Market Report, 2026-04-09

Stocks enjoyed another good day as tensions continued to ease between the U.S. and Iran. Although no definitive agreement has been reached, the willingness to engage in talks itself is significant progress. Reportedly, Pakistan was not the only party involved in pushing toward a ceasefire; China was also involved. Its participation could significantly shift the geopolitical landscape, as the major Asian country has historically had limited involvement in other countries’ geopolitical affairs. Even though there were breaches of parts of the ceasefire agreement, the market looked past them and carried on.

Stock indices ended the day meaningfully higher for the second consecutive day. The Dow Jones Industrial Average rose almost 300 points to 48,186. The NASDAQ and S&P 500 both rallied more than half a percent to 25,082 and 6,825, respectively. On a sector basis, energy continued to be the only sector posting meaningful losses, while most other sectors ended the day in the green.

Oil prices stabilized and have been hovering just below the $100-per-barrel mark. Gold, a common geopolitical hedge, rose to nearly the $4,800 mark as profit-taking slowed over the past couple of weeks.

A review of an important inflation gauge for February demonstrated that inflation remained largely sticky right before oil prices spiked. While personal spending was only slightly lower than expected, personal income disappointed significantly. The revision of year-end 2025 GDP also showed a considerable slowdown in the economy.

Looking ahead, a gauge of March inflation will be available tomorrow, and it can provide useful insights into how much oil prices have affected the economy.

Adams Wealth Advisor will continue to keep you informed.