Opening Comment — Thursday, April 16, 2026
DJIA: 48,463.72, down 72.27
S&P 500: 7,022.95, up 55.57
NASDAQ: 24,016.02, up 376.94
Stocks higher following peace-deal optimism
Stock futures are higher Thursday morning ahead of today’s update on unemployment claims, along with March’s industrial production and capacity utilization data. Meanwhile, markets remain optimistic that a U.S.-Iran peace deal will be reached. As of 7:20 AM ET, the Dow and the S&P 500 Index are both rising 0.1%. The Nasdaq 100 is increasing 0.2% relative to fair value on the GLOBEX.
U.S. equities were mixed on Wednesday as import prices posted a smaller than expected increase in March, rising 0.8% month-over-month (MOM) and 2.1% year-over-year (YOY). Meanwhile, export prices increased more than expected, climbing 1.6% MOM and 5.6% YOY. Homebuilder sentiment for April fell more than anticipated, while the Federal Reserve (Fed) Bank of New York’s Empire State Manufacturing Survey showed the headline general business conditions index rising significantly more than expected in April. The Dow was down 0.2%, while the tech-heavy Nasdaq Composite rose 1.6% and hit a new record closing level of 24016.02. The S&P 500 increased 0.8% and set a new record closing level of 7022.95, with four of 11 sectors finishing in positive territory. The Information Technology sector was the top performer, rising 2.1%, while the Materials sector was the bottom performer, falling 1.3%.
On the data front, the New York Fed will release their Business Leaders Survey for April, with the headline business activity index expected to improve to -20.0 from the prior month’s -22.6. Initial jobless claims for the week ending April 11 are expected to come in at 213,000, lower than the prior week’s 219,000. Continuing claims are expected to rise slightly to 1.81 million for the week ending April 4 from the prior week’s 1.79 million. The Philadelphia Fed’s Manufacturing Business Outlook Survey for April will be released, with the diffusion index for current general activity expected to fall to 10.0 from the prior month’s 18.1. Industrial production is expected to have expanded by 0.1% MOM in March, compared to the prior month’s increase of 0.2%, while capacity utilization is forecasted to remain steady at 76.3%.
Across the pond, European stocks are higher in mid-day trading as the U.K.’s gross domestic product (GDP) rose more than projected, increasing by 0.5% MOM in February. The country’s industrial production posted a greater-than-forecasted increase in February, increasing by 0.5% MOM, while the YOY reading declined less than expected, falling by 0.4%. Meanwhile, the British visible trade deficit widened less than forecasted in February and the Index of Services rose 0.5% MOM.
Overnight in Asia, stocks were mixed as China’s first-quarter GDP growth accelerated to 1.3% quarter-over-quarter and 5.0% YOY. In March, the country’s retail sales rose less than expected, increasing by 1.7% YOY and industrial production came in above expectations, climbing 5.7% YOY. Meanwhile, China’s March surveyed jobless rate ticked up to 5.4%. Australia’s employment change came in lower than projected for March while the unemployment rate remained steady at 4.3% as the country’s labor force participation rate declined to 66.8%.
In FOREX trading, the U.S. dollar is higher as investors await today’s unemployment claims data.
Over in the commodity pits, West Texas Intermediate (WTI) crude oil is 1.2% higher at $92.40/barrel following an unexpected decline in U.S. crude oil inventories.
In the metals complex, gold is 0.5% higher at $4,815.13/ounce despite a strengthening U.S. dollar.