Weekly Market Insights | Records Fall as S&P 500 Tops 7,100

Stocks rallied last week as investor enthusiasm built for an end to the war in the Middle East and hopes of a resumption of normal global trade.

The Standard & Poor’s 500 Index rose 4.54 percent, while the Nasdaq Composite Index picked up 6.84 percent. The Dow Jones Industrial Average advanced 3.19 percent. The MSCI EAFE Index, which tracks developed overseas stock markets, increased 2.15 percent.^1,2

Shift to “Risk-On” from “Risk-Off”

Stocks continued to ride the hopeful sentiment of a ceasefire at the start of last week, with all three averages advancing. The S&P 500 has recouped all its losses since the start of the war.³

Momentum accelerated through midweek as investors shifted from “risk-off” to “risk-on.” The White House signaled that the war was “very close to over” amid reports that further talks were under discussion.

At Wednesday’s close, the S&P advanced for the 10th time out of the last 11 trading sessions, while the Nasdaq marked its 11th straight close in the green.⁴

Stocks pushed higher again on Thursday, with the Nasdaq recording its longest winning streak since 2009. The week wrapped on a high note after Iran’s foreign minister announced the Strait of Hormuz was “completely open” as negotiations continue. Oil prices dropped by roughly 10 percent on Friday, sparking another solid day on Wall Street.^5,6

Record-Setting Week

Last week was one for record-breaking. By midweek, the S&P 500 and Nasdaq hit all-time highs. The S&P broke 7,000 for the first time, while the Nasdaq topped 24,000 for the first time.

The shift from “risk-off” to “risk-on” pushed the S&P over the 7,100 threshold for the first time on Friday. And the Nasdaq ended the week on a 13-day win streak, the longest positive streak since 1992. The Dow Industrials closed at 49,447.43, just below its all-time high set in early February 2026.⁷

Footnotes And Sources

^{1. WSJ.com, April 17, 2026}
^{2. Investing.com, April 17, 2026}
^{3. CNBC.com, April 13, 2026}
^{4. CNBC.com, April 15, 2026}
^{5. CNBC.com, April 16, 2026}
^{6. WSJ.com, April 17, 2026}
^{7. CNBC.com, April 15, 2026}