<div id="readability-page-1">Stocks ended mixed on Friday, still locking in their best week since November. The weekly rally was driven by hopes for an Iran war ceasefire and a reopening of the Strait of Hormuz, and aided by a surge in tech large caps. The DJIA (DJIA) rose 3.04% for the week, the S&amp;P 500 (SPX) gained 3.56%, and the Nasdaq-100 (NDX) jumped by 4.45%, moving out of correction territory.<h3>Claim 30% Off TipRanks</h3><ul><li>Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions </li><li> Discover top-performing stock ideas and upgrade to a portfolio of market leaders with Smart Investor Picks </li></ul> Stock market gains were supported by a drop of roughly 13.5% in WTI (CM:CL) prices, driven by a sharp unwind of geopolitical risk premiums ahead of the U.S.-Iran negotiations. Still, Saudi supply damage kept crude on edge after attacks on Saudi energy facilities cut about 600,000 barrels per day of oil output and reduced East-West Pipeline throughput by roughly 700,000 bpd. A total of 1.3 million bpd removed from the market – at least temporarily – served as a stark reminder of the continued overhang of Iran-related risk to global energy supplies. JPMorgan (JPM) warned Brent could revisit $120 if full traffic through the Strait doesn't resume until July. However, energy bellwethers Exxon Mobil (XOM) and Chevron (CVX) tumbled on the week, likely reflecting market hopes more than underlying fundamentals, since WTI remains too close to $100 to be sanguine. Friday's March CPI report already reflected the oil price hit, with the headline metric running hot at 0.9% – the largest monthly rise in nearly four years – propelled by a 21% surge in gas prices. At the same time, Core CPI – which excludes volatile food and energy prices – rose 0.2%, below expectations. The next inflation gut-check will be Tuesday's PPI print, which will give initial signals on whether cost pressure is staying contained or starting to seep further through the pipeline. Meanwhile, the University of Michigan's preliminary April sentiment reading plummeted to 47.6, marking a record low in the survey's 70-plus-year history, while one-year inflation expectations jumped to 4.8%, their highest since August last year. The combination suggests that households are feeling the squeeze before the hard data fully reflects it. Wednesday's release of the Fed's Beige Book – a survey of current economic conditions across the 12 Federal Reserve Districts – will provide further evidence of the actual state of the economy. Coming just two weeks before the next central bank meeting, this one could matter more than usual if it shows sticky inflation, a softer job market, or weakness in demand. Macro troubles aside, last week's surge reflected the strength of the new economy. Gains in semiconductor stocks powered technology to be the best-performing sector, led by extended momentum in AI hardware and infrastructure leaders, particularly a surge in Broadcom (AVGO) and a renewed rally in Nvidia (NVDA). A blockbuster revenue growth update from Taiwan Semiconductor Manufacturing, aka TSMC (TSM), provided another strong tailwind to last week's tech rally, signaling that the AI chip market is booming and that demand for advanced chips remains incredibly strong, defying fears of a slowdown or geopolitical disruption. We'll soon see how that plays out. The Q1 2026 earnings season kicks off this week with financial giants, including JPMorgan Chase (JPM), Goldman Sachs (GS), and Bank of America (BAC), before passing the baton to Big Tech later in the month. The expectations are for a blockbuster season, with a sixth straight quarter of double-digit earnings growth for the S&amp;P 500. The consensus is just under 13%; some estimates see growth reaching up to 19% year-over-year – which would mark the strongest expansion since 2021. Technology is slated to lead yet again with projected earnings growth near 24%, closely followed by financials that capitalized on a rebound in investment banking and trading volumes. However, while tech is likely mostly unharmed by the Iran war's effect – at least for Q1 results – the outlook for the financial sector's earnings looks slightly stretched given the ongoing private equity unwind. On the other hand, the expected strong earnings growth at firms like Citigroup (C) and Wells Fargo (WFC), coupled with support from elevated interest rates boosting banks' net interest income, helps offset those concerns. All in all, this earnings season will be a critical test for market optimism going forward.</div>

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Stocks had their best week since November, driven by hopes for an Iran ceasefire and a drop in oil prices. The DJIA rose 3.04%, S&P 500 gained 3.56%, and Nasdaq-100 jumped 4.45%. A 13.5% drop in WTI prices contributed to market gains, despite ongoing geopolitical risks. The March CPI report showed a significant rise in gas prices, while core CPI remained below expectations. The upcoming earnings season is expected to show strong growth, particularly in technology, with projected S&P 500 earnings growth near 13%.

- Stocks closed mixed on Friday, marking their best week since November, with the DJIA rising 3.04%, S&P 500 up 3.56%, and Nasdaq-100 jumping 4.45%, driven by hope for an Iran ceasefire and tech stocks.  
- The weekly gains coincided with a 13.5% drop in WTI prices due to reduced geopolitical risks, although supply disruptions from Saudi attacks raised concerns about energy stability.  
- As Q1 earnings season begins, expectations for strong performance continue, with S&P 500 earnings growth anticipated near 13%, led by tech, amid a challenging economic backdrop highlighted by dampened consumer sentiment.

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Best Week for Stocks in Months: Iran Truce Hopes, Oil Drop, and Earnings Optimism