Hope for the best, prepare for the worst.
That strategy worked out perfectly over the week for equity holders, oil shorts, and, to a lesser degree, stackers and hoarders of precious metals.
On the surface, new all-time highs made on the S&P 500 and NASDAQ resulted from apparent Iran-U.S. peace talks resumption and the opening of the Strait of Hormuz to commercial traffic, i.e. oil, gas, and petrochemicals. By Saturday, the peace talks were shelved until further notice (supposedly to restart Monday in Pakistan) and the Strait was once again closed.
Those who dare to peer deeper into the inner underworks of the financial system, see the fingerprints of the corrupt Trump regime, fronted by Secretary of the Treasury, Scott Bessent and Commerce Secretary Howard Lutnick. Bessent, being best known for his role in the demise of the British pound when working for Soros Fund Management, and Lutnick, famously the next-door neighbor of the infamous Jeffrey Epstein, are the primary lieutenants of tightly-knit criminal network operating out of the White House. The Trump family, from the president down to his three sons, Donald Jr., Eric, Barron, and Jared Kushner, husband of Ivanka are also deeply embedded.
Steve Witkoff, Trump's personal envoy, messenger, and economic hit man, is also an operative, along with some family members. The cabal has engaged in rampant and obvious market manipulation via Trump proclamations on social media and White House policies which change day-to-day, before and during the conflict with Iran and the broader Middle East. Using inside information, dis-and-mis-information tactics, and a gullible media complex, the criminal cartel extends into congress, to the benefit of various senators and representatives in the House.
The corruption is about as obvious as it possibly could be, yet, the American public follows aimlessly along, their 401k and retirement accounts bandied about, but mostly bolstered by the eventual upswings in stocks. Being primarily slavish and ignorant of the realities of politics, the U.S. population has been neutered by a long-running subversion of the media, which largely can't tell the difference between a silver dollar and a bus token and doesn't even try to discern truth from fiction.
Now that the "best" has been achieved with stocks up 13 straight sessions on the NASDAQ and closely similar advance on all the major indices, the "worst" is sure to follow, with the criminal riggers set to steal more wealth by sending stocks lower and oil prices higher.
Preparing for the worst might be putting it mildly as unchecked corrupt power becomes an existential threat to every living being. Profiting from the collusion of power, policy, and currency can come to some good if employed properly. Of course, those at the head of the chain of influence will use their wealth to solidify their power, vanquish their opposition, and spread chaos across the planet.
The intentions of those in power are utterly and ultimately destructive.
The teachings of the Christian Holy Bible, while maybe not everybody's "cup of tea", are both prophetic and, arguably, rooted in real life experience.
From the King James Bible, the Apostle Paul writes in 1 Timothy 6:10:
For the love of money is the root of all evil: which while some coveted after, they have erred from the faith, and pierced themselves through with many sorrows.
Prescient words to bear in mind as the world navigates muddy waters.
(Editor's Note: While the publication, Money Daily strives to provide relevant and useful investment and money management information, it does not generally endorse any specific religion or set of beliefs, though it does find the teachings and writings of many varieties of faiths and philosophies useful in directing moral and investment guidance. --FR)
Stocks
For a third straight week, stocks put in extraordinary gains.
For the Week:
Dow: +1530.86 (+3.19%)
NASDAQ: +1565.58 (+6.84%)
S&P 500: +309.17 (+4.54%)
NYSE Composite: +463.24 (+2.04%)
Dow Transports: +2083.04 (+10.24%)
The 6.84% and 10.24% rocket ships of the NASDAQ and Dow Transports must be considered as extreme outliers and thus not indicative of markets trading in fair, equitable, and rational manners. Thus, they are likely to not be sustained. Stocks were generally overvalued at the recent lows three weeks ago. Now, they are simply outrageous, and at a point suggesting only deep insider trading and significant self-dealing attributable to long-term shareholders simply adding holdings without regard to price. U.S. markets - and, largely, world markets in countries using fiat currencies, which is pretty much all of them - have been badly damaged and are becoming almost caricatures of themselves, larger than life and equally misrepresentative of reality. The investing world is controlled by billionaires, hedge funds, central banks, executive suites and other collusive elements, elevating risk beyond which most private investors would consider reasonable.
Extreme caution and risk aversion is not only advisable, it is becoming a practical necessity.
The Shiller PE ratio stood at 40.44 at the close of trading Friday, a level second only to the level of 44.19 reached at the peak of the dotcom spike in December 1999. Anybody unaware of what happened subsequent to the peak of the internet investing craze or the events leading to the Great Depression in 1929 should avail themselves of some financial and economic history. This time is not different.
