Last week, growth was recorded on U.S. stock markets for the first time in the past six weeks. On a weekly basis, the S&P 500 index rose by approximately 3.36%, Nasdaq by 4.44%, and Dow Jones by 2.96%. The growth was driven by positive diplomatic signals from the Middle East last week, which reduced concerns about oil supply disruptions and stabilized investor sentiment.

Oil prices rose slightly again on Monday, as investors awaited clarification on the status of negotiations between the United States and Iran and remained cautious due to possible supply disruptions. Brent crude oil futures increased by 0.1%, reaching 109 dollars per barrel.

Gold prices showed a slight increase of 0.1% on Monday, reaching approximately 4,678 dollars per ounce, while futures rose by 0.6% to 4,706 dollars per ounce. The fluctuations were driven by news of a possible ceasefire in the Middle East at the end of last week, which reduced oil prices and the dollar exchange rate, while simultaneously affecting inflation expectations and interest rate forecasts.

Amid expectations of de-escalation in the Middle East, global equity funds recorded inflows of 15 billion dollars last week, continuing growth for the second consecutive week. At the same time, bond funds recorded outflows of about 19.6 billion dollars, and money market funds saw outflows of 16.9 billion dollars, indicating a shift by investors toward riskier assets. However, emerging markets continue to remain under pressure, maintaining a trend of capital outflows.

European stock markets recorded a sharp decline in March amid rising oil prices, supply disruptions through the Strait of Hormuz, and increasing inflationary pressure. The STOXX 600 index fell by approximately 8%, marking the largest monthly decline in nearly four years. On a quarterly basis, the decline amounted to about 1.5%.

Large-scale investment programs by technology giants in artificial intelligence, which in recent years have been the main driver of stock market growth, may be revised. The risks are associated with the sharp increase in energy prices amid the war in the Middle East, which raises data center costs and puts pressure on corporate profitability and overall economic growth. Although companies have not yet reduced investment programs, high energy prices may lead to spending cuts and trigger a large-scale market correction.

The expected initial public offering (IPO) of SpaceX led to a rise in shares of aerospace companies of up to 11%. The growth is explained by the fact that the transformation of SpaceX from a private company into a public one is viewed as a major positive signal for the entire industry, capable of attracting new investments and revitalizing the market.

Among companies with a market capitalization of at least 10 billion dollars, the largest growth last week was shown by Alcoa Corporation (AA), an aluminum producer. Its shares rose by 24.18% (to 71.53 dollars per share). It was followed by SBA Communications Corporation (SBAC), operating in telecommunications infrastructure — growth amounted to 22.79% (204.04 dollars). The top three was completed by gold mining company Equinox Gold Corp. (EQX), with growth of 21.28% (14.59 dollars).

Last week, the trio of large-cap companies recording the biggest losses was led by sportswear and footwear manufacturer NIKE, Inc. (NKE), whose shares declined by 15.13% over the week ($44.19). The drop was driven by problems arising amid the war in the Middle East, particularly a 20% decline in sales in the Chinese market. It was followed by Texas Pacific Land Corporation (TPL), engaged in the management of land assets and energy resources, with a decline of 14.94% ($444.24). The trio was rounded out by Aptiv PLC (APTV), a supplier of automotive technologies and electronics, with a decline of 9.42% ($60.36).

In the United States, the number of new unemployment benefit claims fell by 4% last week, indicating continued relative resilience in the labor market. The unemployment rate remains at around 4.4%. However, the situation is complicated by oil prices rising by more than 50% amid the conflict in the Middle East, higher gasoline prices, and market volatility, which may limit consumer spending. Economists warn that if the conflict drags on, the labor market may weaken and unemployment may rise.

Citigroup has postponed its forecast for the Federal Reserve’s refinancing rate cut — it now expects a total reduction of 75 basis points between September and December instead of the previously expected June timeline. This is due to stronger-than-expected labor market data and persistent inflation risks, which are forcing the market to revise the timing of monetary policy.

On April 6, 2026, government bonds worth 3 billion drams were placed on the Armenian securities market, with a maturity date of April 5, 2027. Two participants took part in the public auction, and the total volume of their bids amounted to 9.8 billion drams. The weighted average price of the placed bonds amounted to 93.4 drams, and the yield was 7%.

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