Your Weekly Update for Monday, April 27, 2026.
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Bill Roller
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CHARTERED FINANCIAL ANALYST
CERTIFIED FINANCIAL PLANNERTM
CHARTERED MARKET TECHNICIAN
bill.roller@beaconrwa.com
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Summary
Markets were MIXED last week. The Dow Jones Industrial Average was DOWN 0.44% to 49,230.70 while the S&P500 ended UP 0.55% to 7,165.08. The Nasdaq Composite ROSE 1.50% to 24,836.60. The annual yield on the 30-year Treasury ROSE 3.1 basis point(s) to 4.916%.
Economic Notes
S&P futures vs fair value: flat. Nasdaq futures vs fair value: +36.00.
Equity futures point to a flattish opening this morning as negotiations between the U.S. and Iran have stalled ahead of a busy week of mega-cap earnings.
The Wall Street Journal reported that President Trump said future talks with Iran will occur by phone after he cancelled his envoy’s trip to Pakistan over the weekend. The IRGC boarded two container ships near the Strait of Hormuz, adding to the volatility.
Iran offered the U.S. a proposal to reopen the Strait of Hormuz and end the war, but the offer seeks to postpone nuclear talks to a later date, according to Axios.
On the corporate front, the market has a busy week of earnings ahead that will include earnings reports from five of the “Magnificent Seven” names. Strong leadership from mega-cap and other AI-related names helped power the S&P 500 and Nasdaq Composite to record highs last week despite uneven participation in the broader market.
This week will also feature the April FOMC decision, though the market is fully pricing in the Fed leaving rates unchanged.
There is no economic data of note on the calendar today.
In corporate news:
- Eli Lilly (LLY 883.24, -0.72, -0.1%) is set to acquire Ajax Therapeutics for up to $2.3 billion in cash.
- China blocked Meta Platforms’ (META 674.10, -0.93, -0.1%) $2 billion purchase of Manus, according to Financial Times.
- Verizon Communications (VZ 47.87, +1.49, +3.2%) beat EPS expectations by $0.07, missed revenue expectations, and raised FY26 EPS above consensus.
Reviewing overnight developments:
Equity indices in the Asia-Pacific region began the week on a mostly higher note with Japan’s Nikkei (+1.4%) and South Korea’s Kospi (+2.2%) reaching fresh records. Japan’s Nikkei: +1.4%, Hong Kong’s Hang Seng: -0.2%, China’s Shanghai Composite: +0.2%, India’s Sensex: +0.8%, South Korea’s Kospi: +2.2%, Australia’s ASX All Ordinaries: -0.2%.
In news:
- There was some encouragement from news that Iran presented a proposal to restore traffic through the Strait of Hormuz, but it is unclear if the U.S. will accept the offer.
- South China Morning Post reported that the Chinese government has developed a cheaper all-iron battery for renewable energy storage.
- Japan’s Prime Minister Takaichi said that Japan has secured a stable supply of oil into next year.
- The Bank of Japan will release its latest policy statement overnight, but a rate hike is not expected at this time.
In economic data:
- China’s March Industrial Profit 15.5% YTD (last 15.2%)
- Japan’s February Leading Index 113.3 (expected 112.4; last 112.0) and Coincident Indicator -1.8% m/m (expected -1.6%; last 3.4%)
- Singapore’s March Industrial Production 4.7% m/m (last -1.2%); 10.1% yr/yr (last 3.3%)
Major European indices are starting the week on a higher note with some encouragement from indications that U.S.-Iran negotiations are continuing despite the lack of an in-person meeting over the weekend. STOXX Europe 600: +0.4%, Germany’s DAX: +0.8%, U.K.’s FTSE 100: +0.2%, France’s CAC 40: +0.6%, Italy’s FTSE MIB: +0.6%, Spain’s IBEX 35: +0.8%.
In news:
- Expectations for rate hikes from the European Central Bank and the Bank of England are on the rise due to elevated energy prices.
- Banks in the U.K. are preparing for higher taxes if Prime Minister Starmer is replaced by someone leaning farther to the left.
- Standard & Poor’s reaffirmed Greece’s BBB rating with a Stable outlook while Germany’s AAA rating was also affirmed.
