By Stephen Rohrer (Wealth Manager) at Life Financial Group
Originally shared on the Life in the Markets podcast — 4/13/2026
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*Note: you will get the most out of this market update by watching the video above*
Market Update for April 13, 2026
Last week the market was positive, but the consumers were not. The major indexes performed rather like thoroughbreds in the Grand National steeplechase race – steady progress with a big jump in the middle.
The S&P 500 closed up 3.56%, Nasdaq up 4.45%, Russell 2000 small cap up 4.14%, and the MSCI EAFA international was up 4.27%. Much of this came on Wednesday when they all jumped up.
The only major item in the red last week was oil – down almost 15%. All good news and mostly related to the 2-week ceasefire (of sorts) announced between the US and Iran. While this ceasefire has not resulted in a peaceful Middle East, it did encourage investors that the end (at least of the Strait of Hormuz blockade) might be near.
However, several consumer sentiment reports showed that the average American was feeling the effects of inflated oil prices and was not hopeful that those effects would be easily undone.
In fact, the University of Michigan’s consumer confidence level dropped to the lowest it’s been since the 1970s. The current level of 47.6 is a significant drop from the pre-Iran war level of 56.6.
The number of consumers who blamed high prices for poor personal finances jumped from 47% to 54%. Consumers’ expectations for inflation also turned sour. They were starting to think inflation would come down, but after the war and oil prices jumped, so did their expectations for inflation. They now think inflation for the year ahead will be 4.8% instead of 3.8%.
The CPI report for March came out and inflation–particularly including fuel–did increase 0.9% in March. This is substantial. In fact, the last time there was a bigger jump was back in 2022. Much of this was of course driven by a 21% increase in the price of oil. If you take food and fuel out of the equation, otherwise known as “core” CPI, it did not go up as much as expected. It only rose 0.2% month/over/month vs 0.3% that was forecasted. Of course, as we’ve been saying, the longer oil prices stay escalated the greater and longer the delayed impact will be as the cost of transporting all goods has a lagging effect on the price of those goods in the months to come.
https://www.sca.isr.umich.edu/
What can we expect in the week to come?
Much depends this week on what happens with the Strait of Hormuz and how much the firing will cease. The CPI report showed that prices have gone up–primarily in regards to fuel–but the market knew this already, and it was mostly priced in. With the new round of blockades, oil is going up again – already back up to $104 this morning.
What should we do?
Learn from this week. If you had gotten out of the market a week and a half ago, you would have missed a significant rebound. Who could have said that the market would go up and keep going up this past week with a major jump to boot? Trying to time the market is like trying to guess which runner will trip in a race and at exactly which inch.
Stay invested and remain focused on the big picture. Focus on the fundamentals not the fearmongering.
In the “Hall of Faith” passage in Hebrews 11, the author points out examples of believers all through history who have walked by faith and kept their eyes on the end goal. While investing is not our spiritual run, it is a discipline. We must also keep our mind fixed on the end goal–not the current ups and downs of the race. Are we going in the right direction for the right reason? That is the question we must ask ourselves–and not just about our investments.
With that question to reflect on, let us close with Hebrews 12:1-2: “Therefore, since we are surrounded by so great a cloud of witnesses, let us also lay aside every weight, and sin which clings so closely, and let us run with endurance the race that is set before us, 2 looking to Jesus, the founder and perfecter of our faith, who for the joy that was set before him endured the cross, despising the shame, and is seated at the right hand of the throne of God.”
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Disclaimer: The topics discussed here are for informational purposes only and do not constitute specific investment advice. Investing involves risks, including potential loss of principal. Past performance does not guarantee future results. Securities and advisory services offered through Geneos Wealth Management, member FINRA/SIPC.
