Weekly Market Recap – Week Ending April 02, 2026
U.S. equity markets continued their upward momentum over the past week, with broad-based gains across major sectors led by technology, industrials, and small-cap stocks. Growth-oriented ETFs, such as the NASDAQ 100 and Technology Select Sector, stood out with strong advances that reflect renewed investor confidence in innovation-driven segments. Meanwhile, financials, materials, and communication services also posted solid gains, signaling a constructive risk-on environment. The notable exception was the energy sector, which faced pressure amid declining oil prices. This highlights a divergence in sector performance as markets re-calibrate expectations around global demand and macroeconomic trends.
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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:
After a disastrous March for all the major foreign and domestic indexed ETFs invested in broad market indexes, US investors bought the dip last week. Nevertheless, we expect that most investors will see that as a “dead cat bounce” until more clarity is brought to the global geopolitical situation. For ValuEngine, the best strategy we can promote is to stay the course in using data-driven tools for investment decisions, not fears of wars raging out of control while the US struggles to find an exit strategy.
The good news is that our models now consider just 52% of the stocks we follow to be overvalued as compared with more than 65% six months ago. Stock recently upgraded to 4 (Buy) include: Natural resources provider Cadiz Inc. (CDZI); Biocrystal Pharmaceuticals Inc., (BCRX), a leader in the use of crystallography and structure-based drug design; Gilead Sciences (GILD), a leader in HIV and other immunodeficiency treatments; and hardware supplier Fastenal (FAST). Although we do not currently recommend large cap health care as shown by our 2 (Sell) rating on the StateStreet Select Health Care SPDR ETF XLV, there are a number of biotech stocks that are recommended now for consideration for potential purchase.
Two new ValuEngine downgrades are in two of the industries most affected by the increases in fuel prices and global fighting. Airline JetBlue (JBLU) has been downgraded to 2 (Sell), and logistics provider RXO Inc. (RXO) has also been downgraded to 2. These companies will be challenged to maintain positive earnings streams until fuel prices stabilize and shipping businesses return to something resembling normalcy.
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