Weekly Chartstopper: April 17, 2026

This Week

The Strait of Hormuz is “completely open”!

That’s what Iran’s international minister stated right now and President Trump confirmed. The caveat being that that is for “the remaining interval of the ceasefire” between Israel and Lebanon, which at present ends April 26.

That is the most effective signal but {that a} near-term peace deal is feasible, and President Trump has stated such a deal is “very close” (although betting markets put the percentages at 50-50 for a deal by April 30). Consequently, U.S. oil costs are right down to $85 per barrel – from almost $115 simply 10 days in the past.

IT’s additionally the beginning of first-quarter earnings season and, importantly, the massive banks (which usually Finance/banking/five-things-we-learned-from-bank-earnings-3f07ba9b?mod=djemMarketsAM” data-outlook-id=”1ccd3230-a05e-4f6b-9db3-dde6918ba8ca” data-mce-href=”https://www.wsj.com/Finance/banking/five-things-we-learned-from-bank-earnings-3f07ba9b?mod=djemMarketsAM” goal=”_blank”>did properly) famous that buyers have been Finance/banking/jpmorgan-chase-citigroup-wells-fargo-q1-earnings-report-2026-2d127601?mod=djemHeardEUH” data-outlook-id=”26952d5c-8a4a-418e-8a66-5b6594d4c8ff” data-mce-href=”https://www.wsj.com/Finance/banking/jpmorgan-chase-citigroup-wells-fargo-q1-earnings-report-2026-2d127601?mod=djemHeardEUH” goal=”_blank”>resilient within the face of upper vitality costs up to now. Plus, two of the most important names in chipmaking – TSMC and ASML – each beat on earnings and raised annual income forecasts on “extremely robust” AI demand.

So, with U.S.-Iran peace deal odds bettering and first-quarter earnings off to a powerful begin, the Nasdaq-100® has posted beneficial properties for 13 straight periods – together with report highs the final 3 periods – rising +6% this week (leaving IT up +6% YTD). In the meantime, 10-year Treasury yields are down over 5bp to 4.25%.

IT up +6% YTD). In the meantime, 10-year Treasury yields are down over 5bp to 4.25%.” width=”640″ peak=”400″/>

Subsequent Week

Listed here are the highest occasions I’m watching subsequent week:

• Tuesday: Retail Gross sales (Mar.)
• Wednesday: TSLA Earnings (Q1)
• Thursday: S&P Manufacturing & Providers PMIs (Apr. Prelim.), Jobless Claims