In economic data:
- Germany’s May GfK Consumer Climate -33.3 (expected -30.2; last -28.1)
- K.’s April CBI Distributive Trades Survey -68 (expected -42; last -52)
Market Notes
- The S&P 500 futures are in line with fair value; the Nasdaq 100 futures are 0.1% above fair value; and the DJIA future are 0.1% below fair value
- Key factors driving the futures market:
- No direct talks in Pakistan between U.S. and Iran over the weekend
- Reports suggest Iran has offered a new proposal for opening the Strait of Hormuz
- Further AI enthusiasm on report Qualcomm is working with OpenAI to develop smartphone processor
- Waiting on big week of earnings (5 of Mag 7 reporting) and FOMC decision
- President Trump says future Iran talks will occur by phone after he cancelled his envoy’s trip to Pakistan. The IRGC boarded 2 container ships near the Strait of Hormuz. WSJ
- Iran offered the U.S. a proposal to reopen the Strait of Hormuz and end the war, but they want to postpone nuclear talks to a later date. President Trump will hold a Situation Room meeting on Iran today. Axios
- A shooter opened fire outside the White House Correspondents’ Dinner. President Trump was safely evacuated. Authorities found anti-Trump rhetoric on the suspect’s social media accounts. CBS News
- Senator Thom Tillis says he will vote to advance the nomination of Kevin Warsh for Fed Chairman after DOJ dropped the investigation (the Senate Banking Committee will vote to advance the nomination Wednesday at 10:00). NBC News
- California’s 5% wealth tax on billionaires has enough signatures to get on the ballot. WSJ
- Elon Musk to introduce X Money, a new banking and payments platform. Bloomberg
- South China Morning Postreported that the Chinese government has developed a cheaper all-iron battery for renewable energy storage
- Expectations for rate hikes from the European Central Bank and the Bank of England are on the rise due to elevated energy prices
- $69 bln 2-yr note auction results at 11:30 a.m. ET
- $70 bln 5-yr note auction results at 1:00 p.m. ET
- Apple (AAPL)CEO Tim Cook will leave his successor, John Ternus, with a pipeline of 10 product categories. Bloomberg
- Domino’s Pizza (DPZ)misses by $0.14, misses on revs; approves additional $1.0 billion share repurchase program
- Frontier (ULCC)and Avelo are seeking $2.5 billion in government assistance in exchange for warrants. WSJ
- Meta Platforms (META): China blocks Meta’s $2 bln purchase of Manus. FT
- Organon (OGN)to be acquired by Sun Pharma for $14 per share in cash
- United Airlines (UAL): CEO confirms that he approached American Airlines (AAL) about a possible merger, but they declined to engage
- Verizon (VZ)beats by $0.07, misses on revs; raises FY26 EPS above consensus
- Brokerager research calls of note:
- Upgrades: CRWD, FBP, FTNT, KGFHY, MSM, NOK, NTR, OGE, DNNGY, ROL, ASAI, SNAP, VC
- Downgrades: ADBE, AMD, COLD, CPB, DLR, IT, GEV, KNSL, KREF, LINE, PINS, WRB
- WTI crude futures +0.8% to $95.11/bbl; nat gas futures +1.6% to $2.56/mmbtu; copper futures +0.1% to $6.03/lb; gold futures -0.4% to $4719.70/toz; silver futures -1.0% to $75.67/toz
- 2-yr note yield +1 bp to 3.79% and 190-yr note yield unchanged at 4.31%
- The U.S. Dollar Index -0.3% to 98.28
- There is no U.S. economic data of note today
Mortgage Rates
“The 30-year fixed-rate mortgage declined again this week to 6.23%,” said Sam Khater, Freddie Mac’s Chief Economist. “Rates currently stand at their lowest level in the last three spring homebuying seasons. This improvement, coupled with a pickup in purchase applications and refinance activity, as well as an increase in monthly pending home sales, underscores signs of improving momentum in the market.”
The 30-year FRM averaged 6.23% as of April 23, 2026, down from last week when it averaged 6.30%. A year ago at this time, the 30-year FRM averaged 6.81%.
The 15-year FRM averaged 5.58%, down from last week when it averaged 5.65%. A year ago at this time, the 15-year FRM averaged 5.94%.
Selected Cryptocurrencies
| Symbol | Name | Price | 24h % | 7d % | Market Cap | Volume(24h) |
| BTC | Bitcoin | $77,803.31 | -0.36% | 3.34% | $1,557,732,927,447 | $32,273,506,995 |
| ETH | Ethereum | $2,319.74 | -0.70% | 0.47% | $279,966,298,437 | $15,855,541,640 |
| XRP | XRP | $1.41 | -1.16% | -0.21% | $87,226,190,154 | $1,800,870,266 |
| BNB | BNB | $627.32 | -0.77% | 0.21% | $84,555,254,341 | $1,467,932,574 |
| SOL | Solana | $85.24 | -1.54% | 0.17% | $49,089,428,373 | $4,349,902,300 |
| TRX | TRON | $0.33 | 0.55% | -1.28% | $30,824,904,219 | $584,589,930 |
| DOGE | Dogecoin | $0.10 | -0.80% | 3.98% | $15,115,465,616 | $1,488,906,543 |
| HYPE | Hyperliquid | $42.40 | 2.98% | 3.33% | $10,816,177,897 | $232,401,798 |
| LEO | UNUS SED LEO | $10.37 | 0.88% | 1.94% | $9,556,492,220 | $655,135 |
| BCH | Bitcoin Cash | $447.82 | -1.13% | 1.61% | $8,968,550,784 | $187,427,493 |
| ADA | Cardano | $0.25 | -2.47% | 0.43% | $8,958,807,447 | $362,561,949 |
| XMR | Monero | $392.41 | 1.84% | 11.22% | $7,238,829,746 | $125,549,147 |
| LINK | Chainlink | $9.32 | -1.51% | 1.29% | $6,783,660,164 | $250,698,049 |
| ZEC | Zcash | $356.78 | 0.65% | 14.82% | $5,939,798,667 | $570,636,428 |
| CC | Canton | $0.15 | -1.06% | -3.66% | $5,710,099,798 | $19,390,352 |
| XLM | Stellar | $0.17 | -1.91% | -0.23% | $5,573,187,998 | $136,882,848 |
| M | MemeCore | $4.14 | -6.79% | 12.90% | $5,370,868,138 | $18,191,403 |
| DAI | Dai | $1.00 | 0.02% | -0.01% | $5,365,039,619 | $79,360,715 |
Data as of 4:40 AM PDT, Monday, April 27, 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.