Stocks posted solid gains this week as a two-week ceasefire agreement between the U.S. and Iran helped ease geopolitical risk and drive a sharp decline in oil prices, supporting a broad-based rebound in equities.

The S&P 500 (+3.6%), Nasdaq Composite (+4.7%), and DJIA (+3.0%) all advanced, while the Russell 2000 (+4.0%) and S&P Mid Cap 400 (+3.4%) also finished higher, reflecting broad participation across the market.

Sector leadership was concentrated in growth and AI-linked areas, with communication services (+5.8%) and consumer discretionary (+5.8%) leading, alongside information technology (+4.8%).

Within tech, semiconductor strength was a key driver, while software lagged. Mega-cap growth also contributed, due to solid gains from Amazon (+13.7%) and Meta Platforms (+9.6%).

Industrials (+4.7%) and materials (+3.5%) posted strong gains as well, while financials (+2.4%), real estate (+2.9%), utilities (+1.3%), consumer staples (+0.5%), and healthcare (+0.4%) all finished higher but more modestly. Energy (-4.1%) was the clear laggard as crude oil fell nearly $15 per barrel amid easing geopolitical risk.

Friday’s March CPI report provided the key macro check late in the week, with headline inflation running hotter due to energy costs while core inflation was more contained. Overall, the week was defined by easing geopolitical tensions, a sharp reversal in oil prices, and continued leadership from AI and semiconductor-related equities, with focus now turning to upcoming U.S.–Iran talks for clarity on whether the ceasefire can evolve into a more durable agreement.

Nasdaq Composite: +4.7% week-to-date
Russell 2000: +4.0% week-to-date
S&P 500: +3.6% week-to-date
S&P Mid Cap 400: +3.4% week-to-date
DJIA: +3.0% week-to-date