The week ahead features a real cross-section of the economy includes reports from three airlines, a number of financials, oil-related stocks and a handful of Dow components.
Monday: (before open) Capital City Bank (CCBG), Cliffs (CLF); (after close) Steel Dynamics (STLD), Alaska Airlines (ALK)
Tuesday: (before open) 3M (MMM), Halliburton (HAL), United Health Group (UNH), DR Horton (DHR), GE Aerospace (GE), Synchrony Financial (SYF); (after close) United Airlines (UAL), Chubb (CB), Capital One (COF), Interactive Brokers (IBKR), Intuitive Surgical (ISRG)
Wednesday: (before open) Boeing (BA), AT&T (T), Boston Scientific (BSX), Philip Morris (PM), CME Group (CME); (after close) IBM (IBM), Tesla (TSLA), Texas Instruments (TXN), Southwest Airlines (LUV), CSX (CSX), Las Vegas Sands (LVS), Lam Research (LRCX)
Thursday: (before open) Dow (Dow), Freeport McMoRan (FCX), American Express (AXP), Lockheed Martin (LMT), American Airlines (AAL), Blackstone Group (BX), Nokia (NOK); (after close) Baker Hughes (BKR), Newmont Mining (NEM), Intel (INTC)
Friday: (before open) Proctor & Gamble (PG), Norfolk Southern (NSC), Western Union (WU), HCA Healthcare (HCA), Gentex (GNTX), Charter Communications (CHTR)
On the economic side, Tuesday brings forward March retail sales, business inventories, and pending home sales. On Wednesday, the EIA's weekly report on oil, gas, and distillates may move WTI and Brent futures. Weekly jobless claims appear Thursday prior to the opening bell and S&P reports global manufacturing and services data shortly after the open. It's actually a fairly light schedule of reporting leading into next week's FOMC meeting (April 28-29), which will be Jerome Powell's last as Chairman of the Federal Reserve, his term expiring on May 15.
Volatility is to be expected to continue amid the ongoing mangling and miscarriage of financial markets.
Treasury Yield Curve Rates
| Date | 1 Mo | 1.5 mo | 2 Mo | 3 Mo | 4 Mo | 6 Mo | 1 Yr |
|---|---|---|---|---|---|---|---|
| 03/13/2026 | 3.75 | 3.74 | 3.71 | 3.72 | 3.69 | 3.70 | 3.66 |
| 03/20/2026 | 3.73 | 3.71 | 3.72 | 3.74 | 3.73 | 3.79 | 3.80 |
| 03/27/2026 | 3.74 | 3.73 | 3.72 | 3.73 | 3.72 | 3.75 | 3.77 |
| 04/03/2026 | 3.71 | 3.73 | 3.73 | 3.71 | 3.71 | 3.73 | 3.72 |
| 04/10/2026 | 3.67 | 3.69 | 3.70 | 3.69 | 3.69 | 3.72 | 3.70 |
| 04/17/2026 | 3.69 | 3.70 | 3.73 | 3.70 | 3.69 | 3.69 | 3.64 |
| Date | 2 Yr | 3 Yr | 5 Yr | 7 Yr | 10 Yr | 20 Yr | 30 Yr |
|---|---|---|---|---|---|---|---|
| 03/13/2026 | 3.73 | 3.74 | 3.87 | 4.07 | 4.28 | 4.89 | 4.90 |
| 03/20/2026 | 3.88 | 3.90 | 4.01 | 4.20 | 4.39 | 4.97 | 4.96 |
| 03/27/2026 | 3.88 | 3.94 | 4.06 | 4.25 | 4.44 | 4.99 | 4.98 |
| 04/03/2026 | 3.84 | 3.88 | 3.99 | 4.17 | 4.35 | 4.91 | 4.91 |
| 04/10/2026 | 3.81 | 3.80 | 3.94 | 4.12 | 4.31 | 4.89 | 4.91 |
| 04/17/2026 | 3.71 | 3.72 | 3.84 | 4.04 | 4.26 | 4.85 | 4.88 |
The Middle East situation continues to shed light and instruction on the entire treasury complex, though longer-dated maturities continue to trend higher. Central bank (the Fed) and primary dealers seek to ameliorate the condition of rising long rates by direct purchase and open market operations.
Spreads remain elevated with full spectrum at +119. With the 30-year yeild dropping five basis points on Friday alone, per the temporary "opening" of the Strait of Hormuz, the tenor of high yield spreads continues to seek upside. 2s-10s remain muted and well off January peaks.
