tocks navigated a volatile week but ultimately finished higher, overcoming pressure from rising bond yields and ongoing geopolitical developments.
Early in the week, markets moved lower as the 30-year Treasury yield climbed to its highest level since 2007, raising concerns about borrowing costs and future economic growth. Bond yields eased later in the week, helping improve investor sentiment. Also helping were strong corporate earnings announcement
Markets also reacted to daily developments surrounding negotiations aimed at ending the Iran conflict, contributing to continued volatility. Despite the uncertainty, all major market indices finished the week in positive territory, led by the Russell 2000 small-cap index, which posted the strongest gains.
Economic news was relatively light. The University of Michigan consumer sentiment survey fell to an all-time low as consumers remained concerned about inflation pressures. Meanwhile, several Federal Reserve officials indicated that persistent inflation could keep additional rate hikes on the table, including the possibility of action at the June meeting.
Markets continue balancing inflation concerns, interest rate expectations, geopolitical developments, and corporate earnings as investors look ahead to upcoming economic data and Federal Reserve decisions.
Treasury Yields
- 30-year Treasury: 5.068% (lower)
- 10-year Treasury: 4.563% (lower)
Mortgage Rates
- Average 30-year fixed (Freddie Mac): 6.51% (much higher)
Commodities & Currency
- U.S. dollar index: 99.29 (lower)
- Crude oil: $96.15 per barrel (lower)
- Natural gas: $3.026 (higher)
- Gold: $4,510.40 per ounce (lower)
- Silver $75.86 per ounce (lower)
Commerce Department
New Residential Construction (April)
- Starts -2.8% month, +4.6% 12 months
- Permits -0.2% month, +5.8% 12 months
Labor Department
Jobless Claims (prior week)
- New Claims 209,000 (lower)
- 4-week Moving Average 202,500 (lower)
- Total Claims 1,776,000 (lower)
Energy & Industry Data
Energy Information Administration
- Weekly Oil Production 13.702 million barrels (lower)
- Natural Gas Storage +101 billion Cu.Ft., above average for this time of year over the past 5 years.
Baker Hughes Rig Count
- Oil rigs: +10 at 425
- Gas rigs: -3 at 125
Factset reported with 94% of S&P 500 companies reporting, blended Q1 earnings are up 28.4% from a year ago.
(All data was released the week of 05/18/2026)
(All monthly statistics are seasonally adjusted unless stated otherwise).
Loren Rex – Emeritus
Erik A Smith, AIF® – President & C.E.O.
Nicholas Acri, CFP® – Partner & Wealth Advisor
Dylan Thomas, CFP® – Partner & Wealth Advisor
Jack Zeeb – Wealth Advisor
These are the opinions of Loren Rex and Erik Smith and are not necessarily those of Cambridge, are for informational purposes only, and should not be construed or acted upon as individualized investment advice. The Indices mentioned are unmanaged and cannot be invested into directly. The Dow Jones Industrial Average, Dow Jones, or simply the Dow, is a stock market index of 30 prominent companies listed on stock exchanges in the United States. The DJIA is one of the oldest and most commonly followed equity indexes. The Nasdaq Composite is a stock market index that includes almost all stocks listed on the Nasdaq stock exchange (more than 2500 stocks).
Sources:
https://www.eia.gov/dnav/pet/hist/LeafHandler.ashx?n=PET&s=WCRFPUS2&f=W
https://ir.eia.gov/ngs/ngs.html
https://www.freddiemac.com/pmms
https://www.wsj.com/market-data?mod=nav_top_subsection
https://bakerhughesrigcount.gcs-web.com/na-rig-count
https://www.census.gov/economic-indicators
https://www.bls.gov/news.release/cpi.nr0.htm#cpi_pressa.f.1
MonthlyTreasuryStatement_202604.pdf
U.S. Import and Export Price Indexes April 2026
