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- The S&P 500 gained for the 5th straight week. Weekly market recap, trading week 18/2026
The S&P 500 gained for the 5th straight week. Weekly market recap, trading week 18/2026
Summary of the trading week using the most popular posts from the X platform
Global Markets Investor
May 03, 2026
In partnership with
GLOBAL MARKETS INVESTOR’S PORTFOLIO IS 🔥UP +100%🔥 SINCE JANUARY 2024
DURING THE MARCH-APRIL 2025 MARKET TURMOIL, MAJOR US INDEXES FELL NEARLY 20%, WHILE THE GMI PORTFOLIO GAINED OVER 5%, FIND OUT HOW BELOW:
In this series, you can find financial markets posts with the highest number of interactions from my X platform feed over the most recent week. I am aware that not everybody uses X regularly, so I thought it could provide some value to your analysis and investment process. These posts are surrounded by extra charts, commentary, and explanations of complicated topics.
The S&P 500 closed at a fresh all-time high on Friday, rising for a 5th consecutive week, its longest weekly winning streak since 2024.
This brings the index up +15% since the March 30 low, also marking April as the best month for stocks since November 2022.
Despite closing at record highs, market breadth remains deeply negative, with 315 stocks declining versus just 186 advancing on Friday, marking the 4th record high in the last 5 sessions achieved on negative breadth.
The SOX Semiconductor Index has soared +30% since the start of the Iran war, while the equal-weighted S&P 500 has declined -1% over the same period, highlighting how narrow this rally truly is.
Meanwhile, the Technology sector ETF, $XLK ( ▲ 1.49% ) , surged +20% in April, its second-best monthly gain on record.
The only other time this figure exceeded +20% in a single month was October 2002, when $XLK gained +24.8%, at the bottom of the Dot-Com Bubble.
Furthermore, oil prices fell after Iran reportedly sent a peace response through Pakistani mediators, though President Trump said he was not satisfied with the offer, leaving the conflict unresolved.
Trump also announced a 25% tariff on EU cars and trucks, citing non-compliance with an existing trade agreement, adding another layer of trade uncertainty to an already complex macro backdrop.
A handful of stocks are carrying the entire market, and almost everyone knows it cannot last for too long.
In case you missed it, other posts from this week are listed below.
1) Weekly performance. In the first post attached, you can see last week’s performance of the major US indexes, the VIX volatility index, 10-year Treasury yield, the US Dollar, gold, silver, WTI Crude oil, and Bitcoin.
- S&P 500 +0.9%
- Nasdaq +1.1%
- Russell 2000 (small caps) +0.9%
- Dow Jones +0.5%
- US 10-year Treasury yield +7 basis points
- Bank Index +1.0%
- VIX -9%, front-month contract VIX futures -5%
- US Dollar index -0.3%
- Gold -2.3%
- Silver -1.3%
- WTI Crude Oil -3%
- Bitcoin +0.9%
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For the trading week ending May 8, key events are:
- US ISM Services PMI for April On Tuesday
- US Job Openings for March on Tuesday
- US ADP Employment for April on Wednesday
- US Challenger Job Cuts for April on Thursday
- US Non-Farm Payrolls for April on Friday
- US Consumer Sentiment for May on Friday
- At least 5 Fed speakers
- ~12% of S&P 500 companies report quarterly earnings
All eyes are on the US job market data.
2) Japanese intervention to defend the yen was massive.
3) Hedge funds continue to dump US technology stocks. Retail investors’ purchases are accelerating.
4) Sell in May and go away? The US stock market is flashing a warning signal not seen since 2018.
5) Some additional posts covering interesting economic and financial market data: US money supply, US consumer, US stagflationary pressures, US wealth inequality, Gulf energy exports collapse, US oil exports, US debt, US inflation, and US stock market valuations.
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