Markets slide as Warsh faces lawmakers and Apple confirms Cook’s departure.
byCOVID-19-
Week Ending April 24th, 2026
Tuesday's Market Moves
S&P 500 – 7,064.01 (-0.63%)
Dow Jones – 49,149.38 (-0.59%)
NASDAQ – 24,259.97 (-0.59%)
Weekly Recap
ASIA AND EUROPE: MIXED OVERNIGHT SESSION: Asian markets advanced overnight, while European equities were mostly unchanged despite a drop in the eurozone’s ZEW economic expectations index to its lowest level since 2022, reflecting growing concerns over the economic impact of the Iran conflict.
GEOPOLITICS: PEACE TALKS AND DELAYS IN FOCUS: The U.S. and Iran are preparing to resume peace negotiations this week as a temporary ceasefire nears expiration. Separately, reports indicate a planned trip by Vice President JD Vance to Pakistan has been delayed, temporarily pausing efforts toward further diplomatic talks.
RATES: YIELDS EDGE HIGHER: Treasury yields moved slightly higher, with the 10-year at 4.27% and the 2-year at 3.76%, as markets continued to price in policy uncertainty and resilient economic data.
COMMODITIES: OIL FIRMS ON GEOPOLITICAL HEADLINES: Oil prices edged higher amid renewed geopolitical uncertainty, including reports of delays in diplomatic travel tied to U.S.–Iran negotiations, which kept energy markets sensitive to headline risk.
U.S. ECONOMY: CONSUMER AND LABOR DATA HOLD UP: March retail sales showed continued consumer strength, rising 1.7% versus 0.7% in February and slightly above expectations. Gains were boosted by a 15.5% surge in gasoline spending, but underlying demand remained solid, with control-group sales up 0.7% versus forecasts of 0.2%. Meanwhile, ADP data showed roughly 55,000 private-sector jobs added over the past four weeks, marking a fifth consecutive week of gains and signaling steady labor-market conditions.
FED WATCH: WARSH IN THE SPOTLIGHT: Investors focused on remarks from Fed chair nominee Kevin Warsh during his Senate confirmation hearing. While expected to be confirmed, timing remains uncertain. Warsh pushed back on criticism of political influence, stating he would “absolutely not” act as a “sock puppet” for the president, as Powell is set to remain in place until a successor is confirmed.
CORPORATE EARNINGS: MIXED REACTIONS ACROSS SECTORS: GE Aerospace fell despite strong results and reaffirmed guidance, while Amazon gained after announcing a major AI infrastructure partnership with Anthropic. 3M slipped despite meeting expectations, and Meta Platforms drew attention after reports it will track employee activity to train AI models. In healthcare, UnitedHealth Group surged on strong earnings and raised guidance, lifting peers such as Humana and CVS Health. Defense names were mixed, with Northrop Grumman slipping and RTX rising on upbeat results. In housing, D.R. Horton gained after strong order growth despite affordability concerns. AST SpaceMobile dropped following a failed satellite launch.
SEMICONDUCTORS: STRONG RALLY CONTINUES: Chip stocks extended their momentum, led by Marvell Technology, Arm Holdings, and ASML. The PHLX Semiconductor Index is now on its longest winning streak since 2002.
BIG PICTURE: WHAT INVESTORS ARE WATCHING NEXT: Investors are now focused on upcoming earnings from major companies including Tesla, IBM, Boeing, and Texas Instruments, alongside fresh inflation and consumer sentiment data, which will help shape expectations for growth, interest rates, and market direction into the next phase of earnings season.
House Shake-Up: Cherfilus-McCormick Resigns Amid Ethics Scrutiny
Sheila Cherfilus-McCormick resigned from the House of Representatives effective immediately as the House Ethics Committee prepared to consider penalties for alleged violations of more than two dozen rules and ethical standards. Her departure marks the third resignation from Congress in just over a week. Cherfilus-McCormick was indicted on charges alleging she stole $5 million in COVID-19 disaster relief funds, some of which were reportedly funneled into her 2021 campaign. She has denied any wrongdoing.
Quiet Engineer Takes the Helm: Apple’s Next CEO Steps into a Defining Moment
Apple’s incoming CEO John Ternus has long operated behind the scenes, quietly rising through the company’s hardware engineering ranks. That low profile is about to change as he prepares to take over in September from Tim Cook. Ternus, 50, is a company veteran who joined Apple 25 years ago and has spent the last five years leading engineering across its core products, including the iPhone, iPad, and Mac. His deep involvement in flagship products made him the clear successor to lead Apple into its next era. Cook himself endorsed the decision, calling Ternus “without question the right person to lead Apple into the future.”
Earnings Spotlight: Tesla (TSLA)
Tesla (TSLA) is scheduled to report Q1 2026 earnings on April 22, 2026, after market close, with analysts estimating an EPS of $0.30 to $0.37 and revenue around $22.2 billion. While Q1 vehicle deliveries rose 6% year-over-year, intense competition and price cuts keep pressure on automotive margins, making the 17% threshold critical.
What's Ahead
April 22: Expected earnings from GE Vernova (GEV), Philip Morris (PM), AT&T (T), Boeing (BA), Tesla (TSLA), Lam Research (LRCK), IBM (IBM), Texas Instruments (TXN), ServiceNow (NOW), and CSX (CSX).
April 23: Expected earnings from American Express (AXP), NextEra Energy (NEE), Thermo Fisher Scientific (TMO), Honeywell (HON), Union Pacific (UNP), Lockheed Martin (LMT), Blackstone (BX), Comcast (CMCSA), Freeport-McMoRan (FCX), Intel (INTC), Gilead Sciences (GILD), and Newmont (NEM).
