US Stock Market Summary for April 13, 2026

Today's US stock market opened with futures down more than 1% on concerns over a Hormuz Strait blockade, but staged a dramatic intraday reversal. The S&P 500 closed +1.02% at 6,886.24, and the Nasdaq rose +1.23% to 23,183.74, both marking their highest levels since the Iran war. The Dow also finished firm at +0.63% (48,218.25). With weekend US-Iran peace talks collapsing and President Trump declaring a Hormuz Strait blockade, morning futures plunged. However, intraday remarks from President Trump that "Iran wants a deal" rapidly spread optimism. On top of this, Goldman Sachs CEO David Solomon voiced the view that the AI-driven selloff in software had been excessive, sending the IGV ETF up more than 4% and leading a rebound in tech stocks. The Fear & Greed Index improved slightly to 41 (Fear), and the VIX declined to 19.17 (-1.64%).

The technology sector ($XLK) led gains at +2.10%. Fueled by Goldman Sachs's reassessment of software stocks, SaaS leaders including Oracle ($ORCL, +12.7%), Salesforce ($CRM, +4.8%), and Microsoft ($MSFT, +3.6%) all rebounded sharply. The financial sector (+1.75%) was strong on expectations surrounding the start of earnings season, but Goldman Sachs ($GS) closed roughly 2% lower despite beating estimates, as weak FICC trading (-10%) weighed on results. The semiconductor ETF $SOXX continued its rally at +1.68%, and the Russell 2000 ($IWM) also rose +1.44%, extending buying interest to small caps.

On the downside, consumer staples ($XLP, -1.00%) was the only declining sector, with General Mills ($GIS, -2.9%), Coca-Cola ($KO), and P&G ($PG) all lower. The communications sector was also clearly weak, with major telecoms including AT&T ($T, -3.2%), Verizon ($VZ, -1.4%), and T-Mobile ($TMUS, -1.7%) all declining in unison.

Crude oil ($USO) rose +2.92%, reflecting Hormuz blockade tensions, though it gave back much of its 7% pre-market surge. Industrial metals and energy materials such as copper ($CPER, +2.56%), lithium ($LIT, +2.72%), and uranium ($URA, +2.39%) posted strong gains, while safe havens gold ($GLD, -0.40%) and silver ($SLV, -1.16%) turned lower on a shift to risk-on. Treasuries edged higher in stable trading ($TLT +0.30%, $IEF +0.22%).

The most notable stock today was Oracle ($ORCL). Driven by an upgrade to its AI utility tools and the announcement of a Morocco cloud region, shares surged +12.69%, the largest gain among top market cap names (StockStory). Within the software rebound, Salesforce ($CRM, +4.8%), Shopify ($SHOP, +3.8%), and $SAP (+3.9%) also posted strong recoveries.

Goldman Sachs ($GS) reported solid Q1 results with EPS of $17.55 (beating the $16.49 consensus) and revenue of $17.23B (above expectations). Equities trading hit a record $5.33B, but FICC trading revenue fell 10% year-over-year, leading shares to close roughly 2% lower (CNBC). Fastenal ($FAST) reported an in-line quarter with revenue of $2.2B (+12.4% YoY) and EPS of $0.30.

Intel ($INTC) rose +4.52%, extending its April rally, while $ARM and Broadcom ($AVGO, +2.2%) continued the semiconductor strength. On the downside, AT&T ($T, -3.21%) led weakness in the communications sector, and defensive names including NextEra Energy ($NEE) and Costco ($COST) broadly lagged.

> Major events for the next trading day will be displayed automatically.

> "This earnings season is the first opportunity to hear directly from companies. It's a time to actually test the market's judgment that the energy crisis and conflict have not yet had a major impact on corporate fundamentals."

> — John Belton, Portfolio Manager, Gabelli Growth Innovators ETF

> "The valuation premium for the tech sector has already been substantially eroded. The technology sector is expected to deliver 43% earnings growth in 2026, a significant increase from 26% last year."

> — Jean Boivin, Head of BlackRock Investment Institute

> "The likelihood that further escalation continues indefinitely is low, and declines driven by geopolitical shocks will ultimately prove to be buying opportunities."

> — Mislav Matejka, Chief Strategist at JPMorgan

While the software sector's technical rebound has been confirmed, new RSI oversold readings have emerged in communications and consumer staples names. Semiconductors remain in overbought territory, warranting caution on profit-taking timing. View Technical Signals Report