Market Notes for 4/27-5/1

Market Notes for 4/27-5/1

Market Notes for 4/27-5/1

SPX closed Friday at a new all-time high of 7,165, marking a third straight strong week. Gains were modest (+0.5%), but beneath the surface there was major rotation: Nasdaq surged on a massive Intel earnings beat that lifted semis, while the Dow lagged as oil stayed firm in the mid-$90s. VIX eased to 18.71. Since the March 30 low, SPX has rallied 800+ points in one of the fastest V-shaped rebounds in years.

Economic Calendar this week: This is one of the busiest macro weeks of the entire year. Four major central banks meet, GDP and PCE both print, and ISM Manufacturing closes the week.