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Weekly Market Note
Week of April 20–24, 2026
This week’s round-up of economic releases and market insights.
In summary
- March Retail Sales rose +1.7% M/M, beating the +1.6% consensus; the Core reading rose +0.7% vs. +0.2% expected. No signs of a material consumer slowdown despite higher gas.
- February Business Inventories were up +0.4% M/M, slightly above forecasts; the income-to-sales ratio is declining, indicating a faster pace of sales.
- March Pending Home Sales rose +1.5% M/M, beating forecasts as the index hit 73.7, the highest since mid-2025.
- Flash PMIs were more positive than negative, and the Kansas City Fed manufacturing index was solid — signaling continued expansion in manufacturing.
- Michigan Consumer Sentiment saw a small upward revision but remains at a record low, while inflation expectations stayed elevated.