Finance

While tech stocks rallied, the Dow Jones Industrial Average fell 0.2%, ending a three-week winning streak as cyclical and financial sectors lagged. Ongoing uncertainty regarding the Iran war and restricted traffic through the Strait of Hormuz kept oil prices volatile, creating a divergence between high-growth equities and defensive market assets.

The cryptocurrency market remained cautious, with Bitcoin trading around $78,126 on Friday while bulls eye a break toward the $80,000 level. Despite cooling momentum in altcoins, Bitcoin has outperformed gold for three consecutive weeks, supported by institutional buying power even as global macro risks persist.

Recent economic indicators suggest a cooling domestic environment, as consumer confidence dropped to a record low of 49.8 points in April 2026. Additionally, weekly unemployment claims rose slightly above forecasts, contributing to a 'low-hire, low-fire' equilibrium in a labor market struggling with moderating job growth.

Market attention is shifting toward the upcoming Federal Reserve meeting on April 28-29, with a near-certain expectation that interest rates will remain unchanged. Political developments, including the resolution of a Department of Justice probe into Chair Jerome Powell and confirmation hearings for potential successor Kevin Warsh, have temporarily eased concerns regarding the central bank's operational independence.