SAAM Daily Closing Brief — April 13, 2026

Stocks rallied broadly, shrugging off a fresh oil shock. Software-led tech and a clean Goldman Sachs print carried the S&P 500 to its highest close since the war began.

1. CLOSING SNAPSHOT

S&P 500 (SPX): 6,886.24, +69.6, +1.02%
Nasdaq 100 (NDX): ~23,184, approx. +1.2%
Dow Jones (DJIA): 48,218.25, +301.68, +0.63%
Russell 2000 (RUT): 2,670.49, +1.5%
VIX (CBOE Volatility Index, “fear gauge”): 19.15, -0.42% — fear easing
10-Year Treasury Yield: ~4.30%, -2 bps (basis points, 0.01%)
WTI Crude: spiked to ~$105 intraday, settled near $100, +5–9%
Brent Crude: ~$103–$105
Gold: $4,717.89/oz, -0.71%
DXY (U.S. Dollar Index): 98.40, -0.26%

Risk-on despite the oil shock. Software caught a bid after Goldman turned constructive; GS’s own beat reinforced financials. Signals conflicted — yields eased, dollar softened, oil spiked — but equities chose software.

2. SECTOR SCORECARD

Ranking reflects best read of session; exact SPDR moves not isolated.

Information Technology (XLK): strongly higher — ORCL +11.8%, NOW, CRM +5%+
Communication Services (XLC): higher — software/AI halo
Financials (XLF): higher — GS beat, KKR +7%
Consumer Discretionary (XLY): modestly higher
Energy (XLE): higher — WTI spike on Hormuz
Materials (XLB): modestly higher
Industrials (XLI): near flat — FAST drag
Health Care (XLV): flat
Real Estate (XLRE): flat
Consumer Staples (XLP): modestly lower — TGT, CAG weak
Utilities (XLU): lower — PCG, EIX, SRE red

Growth and cyclicals led defensives — risk-on despite geopolitics.

3. TODAY’S TOP MOVERS

Gainers:

ORCL (Oracle): +11.8% — software rally after Goldman’s constructive call.
SNDK (SanDisk): +10.6% — memory/storage strength on AI-infra demand.
FICO (Fair Isaac): +9.3% — analytics caught the software bid.

Losers:

FAST (Fastenal): -6.6% — Q1 EPS met, but gross margin fell 50 bps (basis points).
PCG (PG&E): -5.2% — utility weakness on wildfire-season concerns.
EIX (Edison International): -4.8% — same utility/regulatory theme.

4. AFTER-HOURS EARNINGS

No marquee S&P 500 names reported after today’s close. Goldman Sachs (GS) reported pre-market with a beat ($17.55 EPS vs. $16.47; revenue $17.23B, +14% YoY), setting a constructive tone for this week.

5. TODAY’S EVENTS RECAP

No tier-one U.S. data today. Focus sat with earnings and geopolitics — a reported U.S. blockade of the Strait of Hormuz, after Iran talks collapsed, drove the oil spike. Equities looked through it; oil did not.

6. TOMORROW’S SETUP & CATALYSTS

8:30 AM ET — PPI (Producer Price Index, March): wholesale price read.
Before open: JPMorgan (JPM) ~$5.41 EPS / $48.2B; Wells Fargo (WFC) $1.58 / $21.79B; Citigroup (C) $2.63 / $23.6B. IB fees and credit provisions are the watch-items.
With SPX at multi-week highs, the bar for banks is higher.

7. THE TAKEAWAY

Markets chose software leadership and a clean Goldman print over Iran headlines — constructive, but contingent on oil holding. Watch the 10-year yield (above ~4.35% pressures Utilities (XLU) and Real Estate (XLRE)) and WTI below $105 (a sustained push higher re-tests Tech (XLK) leadership).

8. ADDITIONAL READING (LINKS)

Disclaimer: This newsletter is for educational and informational purposes only and does not constitute investment advice, a recommendation, or a solicitation to buy or sell any securities. The author is not a registered investment advisor, broker-dealer, or financial planner. All analysis represents the author’s interpretation of publicly available data and may contain errors. Past performance does not guarantee future results. Markets involve substantial risk, including the possible loss of principal. Always do your own research and consult with a qualified financial professional before making any investment decisions.