions business to Brady (BRC) for $1.4 bln
  17. Salesforce (CRM)CEO Marc Benioff says customers are not replacing its products with artificial intelligence. WSJ
  18. TopBuild (BLD)agrees to be acquired by QXO for $505 per share
  19. Brokerage research calls of note:
    1. Upgrades: APD, AEP, ACLS, BIIB, CLDX, CRZBY, ECL, LAKE, MLCO, OKTA, OSCR, PLXS, TRP, TXN, UBS, ULTA, VOYA, WBI, WMB
    2. Downgrades: ATEN, CAR, BBVA, DB, DOCS, EIX, ETR, ES, EXC, GTLB, HESM, INTC, JANX, LION, MHK, NXPI, QRVO, SNY, SNDR, SWKS, SO< TVRD, VALE< WLK
  20. WTI crude futures +5.6% to $88.52/bbl; nat gas futures +2.2% to $2.73/mmbtu; copper futures -1.3% to $6.03/lb; gold futures -1.0% to $4828.90/toz; silver futures -2.5% to $79.82/toz
  21. 2-yr note yield +3 bps to 3.73% and 10-yr note yield +1 bp to 4.26%
  22. The U.S. Dollar Index +0.1% to 98.22
  23. There is no U.S. economic data of note today

Mortgage Rates

“Mortgage rates declined this week to a four-week low of 6.30%,” said Sam Khater, Freddie Mac’s Chief Economist. “Compared to one year ago when rates were at 6.83%, this is a meaningful improvement for homebuyers during what is typically the busy spring homebuying season.”

The 30-year FRM averaged 6.30% as of April 16, 2026, down from last week when it averaged 6.37%. A year ago at this time, the 30-year FRM averaged 6.83%.

The 15-year FRM averaged 5.65%, down from last week when it averaged 5.74%. A year ago at this time, the 15-year FRM averaged 6.03%.

Mortgage Rates

Selected Cryptocurrencies

Symbol Name Price 24h % 7d % Market Cap Volume(24h)
BTC Bitcoin $75,219.15 -0.48% 6.04% $1,505,773,441,674 $35,055,705,954.00
ETH Ethereum $2,309.36 -0.82% 5.51% $278,717,821,457 $18,133,054,495.00
XRP XRP $1.41 -0.95% 6.72% $87,192,255,711 $3,070,209,707.00
BNB BNB $625.88 0.54% 4.69% $84,361,488,601 $1,521,096,076.00
SOL Solana $85.16 -0.52% 4.06% $49,015,336,960 $4,534,778,380.00
TRX TRON $0.33 -0.05% 2.46% $31,237,449,375 $982,281,299.00
DOGE Dogecoin $0.09 -0.21% 3.81% $14,528,823,702 $1,883,713,750.00
HYPE Hyperliquid $41.15 -5.13% -1.59% $10,511,239,589 $354,593,851.00
LEO UNUS SED LEO $10.17 -0.24% 0.54% $9,373,499,607 $588,967.00
ADA Cardano $0.25 -0.41% 3.41% $8,921,270,017 $600,344,756.00
BCH Bitcoin Cash $440.63 -0.06% 3.49% $8,823,151,347 $202,764,865.00
LINK Chainlink $9.21 -0.01% 5.59% $6,701,966,422 $622,568,249.00
XMR Monero $351.60 -0.59% 1.30% $6,486,047,581 $110,590,469.00
CC Canton $0.15 -4.87% 4.00% $5,919,235,896 $14,250,268.00
XLM Stellar $0.17 -1.40% 10.84% $5,568,694,330 $113,364,443.00
USDe Ethena USDe $1.00 0.00% 0.02% $5,369,650,378 $399,925,280.00
ZEC Zcash $309.19 -6.66% -15.24% $5,144,150,986 $604,893,969.00

Data as of 4:55 AM PDT, Monday, April 20, 2026. Source: https://coinmarketcap.com

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Sources: Bill Roller, BR Capital, Inc. dba Beacon Rock Wealth Advisors American Association for Individual Investors (AAII), Associated Press, Barclays Capital, Bloomberg, Briefing.com, Citigroup, Deutsche Bank, FactSet, Financial Times, Goldman Sachs, JPMorgan Asset Management, MarketfieldAsset Management, Morgan Stanley, MSCI, Morningstar, Northern Trust, Oppenheimer Funds, PIMCO, Standard & Poor’s, StockCharts.com, The Conference Board, Thomson Reuters, T. Rowe Price, U.S. Bureau of Economic Analysis, U.S. Federal Reserve, Wall Street Journal, The Washington Post. Index performance is shown as total return, which includes dividends, with the exception of MSCI-EM, which is quoted as price return/excluding dividends. Performance for the MSCI-EAFE and MSCI-EM indexes is quoted in U.S. Dollar investor terms.

The information above has been obtained from sources considered reliable, but no representation is made as to its completeness, accuracy or timeliness. All information and opinions expressed are subject to change without notice. Information provided in this report is not intended to be, and should not be construed as, investment, legal or tax advice; and does not constitute an offer, or a solicitation of any offer, to buy or sell any security, investment or other product BR Capital, Inc. dba Beacon Rock Wealth Advisors  is a registered investment advisor.

Notes key: (+) positive/encouraging development, (0) neutral/inconclusive/no net effect, (-) negative/discouraging development.