The aBP Weekly: US Stock Market Hits New Highs, but Relief Still Drove the Rally
- Felix Ouma
- Apr 18
- 5 min read
Market Sentiment Improved Again
This week felt like a continuation of the rebound, but with a slightly different tone. Instead of simply clawing back losses from a sharp selloff, markets spent the week building on recent gains and pushing toward fresh highs. The rally looked less defensive and more confident, especially in technology and other growth-heavy parts of the market. Even so, the move still felt tied to relief rather than full conviction. Investors were willing to buy risk, but they were doing so in an environment where headlines still mattered and where confidence could still shift quickly if the backdrop changed.
By Thursday, the S&P 500 and Nasdaq had both closed at record levels, helped by stronger-than-expected earnings, renewed interest in AI and large-cap technology, and a growing sense that the latest geopolitical stress might remain contained. The rebound became more convincing as the week progressed, but it never felt fully detached from macro risk. The US stock market was stronger, yes, but it was also clearly leaning on the hope that the worst-case scenarios in energy and geopolitics would not materialize.
