Fisher Investments Reviews: Last Week in Markets—April 6 - April 10

Global equities rose. On April 7, President Trump announced a ceasefire with Iran. Crucially: Markets didn’t wait for an all-clear signal—markets started improving the week before the ceasefire announcement. Additionally, whether or not the ceasefire holds, we believe the economic and political factors supporting corporate earnings over the next 3 – 30 months remain intact and we still expect a good year for stocks. For more information, see our 04/08/2026 commentary, “How Investors Should Think About the Ceasefire.”

In the US, the third estimate of Q4 2025 GDP showed 0.5% annualized growth, revised down from the previous 0.7% annualized estimate. March consumer inflation accelerated to 0.9% m/m and 3.3% y/y. Notably, March core inflation (which omits the often-volatile energy and food components) came in lower than expected at 2.6% y/y. For more, please see our 04/10/2026 article, “The Missing Perspective on March’s US Inflation 'Surge'.”

In the UK, the final March S&P Global Services Purchasing Managers’ Index (PMI) was 50.5, lower than expected. Readings above 50 indicate expansion. In the eurozone, the final March S&P Global Services PMI was 50.2, higher than forecast. February retail sales fell 0.2% m/m and rose 1.7% y/y.

In Japan, March bank loans increased 4.8% y/y, exceeding expectations. In China, March consumer prices fell 0.7% m/m but rose 1.0% y/y.

The Week Ahead

The US, UK, eurozone, Japan and China release industrial production data. The US and UK report manufacturing numbers. The UK reports February GDP while China posts Q1 2026 GDP figures. Japan and China release retail sales. The eurozone reports final March inflation data while China announces March trade information.

Source for all data cited is FactSet. This update constitutes the general views of Fisher Investments and should not be regarded as personalized investment advice. No assurances are made we will continue to hold these views, which may change at any time based on new information, analysis or reconsideration. In addition, no assurances are made regarding the accuracy of any forecast made herein. Global equities are represented by the MSCI World Index. The MSCI World Index measures the performance of selected stocks in 23 developed countries and is presented net of dividend withholding taxes and uses the maximum rate applicable to non-resident institutional investors who do not benefit from double taxation treaties. Past performance is no guarantee of future results. A risk of loss is involved with investments in stock markets.