U.S. stock markets posted strong gains last week amid optimistic expectations tied to Iran reopening the Strait of Hormuz and the prospect of a possible agreement with the United States. The S&P 500 rose 4.53% over the week, the Nasdaq Composite gained 6.84%, and the Dow Jones Industrial Average advanced 3.2%. However, after last week’s record rally, U.S. stock index futures edged lower on Monday amid concerns that the ceasefire could collapse as tensions between the U.S. and Iran escalate.

European stock markets also recorded notable gains on the back of positive news from the Middle East. The pan-European STOXX Europe 600 index rose 1.6% over the week, marking its fourth consecutive weekly gain and approaching pre-conflict levels. However, on Monday, amid concerns over the durability of the ceasefire between the U.S. and Iran, European markets declined again, with the STOXX Europe 600 falling 1.1% in early trading.

Escalating tensions around the Strait of Hormuz also affected oil prices. On Monday, Brent crude rose by around 6% to $95.85. At the same time, oil prices had dropped sharply the previous week, which also supported market gains by easing concerns about inflationary pressures.

Global equity funds recorded a fourth consecutive week of inflows in the week ending April 15. This was driven by strong corporate earnings and last week’s optimism about a potential swift resolution of the conflict with Iran. Investors poured approximately $31.26 billion into global equity funds—the largest weekly inflow since late March.

U.S. funds attracted $21.25 billion, European funds $9.38 billion, while Asian funds saw outflows of $2.06 billion. The largest inflows were directed into the technology, industrial, and mining sectors. Inflows into bond funds declined to $7.59 billion, while short-term bond funds recorded outflows. Money market funds also saw a significant outflow of $173.24 billion, indicating that investors are shifting toward higher-risk assets.

The week’s most successful rebranding story was Allbirds, whose shares surged 435% after the company announced a shift in its business strategy. The footwear manufacturer will now focus on developing artificial intelligence infrastructure and will eventually be renamed “NewBird AI.”

Among companies with a market capitalization of at least $10 billion, the biggest gainer last week was car rental services provider Avis Budget Group, Inc. (CAR), whose shares jumped 64.65% to $493.86. It was followed by quantum computing company IonQ, Inc. (IONQ), up 60.09% to $46.09. Biotech firm Revolution Medicines, Inc. (RVMD) rounded out the top three, with its shares rising 54.13% to $148.63.

The trio of large-cap companies posting the steepest declines last week was led by liquefied natural gas (LNG) producer and exporter Venture Global, Inc. (VG), whose shares fell 11.64% to $11.46. It was followed by aluminum producer Alcoa Corporation (AA), down 10.15% to $65.62. Chemical company LyondellBasell Industries N.V. (LYB) closed the list, with shares declining 10.11% to $66.27.

U.S. industrial production unexpectedly declined in March after two consecutive months of growth, mainly due to a drop in automobile output and several other goods. According to the Federal Reserve, production fell by 0.1%. Despite the monthly decline, the sector posted a modest year-on-year increase, while first-quarter data point to a degree of recovery.

U.S. import prices rose more slowly than expected in March, increasing by 0.8%. However, the broader trend still indicates accelerating inflation in imported goods. Despite the weak monthly figure, economists note that the sharp rise in oil prices has not yet been fully reflected in the data and will likely show up in April reports. On an annual basis, import prices rose by 2.1%, marking the fastest increase since 2024.

According to the International Monetary Fund, economic growth in the eurozone is expected to slow in 2026, while inflation will rise—even if the impact of the Iran-related conflict eases by mid-year. Growth is projected to fall to 1.1% as high energy prices continue to weigh on the economy, particularly given the eurozone’s heavy dependence on imported energy. Under these conditions, the European Central Bank is expected to raise its refinancing rate by around 50 basis points over the course of 2026 to curb inflationary pressures.

On April 20, 2026, Armenian government bonds worth 3 billion drams were placed on the domestic securities market, with a maturity date of February 1, 2027. Three participants took part in the public auction, submitting bids totaling 11.75 billion drams. The weighted average price of the bonds was 94.8 drams, with a yield of 6.8%.