Next week's FOMC meeting will be Jerome Powell's last as Fed Chairman, though Trump appointee Kevin Warsh still has not been confirmed. The Senate Committee on Banking, Housing, and Urban Affairs is scheduled to consider the nomination in a hearing on Tuesday, April 21, despite protests from prominent Democrats including Elizabeth Warren. 11 members of the committee sent a letter to chairman Tim Scott, requesting a delay based on unresolved criminal investigations of Powell and Fed Governor Lisa Cook. If Warsh's nomination moves forward, which is an open question, the full Senate would need to approve, further complicating matters. President Trump has been harshly critical of Powell and seeks rate cuts via Warsh's expected leadership. Chaos is certain to maintain no matter what occurs in the Senate.
Critically, rate cuts would be about the most untimely policy move the Fed could make as there is ample evidence of rising inflationary pressures.
Spreads:
2s-10s
2026
1/2: +72
1/9: +64
1/16: +65
1/23: +64
1/30: +74
2/6: +72
2/13: +64
2/20: +60
2/27: +59
3/6: +59
3/13: +55
3/20: +51
3/27: +56
4/3: +51
4/10: +50
4/17: +55
Full Spectrum (30-days - 30-years)
2026
1/2: +114
1/9: +112
1/16: +108
1/23: +104
1/30: +115
2/6: +113
2/13: +97
2/20: +100
2/27: +90
3/6: +102
3/13: +115
3/20:
+123
3/
27: +1
24
4/3:
+120
4/10: +124
4/17: +119
Oil/Gas
WTI Crude Oil finished the week in New York at $84.00, down more than $5 from last Friday's close at 89.11. Once again, expectations for a peaceful settlement to aggressions in the Middle East and the alternating opening and closing of the Strait of Hormuz sent crude tumbling on Friday. With the Strait once again closed and some degree of peace talks scheduled to reopen Monday in Pakistan, Monday's open is likely to lean to the high side, making insiders a little richer in the process. Crude oil prices outside the mangled U.S. futures market are considerably higher, with reports out of Singapore revealing actual prices paid above $200 in some instances.
Average price for a gallon of unleaded regular gasoline in the U.S. was $4.10 last week and $4.01 this week. Optimism over opening the Strait of Hormuz lowered prices into the weekend, though the lowered prices may not last long with peak driving season and the intent to gouge consumers top of mind. Gas prices are likely to remain above $4.00 for some time in most states, possibly many months as there seems to be no lasting resolution to conditions in the Middle East.
Prices in key states:
California (leader): $5.83 (-0.05)
Washington: $5.37 (-0.00)
Oklahoma (lowest): $3.33 (-0.08)
Florida: $3.99 (-0.02)
Illinois: $4.28 (-0.10)
Pennsylvania: $4.09 (-0.05)
New York: $4.08 (-0.03)
Maryland: $4.02 (-0.09)
Texas: $3.63 (-0.16)
Georgia: $3.57 (-0.11)
As of Sunday, April 12, there are 12 states with average prices above $4.00, with two above $5 (California, Washington), and 36 below the $4 threshold, not including Hawaii ($5.68) and Alaska ($4.65). The Midwest has supplanted the Southeast as the lowest-priced region, with prices averaging 10-20 cents lower in states like South Dakota, Iowa and Kansas than Tennessee, Georgia and Mississippi.
Bitcoin
This week: $75,748.31
Last week: $70,755.74
2 weeks ago: $66,937.81
6 months ago: $110,245.10
One year ago: $87,152.38
Five years ago: $57,831.06
Bitcoin was fluctuating between $75,000 and $76,500 on Sunday morning, though it was above $78,000 on Friday, proving that there are still criminals and morons speculating in this nearly worthless asset and other crypto nonsense. Anybody who bought bitcoin in the past year has lost money. The tide has turned despite protestations from wall Street, certain whales controlling up to 90% of all bitcoin, and Trump supporters who can't help themselves from being fleeced by the current criminals in te White House and on Capitol Hill.
