4 charts that explain the market's wild ride — and what investors can learn

Joe Ciolli Mon, April 20, 2026 at 1:38 PM UTC

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The stock and oil markets have been in rare form lately as the Iran war has whipsawed investors.

Last week saw stocks finish at record highs and oil tumble, but there are fresh doubts about a peace deal.

The four charts below explain what's been happening and what investors should know going forward.

Last week was one for the ages in markets.

Stocks closed at record highs, not just erasing Iran-war losses, but blowing past them with ease. WTI crude, meanwhile, tumbled more than 10% for a second straight week.

After a period this chaotic and superlative-filled, it's sometimes easier to translate observations into visual form. Charts recap what's happened, and also send signals for what's to come.

Here are four charts that correspond to four major forward-looking takeaways from a particularly wild week in markets:

Chart #1: Nasdaq Composite's longest daily winning streak since 1992

The takeaway:

The 13-day winning streak in the Nasdaq Composite is indicative of a historically unstoppable rally — one that's lifted every major US index back to record highs. The fact that tech has led the gains shows investors were ready to jump back into growth names, particularly those linked to AI.

The rally had already started in earnest before the Strait of Hormuz reopening (that's now in jeopardy) pushed it over the top. If that hurdle can be cleared, investors can focus on earnings season and what it signals about market-wide profit growth.

Chart #2: Energy stocks lose wartime gains

The takeaway:

Energy stocks — which initially got a huge boost throughout the month of March, after the Iran war started — have been basically a perfect inverse of the broader market. These companies ride or die with the price of oil, and crude has tanked as US-Iran peace talks have progressed.

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But despite the recent sell-off, oil prices remain roughly 25% above pre-war levels. There's also no guarantee the relief will last, given the historic nature of the market disruption. Any move higher in crude would lift these same downtrodden energy stocks.

Chart #3: Software stocks are still well off highs

The takeaway:

Returns off recent lows for software stocks have been encouraging. The sector needed a boost after it was the target of a series of AI-tool disruptions.

But the fact that the group is still so far off highs shows investors haven't forgotten prior worries. The AI trade is back in full force, and that's bad news for the industries previously deemed most vulnerable.

Chart #4: The dollar is sliding back near multi-year lows

The takeaway:

Now that rate cuts are being discussed once again — with the inflationary overhang of higher oil prices shelved for the time being — the greenback is on the move lower, back towards multi-year lows.

A weak dollar can be good or bad, depending on who you are. If you're a multinational company that does a lot of exporting, it's great for your bottom line. But if you're an everyday civilian visiting a foreign country, your currency doesn't go as far.

It's a perfect encapsulation of the two-sided nature of Iran-war market moves.

on Business Insider

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Source: “AOL Money”