Week-to-date performance through Tuesday Apr 14 close | S&P 500 nearing all-time high of 7,002
The Nasdaq just posted its 10th consecutive winning session — the longest streak since 2021 — finishing at 23,639 on Tuesday with a cumulative 8% gain over those 10 sessions. The S&P 500 is within striking distance of its January 28 all-time high of 7,002.28. Wednesday futures are flat as markets digest the rally.
Key Themes This Week:
| # | Ticker | Company | WTD % | Friday Close → Now | Portfolio |
|---|---|---|---|---|---|
| 1 | IONQ | IonQ Inc | +24.21% | $28.79 → $35.76 | FTM |
| 2 | IREN | IREN Limited | +20.47% | $39.32 → $47.37 | FTM |
| 3 | QBTS | D-Wave Quantum | +19.09% | $14.25 → $16.97 | FTM |
| 4 | OKLO | Oklo Inc | +16.58% | $50.25 → $58.58 | FTM |
| 5 | AFRM | Affirm Holdings | +15.02% | $48.53 → $55.82 | Quarantine |
| 6 | RGTI | Rigetti Computing | +14.92% | $14.68 → $16.87 | FTM/Quarantine |
| 7 | CRWV | CoreWeave | +14.90% | $102.00 → $117.20 | FTM |
| 8 | QUBT | Quantum Computing | +14.87% | $7.06 → $8.11 | FTM |
| 9 | LMND | Lemonade Inc | +14.73% | $54.45 → $62.47 | Quarantine |
| 10 | NNE | NANO Nuclear Energy | +13.29% | $20.76 → $23.52 | FTM |
Notable runners-up: AUR +12.5%, WGS +12.1%, SNOW +11.9%, NBIS +11.7%, OWL +11.4%, SMR +11.3%, ZETA +10.9%, APP +10.8%, MU +10.7%, SOFI +10.4%
Theme: Quantum computing is the clear leader (IONQ, QBTS, RGTI, QUBT all top 10). AI/data center infrastructure (IREN, CRWV, NBIS) and nuclear (OKLO, NNE, SMR) also surging. The “Follow the Money” portfolio is absolutely dominating this week.
| # | Ticker | Company | WTD % | Friday Close → Now | Portfolio |
|---|---|---|---|---|---|
| 1 | ASTS | AST SpaceMobile | -6.67% | $94.90 → $88.57 | FTM |
| 2 | MO | Altria Group | -2.61% | $67.38 → $65.62 | Bahnsen |
| 3 | GIS | General Mills | -2.50% | $35.59 → $34.70 | Bahnsen |
| 4 | XOM | Exxon Mobil | -2.14% | $152.51 → $149.24 | Bahnsen |
| 5 | CF | CF Industries | -1.95% | $121.32 → $118.96 | Katusa |
| 6 | EOG | EOG Resources | -1.91% | $136.19 → $133.59 | Loring WC |
| 7 | FSLR | First Solar | -1.41% | $203.47 → $200.61 | FTM |
| 8 | WMT | Walmart | -1.36% | $126.77 → $125.05 | Bahnsen |
| 9 | NEM | Newmont Corp | -1.32% | $120.90 → $119.30 | Gold |
| 10 | VZ | Verizon | -1.22% | $46.04 → $45.48 | Bahnsen |
ASTS is the biggest loser — down nearly 7% despite a rising market. The drop is attributed to competition fears from Amazon’s Globalstar deal and SpaceX IPO rumors. The stock is down 25%+ from YTD highs.
Energy weakness: XOM (-2.1%), EOG (-1.9%), CVX (-0.8%) are pulling back as oil retreats from $104 highs. Paradoxically, the oil pullback is good for the broader market but bad for energy names.
Defensive laggards: GIS, MO, WMT, VZ, KO (-2%), PG (-0.5%) — classic defensive/dividend stocks underperforming as money rotates into growth.