April 24: Final April University of Michigan Consumer Sentiment.
April 27: Expected earnings from Verizon (VZ), Domino's Pizza (DPZ), Public Storage (PSA), and Nucor (NUE).
April 28: April consumer confidence and expected earnings from Coca-Cola (KO), Novartis AG (NVS), Corning (GLW), BP PLC (BP), Spotify (SPOT), UPS (UPS), American Tower (AMT), Sherwin-Williams (SHW), Visa (V), T-Mobile (TMUS), Seagate (STX), Starbucks (SBUX), Waste Management (WM), and Mondelez (MDLZ).
Disclaimer: We are engaged in the business of advertising and promoting companies. All content on our website is for informational purposes only and should not be construed as an offer or solicitation of an offer to buy or sell securities. Neither the information presented nor any statement or expression of opinion, or any other matter herein, directly or indirectly constitutes a solicitation of the purchase or sale of any securities. Neither the owner of Trading Wire nor any of its members, officers, directors, contractors or employees are licensed broker-dealers, account representatives, market makers, investment bankers, investment advisers, analyst or underwriters. Investing in securities, including the securities of those companies profiled or discussed on this website is for individuals tolerant of high risks. Viewers should always consult with a licensed securities professional before purchasing or selling any securities of companies profiled or discussed on Trading Wire. It is possible that a viewer's entire investment may be lost or impaired due to the speculative nature of the companies profiled. Remember, never invest in any security of a company profiled or discussed on this website unless you can afford to lose your entire investment. Also, investing in micro-cap securities is highly speculative and carries an extremely high degree of risk. Trading Wire makes no recommendation that the securities of the companies profiled or discussed on this website should be purchased, sold or held by viewers that learn of the profiled companies through our website.
Some of the content on this website contains "forward-looking statements." Such statements may be preceded by the words "intends," "may," "will," "plans," "expects," "anticipates," "projects," "predicts," "estimates," "aims," "believes," "hopes," "potential," or similar words. Forward-looking statements are not guarantees of future performance, are based on certain assumptions, and are subject to various known and unknown risks and uncertainties, many of which may be beyond a company’s control, and cannot be predicted or quantified, and, consequently, actual results may differ materially from those expressed or implied by such forward-looking statements. It is hereby noted that forward-looking statements contained herein may include everything other than historical information, involve risk and uncertainties that may affect a company's actual results of operation. A company's actual performance could greatly differ from those described in any forward-looking statements or announcements mentioned on this website or the websites contained within. Factors that should be considered that could cause actual results to differ include: the size and growth of the market for the company's products; the company's ability to fund its capital requirements in the near term and in the long term; pricing pressures; unforeseen and/or unexpected circumstances in happenings; etc. and the risk factors and other factors set forth in the company's filings with the Securities and Exchange Commission. However, a company's past performance does not guarantee future results.
Generally, the information regarding a company profiled or discussed on this website is provided from public sources tradingwire.com makes no representations, warranties or guarantees as to the accuracy or completeness of the information provided or discussed. Viewers should not rely solely on the information obtained through our website or in communications originating from our website. Viewers should use the information provided by us regarding the profiled companies as a starting point for additional independent research on the companies profiled or discussed in order to allow the viewer to form his or her own opinion regarding investing in the securities of such companies. Factual statements, or the similar, made by the profiled companies are made as of the date stated and are subject to change without notice and Trading Wire has no obligation to update any of the information provided. Trading Wire, its owners, officers, directors, contractors and employees are not responsible for errors and omissions.
From time to time certain content on this website is written and published by our employees or third parties. In addition to information about our profiled companies, from time to time, our website will contain the symbols of companies and/or news feeds about companies that are not being profiled by us but are merely illustrative of certain activity in the micro cap or penny stock market that we are highlighting. Viewers are advised that all analysis reports and news feeds are issued solely for informational purposes. Any opinions expressed are subject to change without notice. It is also possible that one or more of the companies discussed or profiled on this website may not have approved certain or any statements within the website. Trading Wire encourages viewers to supplement the information obtained from this website with independent research and other professional advice. The content on this website is based on sources which we believe to be reliable but is not guaranteed by us as being accurate and does not purport to be a complete statement or summary of the available data. Third Party Web Sites and Other Information This website may provide hyperlinks to third party websites or access to third party content.Trading Wire, its owners, officers, directors, contractors and employees are not responsible for errors and omissions nor does Trading Wire control, endorse, or guarantee any content found in such sites. Trading Wire does not control, endorse, or guarantee content found in such sites. By accessing, viewing, or using the website or communications originating from the website, you agree that Trading Wire, its owners, officers, directors, contractors and employees, are not responsible for any content, associated links, resources, or services associated with a third party website. You further agree that Trading Wire, its owners, officers, directors, contractors and employees shall not be liable for any loss or damage of any sort associated with your use of third party content. Links and access to these sites are provided for your convenience only. Trading Wire uses third parties to disseminate information to subscribers. Although we take precautions to prevent others from obtaining our subscriber list, there is a risk that our subscriber list, through no wrong doing on our part, could end up in the hands of an unauthorized party and that subscribers will receive communications from unauthorized third parties. We encourage viewers to invest carefully and read the investor issuer information available at the web sites of the United States Securities and Exchange Commission (SEC). The SEC has launched an investor-focused website to help you invest wisely and avoid fraud at www.investor.gov and filings made by public companies can be viewed at www.sec.gov and/or the Financial Industry Regulatory Authority (FINRA) at: www.finra.org. In addition, FINRA has published information at its website on how to invest carefully at www.finra.org/Investors/index.htm.
