Weekly Market Update – April 20, 2026
- Taylor Champion
- Apr 20
- 3 min read
Price Return Last Week
S&P 500 +4.5% S&P Mid Cap +3.5% Russell 2000 +5.6%
MSCI EAFE +2.2% MSCI EM +3.2%
10 Yr US Treasury Rate – fell from 4.32% to 4.24%
Source: Refinitiv Eikon
Recent News
Strait of Hormuz Updates – Iran’s foreign minister announced that the Strait of Hormuz was “completely open” after a cease-fire deal was reached between Israel and Lebanon. However, the U.S. continues to impose a naval blockade on all Iranian ports until a deal is reached with Iran. The price of oil fell approximately 10% on Friday upon news that the Strait was open. However, the Islamic Revolutionary Guard Corps refuted the foreign minister’s statement and said the strait was closed and fired on several ships over the weekend. Only 27 large trading ships have passed through the strait in the last week.
Source: The Wall Street Journal
New High for Stocks – The S&P 500 and Nasdaq Composite stock market indexes hit new all-time highs on Wednesday on fresh optimism that the conflict in Iran may be nearing an end. Despite the rise in stock prices, bond yields remain higher than before the U.S. launched strikes in Iran. The 10-year U.S. Treasury yield closed the week at 4.24%, up from 3.96% pre-conflict. The price of a barrel of West Texas Intermediate crude remains elevated as well, closing the week at $84, up from $67 pre-conflict.
Source: CNBC.com, Refinitiv Eikon
IMF Cuts Outlook – The International Monetary Fund lowered their 2026 real GDP growth estimate for the global economy to 3.1% from 3.3%. This assumes that oil prices normalize and average $82 per barrel for all of 2026. In their worst-case scenario, they estimate oil prices of $100 per barrel for the year and see growth falling to 2.0%, potentially prompting a global recession. Global growth has only fallen below 2% four times since 1980. Absent the conflict in Iran, they noted that they would have increased their growth outlook from 3.3% to 3.4%.
Source: Thomson Reuters
April Showers and Showers and Showers – Thursday’s rainfall in Chicago marked the 14th consecutive day of measurable rain with total accumulation for the month of April at 5.5 inches, 366% above average for mid-April. Adding in showers from March, and spring rainfall so far is above 10 inches, the highest Chicago has seen since records started 155 years ago.
Source: Block Club Chicago
Upcoming Events
4/21 – Retail Sales, Notable Earnings Reports: Danaher, D.R. Horton, Northrop Grumman, Tractor Supply, UnitedHealth, RTX, 3M, Chubb, Capital One, EQT
4/22 – Notable Earnings Reports: Gilead Sciences, Masco, Boeing, AT&T, GE Vernova, IBM, Tesla, ServiceNow
4/23 – S&P Manufacturing PMI. S&P Services PMI, Notable Earnings Reports: CBRE, American Express, Union Pacific, Honeywell, Blackstone, Comcast, Dover, Nextera Energy, Lockheed Martin, Pultegroup, Pool Corp, Thermo Fisher Scientific, Intel
4/24 – Notable Earnings Reports: Procter & Gamble, Norfolk Southern
Source: Refinitiv Eikon
This material is for informational purposes only and is not investment advice, a recommendation, or an offer to buy or sell any security. Views are as of the date shown and may change. Forecasts and forward-looking statements are not guarantees of future results. Information is believed reliable but not guaranteed for accuracy or completeness; third-party sources are not affiliated with Chesley, Taft & Associates (CTA). Indexes are unmanaged, not investable, and shown for illustrative purposes only. Past performance is not indicative of future results. Viewing this material does not create an advisory relationship with CTA.
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