Weekly Market Recap – Week Ending May 01, 2026
U.S. equity markets continued to grind higher this week, with broad-based gains across major indices and sectors, albeit at a more measured pace compared to the strong momentum seen in recent weeks. Technology and growth-oriented names remained key drivers of performance, while energy stocks also posted notable gains, reflecting continued strength in underlying commodity trends. Defensive sectors such as consumer staples, utilities, and real estate also saw steady inflows, suggesting that investors are maintaining a balanced positioning amid ongoing macro uncertainty. Overall, the market tone remains constructive, with selective leadership in high-growth and cyclical segments complemented by resilience in traditionally defensive areas.
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In the below tables we use major ETF’s as a proxy for some major indexes as well as each of the sector groups into which we divide the overall markets. Tracking these over time provides a more defined picture of the US markets than simply tracking major indexes. This is followed by notable individual stock movers over the past month, and finally our full strategy outlook.
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Strategy Note:
For the the next two issues our usual blog article editor is on a well deserved vacation. Our strategy notes for these next two issues will be abbreviated, but we will provide some additional data from the usual tables listed above in his absence.
One of the many metrics that ValuEngine tracks is the percentage of stocks over versus undervalued at any given time. This provides some insight into how the overall quantitative modeling project at ValuEngine views current markets. The below chart is as of today, Monday May 4th. While there are more overvalued stocks than undervalued, this ratio is well within our normal range. A ratio of 70% overvalued to 30% undervalued (or worse) is where the models become very predictive in terms of predicting a possible market downturn of significance. If that were to happen and you read this blog regularly, you will know as ValuEngine will feature this topic prominently at that time. We are not near that level currently.
These numbers are based on all of the fundamental, technical, and other data that ValuEngine tracks and uses in the modelling. Here is a link for a summary description about the ValuEngine models: https://ww2.valuengine.com/about-us-and-ve-models/ It is of course impossible to predict how the conflict in the middle east will progress. The below is based on “The Numbers”.
The ValuEngine valuation and forecast target prices are updated every trading day at market close. This creates a system that is highly responsive to all sorts of changes in the overall markets down through individual sectors and of course individual stocks.
Next week we will provide numbers for the 15 sector groups that ValuEngine tracks, including which are the most over and undervalued.
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