Week Ending April 3, 2026
Mag 7’s Drag on the S&P 500
So far in 2026, the Magnificent 7 haven’t been magnificent — they’ve been a headwind. This week’s chart breaks down each stock’s individual contribution to the S&P 500’s year-to-date point change, isolating the Mag 7 from the remaining 493 names to show exactly where the damage (or support) is coming from.
The takeaway is a familiar one with a new twist: concentration cuts both ways. The same handful of stocks that powered the index higher in recent years now has the potential to drag it lower when sentiment shifts. When a few names carry an outsized weight in the index, investors don’t just get amplified upside — they get amplified downside too.
Carlyle Group Reportedly Pitching Defense Fund
Trump Tells Allies to Fight for Fuel or Buy From USA
What Issues Should I Consider When Creating My Estate Plan?
Estate planning is a topic that is commonly ignored. After all, who likes to plan for what happens after they die? Many clients have no estate plan in place, and they often don’t know where to start. That’s where we step in.
With our guidance, clients will have a better idea of what questions to ask when creating their estate plan, as well as clarification on what will happen to their assets after they are gone.
This checklist covers the key issues to consider when a client is developing their estate plan, such as:
- Identifying the appropriate estate planning documents needed for their situation.
- Considering ways for their assets to avoid probate.
- Developing an equitable estate plan that is fair to all heirs involved.
- Understanding how specific accounts or assets may be affected after death.
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SOURCE: fpPathfinder
Equities
- S&P 500 gained 3%+ in a holiday-shortened week, snapping a streak of weekly losses; mid-, small-caps, and developed international markets matched that pace
- Emerging markets lagged, up less than 1%
- Growth stocks rebounded but remain nearly 12% behind value year-to-date
- Communication Services led all sectors; energy was the lone decliner despite higher oil prices
- S&P 500 projected to deliver 13.2% earnings growth in Q1 2026 — potentially its sixth straight quarter of double-digit gains — with 54% of companies issuing positive EPS guidance, above five- and ten-year averages
Bonds
- Bond prices rose broadly; 10-year Treasury yield fell to 4.35%, 2-year dipped 4 bps to 3.84%, narrowing the 2–10 spread to just over 50 bps
- High-yield was the standout as credit spreads tightened on risk-on sentiment
- Investment-grade and high-yield yields continued to climb to 5.28% and 7.82%, respectively
Macro
- Retail sales rose 0.6% MoM; nonfarm payrolls added 178,000 in March
- Cracks forming beneath the surface — job openings and wage growth softening, services PMI slipped into contraction
- Inflation pressures reaccelerating on rising input costs and geopolitical-driven energy prices
(as of Monday’s Market Opening)
| Total Return (1D) | Total Return (1W) | Total Return (MTD) | Total Return (QTD) | Total Return (YTD) | |
| S&P 500 | 0.55% | 4.15% | 1.20% | 1.20% | -3.49% |
| Dow Jones Industrial Average | 0.43% | 3.13% | 0.63% | 0.63% | -2.98% |
| NASDAQ | 0.35% | 5.58% | 1.69% | 1.69% | -5.54% |
| NASDAQ 100 | 0.72% | 5.21% | 1.72% | 1.72% | -4.36% |
| Russell 1000 | 0.24% | 1.90% | 1.16% | 1.16% | -3.18% |
| Russell 2000 | 0.28% | 1.84% | 1.61% | 1.61% | 2.55% |
| Russell 3000 | 0.25% | 1.84% | 1.09% | 1.09% | -2.94% |
| ACWI | 0.35% | 2.60% | 1.13% | 1.13% | -1.10% |
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Disclosures
- Wealth Mechanics™ is a registered trademark of Cestia Wealth Management. Unauthorized use of the trademark, including but not limited to commercial use, reproduction, or imitation without explicit written permission from Cestia Wealth Management, is strictly prohibited.
- Market commentary provided by NewEdge Advisors
- Charts concerning market data are provided by Exhibit A.
- Guides and other downloadable firm material respective to financial planning processes and data are provided and powered by fpPathfinder.
- Advisory services offered through NewEdge Advisors, LLC, a registered investment adviser. Securities offered through NewEdge Securities, LLC. Member FINRA/SIPC. NewEdge Advisors, LLC and NewEdge Securities, LLC are wholly owned subsidiaries of NewEdge Capital Group, LLC.
- Cestia Wealth Management is not a legal tax professional. We offer tax gap analysis for clients who desire to have a comprehensive financial plan, which requires in-depth tax strategy and planning as a distinct part of the overall customized solution. Please consult your tax professional on all matters addressed in this report.
- Information about annuities are not to be considered a recommendation. The information provided should not considered a recommendation to purchase or sell any particular security.
- Investing involves risk, including the potential loss of principal. No investment strategy can guarantee a profit or protect against loss in periods of declining values. Past performance is no guarantee of future results. Please note that individual situations can vary. Therefore, the information presented here should only be relied upon when coordinated with individual professional advice.