Precious Metals
Gold:Silver Ratio: 59.86; last week: 62.56
Futures, per COMEX continuous contracts:
Gold price 3/20: $4,492.00
Gold price 3/27: $4,521.30
Gold price 4/3: $4,702.70
Gold price 4/10: $4,771.00
Gold price 4/17: $4,849.40
Silver price 3/20: $67.81
Silver price 3/27: $69.77
Silver price 4/3: $73.17
Silver price 4/10: $76.03
Silver price 4/17: $81.58
SPOT:
(stockcharts.com)
Gold 3/20: $4,494.00
Gold 3/27: $4,495.05
Gold 4/3: $4,677.28
Gold 4/10: $4,751.68
Gold 4/17: $4,833.56
Silver 3/20: $67.79
Silver 3/27: $69.77
Silver 4/3: $73.02
Silver 4/10: $75.95
Silver: 4/17: $80.75
Both gold and silver produced reasonable gains for the week. Physical market (primarily eBay) has nearly fully disconnected from futures, reflected in what have become known as 'premiums' (premia is correct), though reality is simply pricing different from various sources (COMEX, Shanghai, Dubai (very questionable under current conditions), New Delhi, St. Petersburg), in this instance, to the high side.
Spot markets were lashed into the close on Friday, with gold dropping some $60 through the week's final session and silver losing nearly $2.50 from the day's high into the close, which was the low print of the day. The elements of price suppression have been working overtime the past three months after both metals recorded significant all-time highs (Gold: $5,414.00; Silver $116.55). As long as the 50+ year regime of price suppression remains functional, interested parties should rely more on alternative markets that price in realistic, physical delivery terms, such as eBay, coin dealers, some foreign markets and their own intuition for proper price guidance.
It's important for investors in precious metals to understand that the world is undergoing extraordinary changes and markets cannot be trusted to deliver consistent pricing. With gold and silver, however, the price one pays is what one considers fair value and that should always be a primary consideration, along with intent. Since most buyers of precious metals don't intend to become sellers of same for long periods (sometimes generations), gold and silver can be seen as primary preservers of wealth and purchasing power over long horizons. Thus, price may be only a minor consideration or temporary inconvenience since both metals have intrinsic value as ultimate forms of money.
Here are the most recent prices for common one ounce gold and silver items sold on eBay (free shipping included, numismatics excluded):
| Item/Price | Low | High | Average | Median |
|---|---|---|---|---|
| 1 oz silver coin: | 79.00 | 114.95 | 91.85 | 86.50 |
| 1 oz silver bar: | 81.00 | 113.45 | 96.64 | 97.00 |
| 1 oz gold coin: | 4896.51 | 5250.72 | 5066.37 | 5057.89 |
| 1 oz gold bar: | 5011.26 | 5941.80 | 5125.33 | 5042.38 |
The Single Ounce Silver Market Price Benchmark (SOSMPB) made a significant gain this week, to $93.00, a rise of $6.04 from the April 12 price of $86.96 per troy ounce.
WEEKEND WRAP
Expect everything about markets and finance to deteriorate even more in weeks and months ahead so long as Donald J. Trump remains president and manipulates markets by which to line the pockets of his cabal and billionaire friends. Higher prices for everything essential, more obvious market manipulation by the most corrupt government in world history and war crimes by the U.S. and Israeli junta are just a few of the manifestations of foreign policy guided by greed, lust for power, social media tweets, and madness.
In case there's any confusion pertaining to the degree of hopelessness that has pervaded U.S. and Western societies, become heedful of the incidence of people saying, "there's nothing we can do about it." That phrase has become almost a mantra for the decline of civilization and distrust of institutions.
Money Daily stands by its assessment of relevant facts and is opposed to the criminal behavior at the highest levels of the U.S. government and in financial circles.
At the Close, Friday, April 17, 2026:
Dow: 49,447.43, +868.71 (+1.79%)
NASDAQ: 24,468.48, +365.78 (+1.52%)
S&P 500: 7,126.06, +84.78 (+1.20%)
NYSE Composite: 23,197.74, +242.15 (+1.05%)
For the Week:
Dow: +1530.86 (+3.19%)
NASDAQ: +1565.58 (+6.84%)
S&P 500: +309.17 (+4.54%)
NYSE Composite: +463.24 (+2.04%)
Dow Transports: +2083.04 (+10.24%)
Disclaimer: Information disseminated on this site should not be construed as investment advice. Downtown Magazine Inc., Money Daily and it's owners, affiliates and/or employees are not investment advisors and do not offer specific investment advice. All investments have risk. You should consult a professional investment advisor or stock broker or use your individual judgement when making investment decisions. By viewing this site, you hold harmless Downtown Magazine Inc., Money Daily, its owners, affiliates and employees against any and all liability. Copyright 2026, Downtown Magazine Inc., all rights reserved.
With a ceasefire between Israel and Lebanon apparently moving forward, Iran's Foreign Minister Seyed Abbas Aragchi posted the following on X early Friday morning:
As usual, America's thoughtless Loudmouth-in-Chief started off Friday morning by insulting somebody, responding to a post by picking on poor Tucker Carlson:
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