| Rank | ETF | Country/Region | WTD % |
|---|---|---|---|
| 1 | EWY | 🇰🇷 South Korea | +5.73% |
| 2 | ECH | 🇨🇱 Chile | +3.30% |
| 3 | EWO | 🇦🇹 Austria | +2.97% |
| 4 | EWD | 🇸🇪 Sweden | +2.85% |
| 5 | IEMG | 🌏 Emerging Markets | +2.76% |
| 6 | GREK | 🇬🇷 Greece | +2.75% |
| 7 | EFNL | 🇫🇮 Finland | +2.70% |
| 8 | EIDO | 🇮🇩 Indonesia | +2.69% |
| 9 | EPOL | 🇵🇱 Poland | +2.42% |
| 10 | SPY | 🇺🇸 United States | +2.21% |
Key Comparison: - SPY (US): +2.21% - VT (Total World): +2.15% - IEMG (EM): +2.76% — EM outperforming US - VGK (Europe): +1.50% — lagging - IWM (Small Cap): +2.84% — small caps leading
Bottom: EWW 🇲🇽 Mexico -0.96%, QAT 🇶🇦 Qatar -0.67%, NORW 🇳🇴 Norway -0.50%, ARGT 🇦🇷 Argentina -0.12%
Standout: South Korea (+5.7%) is dramatically outperforming, likely driven by Samsung memory earnings confirming AI chip demand. Norway and Qatar (both energy-heavy) are down as oil pulled back.
| Maturity | Current Yield | Weekly Chg |
|---|---|---|
| 2-Year | 3.761% | +0.01% |
| 5-Year | 3.889% | +0.018% |
| 10-Year | 4.272% | +0.016% |
| 30-Year | 4.883% | +0.014% |
Spreads: - 2s10s: +51.1 bps (positively sloped — normal) - 10s30s: +61.1 bps (steep long end) - 2s30s: +112.2 bps
Curve Shape: The yield curve remains positively sloped across all maturities. The long end (30Y near 4.9%) reflects persistent inflation concerns driven by the Hormuz energy shock. The 2Y at 3.76% suggests the market still expects the Fed to eventually cut, but the timeline has stretched significantly. The steepness of the 10s30s spread (61 bps) signals term premium repricing — the market wants more compensation for holding long-duration risk amid geopolitical uncertainty.
Next FOMC Meeting: April 28-29, 2026 (13 days away) - Market expects a hold — Fed funds rate remains at current level - The Hormuz energy shock has complicated the rate path: inflation is reaccelerating via energy, but growth is at risk - No rate cuts priced until at least June 16-17 meeting
Remaining 2026 FOMC Dates: Apr 28-29, Jun 16-17, Jul 28-29, Sep 15-16, Oct 27-28, Dec 8-9 (Summary of Economic Projections)
Fed Speakers This Week: - Austan Goolsbee (Chicago Fed President) — spoke at Semafor World Economy 2026 on April 14, panel on global economic outlook - Michael Barr (Fed Governor) — scheduled for April 19, speaking on AI and consumer issues at the National Fair Housing Alliance - IMF/World Bank Spring Meetings (Apr 13-18) ongoing — Fed officials likely participating in sideline discussions
Notable: 4 of 6 SA Quant Alerts are for stocks in Carlos’s portfolios (CEG, HII, NBIS, IONQ, IDR). The BWET alert is notable given it’s Carlos’s tanker shipping pick — down 9.7% WTD as oil pulls back.
| Index | WTD % | Level |
|---|---|---|
| SPY (S&P 500) | +2.21% | $694.46 |
| DIA (Dow 30) | +1.30% | — |
| IWM (Russell 2000) | +2.84% | — |
| Nasdaq Composite | ~+2.0% | 23,639 (10-day win streak!) |
| Gold (GLD) | +1.82% | $445.08 |
| WTI Crude | ~$91/bbl | (volatile — $104 Sun → $91 Wed) |
| Brent Crude | ~$94-95/bbl | (from $102 Sunday) |
| Bitcoin | ~$71,170 | +0.9% |
Nasdaq’s 10-day streak is historic — longest since 2021. The rally is tech-led, quantum-led, and AI-led. S&P 500 within 1% of all-time highs.
Hormuz blockade paradox: The blockade is bearish for energy supply, but the oil pullback from $104→$91 on talk hopes is fueling the equity rally. If talks collapse again, expect a sharp reversal.
Follow the Money portfolio is on fire — 7 of the top 10 WTD performers are FTM holdings. Quantum, nuclear, and data center themes are dominating.
Defensive rotation OUT — Bahnsen portfolio names (MO, GIS, WMT, VZ, PG, MCD) are all lagging as money chases growth.
Gold quietly strong — +2.6% average across the gold portfolio despite the “risk-on” tape. Geopolitical bid providing support.
ASTS is the concern — down 7% against a surging market. Competitive headwinds from Amazon-Globalstar and SpaceX IPO chatter.
FOMC in 13 days — April 28-29 meeting approaching. Energy-driven inflation complicates rate path. Hold expected.
Report generated: April 15, 2026 9:19 AM ET | Data through April 14 close Next report: Friday April 17 — “Week Close”