Despite the holiday-shortened week, Wall Street was not short on drama to wrap up March and welcome in April. Just when geopolitical tensions appeared to be subsiding, a polarizing address from President Donald Trump sent all three major indexes back into a tailspin. Oil prices remained elevated, while tech stocks chopped throughout the week. The Dow Jones Industrial Average (DJI), Nasdaq Composite (IXIC), and S&P 500 Index (SPX), fresh off a brutal quarter, all finished with weekly gains.
Big Tech and Friends
Big Tech stocks, as they typically do, found themselves front and center this week. Apple (AAPL) is testing a key trendline that has options bulls on their heels. Nvidia (NVDA) pulled back to a historically bullish trendline. Oracle (ORCL) and Microsoft (MSFT) have their own problems, though their respective stocks were less impacted. Beyond the big wigs, while memory stock Marvell Technology (MRVL) won the week with its Nvidia deal, don't forget about Intel (INTC) and software stock Samsara (IOT).
Sectors Hit by Geopolitical Strife
It’s not just oil prices that are impacted by the Iran conflict. Aluminum prices are soaring, taking Alcoa (AA) with it. Nike (NKE) gave a dire sales warning for 2026 that overshadowed an earnings beat, while General Motors (GM) also stalled out on a sales warning of its own.
Planning For April With Expectational Analysis
Looking ahead to next week, we should expect fresh batches of inflation data and some of the first earnings reports for the new quarter. Plus, discount retailer Dollar General (DG), among 24 other stocks, are historical outperformers in April. Keep an eye on S&P 500 support levels amid the carnage, while also following along on our Substack, The Contrarian Edge, where we narrow down the best stocks for a standard June call option.
