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Weekly Market Snapshot: Geopolitical Fog Meets Earnings Season as Markets Grind Higher

Week ending April 24, 2026 | Canadian Money Brief – moneysavings.ca Markets this week found themselves caught between two powerful forces: a roaring U.S. earnings season pushing stocks to fresh records, and a simmering Middle East conflict keeping oil elevated and investor nerves frayed. For Canadians, that makes for a complicated but important picture heading into the last week of April. TSX Composite: Stuck in the Mud The S&P/TSX Composite spent the week trading in a tight band near the 34,000 mark, unable to mount a meaningful rally. Tuesday delivered a sharp blow — the index plunged over 550 points to close at 33,808 as U.S.-Iran ceasefire talks collapsed after U.S. Vice President JD Vance abruptly cancelled his Pakistan trip, where he was set to lead negotiations. Wednesday brought a partial recovery, with the TSX adding roughly 0.4% to close at 33,955 , helped by gains in energy and mining stocks following President Trump's announcement of an indefinite ceasefire ex...
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Tech Rally Fatigue: Nvidia’s Impact on US Stocks


The US stock market remained relatively flat today, with the benchmark S&P 500 unchanged and the tech-heavy Nasdaq Composite gaining 0.2%. However, this stability is notable because it follows a recent surge driven by artificial intelligence (AI) stocks, particularly Nvidia (NVDA). Nvidia briefly held the title of the world’s most valuable company this week, but today it faced a decline of over 1%. Other chip stocks, including Broadcom (AVGO), Super Micro Computer (SMCI), and Qualcomm (QCOM), also dipped alongside Nvidia.

Investors are closely monitoring the broader health of the US economy and the path for interest rates. Former St. Louis Fed president James Bullard suggested that last week’s cool Consumer Price Index reading could lead to a rate cut in September. While around two-thirds of traders still expect rate cuts to begin then, uncertainties remain.

In summary, the AI-fueled rally showed signs of fatigue today, and Nvidia’s performance played a significant role in shaping market sentiment.

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