Week of 20 April - 24 April 2026 |  US equities hit new highs

In this edition of Amundi's Weekly Market Directions: 

• The S&P 500 hit an all-time high this week, with the longest-ever advance in semiconductors.  

• The S&P 500 companies reporting first-quarter results have beaten estimates so far, providing a fundamental backstop to the market. 
 
• The Tech and AI theme is gaining traction in the US, while strategic autonomy supports Europe and demand for natural resources favours Latin America. 
 

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Monica Defend

Monica Defend

Head of Amundi Investment Institute

Markets are shifting from expectations of a quick resolution to a renewed crisis escalation, with the Strait of Hormuz still disrupted and inflation and growth risks in focus. In this environment, we favour long-term convictions, exploring areas with strong earnings and fundamentals.

Monica Defend, Head of Amundi Investment Institute

Read the full weekly market directions

*Diversification does not guarantee a profit or protect against a loss. 

Unless otherwise stated, all information contained in this document is from Amundi Asset Management S.A.S. and is as of 24 April 2026. Diversification does not guarantee a profit or protect against a loss. The views expressed regarding market and economic trends are those of the author and not necessarily Amundi Asset Management S.A.S. and are subject to change at any time based on market and other conditions, and there can be no assurance that countries, markets or sectors will perform as expected. These views should not be relied upon as investment advice, a security recommendation, or as an indication of trading for any Amundi product. This material does not constitute an offer or solicitation to buy or sell any security, fund units or services. Investment involves risks, including market, political, liquidity and currency risks. Past performance is not a guarantee or indicative of future results.
 

Date of first use: 24 April 2026

Doc ID: 5405831