Stock Market Today: April 16, 2026 — Records Extend on TSMC, Crude Surge
S&P 500 and Nasdaq closed at fresh records on April 16, 2026 as TSMC's blowout AI-chip quarter and a 3.7% pop in WTI crude lifted tech and energy, even as the 10-year Treasury yield climbed to 4.311% on hot Philly Fed and softer jobless claims.
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Stock Market Today: Records Stretch as Chips and Crude Lead
The Nasdaq booked its 12th straight green session — its longest streak since 2009 — and the S&P 500 logged a second consecutive record close, with TSMC's blowout AI-chip quarter and a sharp pop in oil running the tape.
| Index | Close | Net Change | % Change |
|---|---|---|---|
| S&P 500 | 7,041.28 | +18.14 | +0.26% |
| Nasdaq Composite | 24,102.70 | +86.69 | +0.36% |
| Dow Jones Industrial Average | 48,578.72 | +114.82 | +0.24% |
| Russell 2000 | 2,719 | +5.95 | +0.22% |
Breadth was narrow but constructive: semis and energy did the heavy lifting while financials and healthcare leaked.
Cross-Asset Snapshot: Yields Climb, Crude Pops, Gold Slips
The 10-year Treasury yield jumped more than three basis points to 4.311% as traders absorbed a stronger-than-expected Philadelphia Fed print and another round of public pressure from President Trump on Fed Chair Jerome Powell.
The dollar index (DXY) rose 0.2% to 98.28. WTI crude surged +3.72% to $94.69/bbl and Brent jumped +4.7% to $99.39/bbl, extending the energy bid tied to the ongoing Iran conflict. Gold (June futures) slipped -0.32% to $4,808.30/oz as real yields ticked higher.
Sector Scorecard: Tech and Energy on Top
| Sector ETF | Sector | % Change |
|---|---|---|
| XLE | Energy | +1.5% |
| XLK | Technology | +0.8% |
| XLF | Financials | -0.2% |
| XLV | Health Care | -0.6% |
Energy led on the crude move; technology rode the TSMC read-through to AI semis. Financials dipped despite earnings beats from custody banks; health care lagged on weakness in medical equipment names.
Top 5 Single-Stock Movers
TSM — Taiwan Semiconductor. Q1 profit rose 58% YoY with revenue of $35.9B (NT$1,134.10B) and EPS of NT$22.08. Advanced nodes were ~75% of wafer revenue. The company guided full-year 2026 revenue growth of 30%+ in USD and lifted 2026 capex to $52–56B (vs. $40.5B in 2025). Q2 revenue guide: $39–40.2B, +10% sequentially. The print pulled the SOX higher and was the single biggest tape driver.
LLY — Eli Lilly. Released ACHIEVE-4, the longest Phase 3 readout for Foundayo (orforglipron), the GLP-1 pill. Cardiovascular event risk was 16% lower versus insulin glargine (HR 0.84, met non-inferiority); all-cause death risk was 57% lower. A1c and weight-loss benefits sustained through 104 weeks. Lilly said it will file for a diabetes label by end of Q2 using a national priority review voucher.
ABT — Abbott Laboratories. Q1 sales +7.8% YoY to $11.16B, beating consensus by ~$160M. Adjusted EPS $1.15 (+6%). First quarter incorporating the Exact Sciences acquisition, which closed March 23. Q2 EPS guide: $1.25–$1.31.
SCHW — Charles Schwab. Q1 EPS $1.43 vs. $1.39 consensus. Net new assets and trading revenue trends remained the focal points; rate-sensitive deposit dynamics still in play.
BK — Bank of New York Mellon. Q1 EPS $2.25 vs. $1.93 consensus — a clean beat on fee income and net interest revenue, helped by elevated custody balances and FX activity. Trucker JBHT also cleared with EPS $1.49 vs. $1.44.
Macro and Policy: Claims Drop, Philly Fed Blows Out
Initial jobless claims for the week ended April 11 fell 11,000 to 207,000, below consensus and consistent with a labor market that is decidedly not cracking. The Philadelphia Fed manufacturing index ripped to 26.7 vs. 10.0 expected, the day's biggest macro surprise and a key reason the long end of the curve sold off. March industrial production was the one soft spot at -0.5% m/m.
Internationally, China Q1 GDP printed 5.0% YoY, in line.
The political layer: President Trump again threatened Fed Chair Powell, telling reporters Powell should step aside when his chair term ends May 15 (his governor term has two years left). Markets shrugged at the rhetoric but the front end of the curve remained pinned to the central-bank-independence question.
Earnings Highlights
- TSM: 4th straight record-profit quarter; AI demand and advanced-node mix the entire story. Capex bump signals confidence in 2026–27 leading-edge demand.
- ABT: Beat on revenue, in-line-to-slight-beat on EPS, raised guide to reflect Exact Sciences. Diagnostics line now meaningfully larger.
- NFLX reported after the close — Q1 revenue grew 16% YoY per the shareholder letter; reaction to play out in Friday's session.
On Deck: Friday's Calendar
Economic data (April 17): March housing starts and building permits at 8:30 a.m. ET — the key read on residential construction with mortgage rates hovering near recent ranges.
Earnings on tap: Friday's slate is light, with NFLX the overnight read-through and AXP among the names traders are positioning into next week's heavier docket.
What to watch: Whether the Nasdaq's 12-session streak survives a Netflix EPS miss ($0.70 vs. $0.76 expected, reported post-close), whether crude can hold the $94 handle, and whether the 10-year holds above 4.30% as Trump–Powell headline risk lingers.
Sources:
- CNBC — S&P 500 first close above 7,100, Nasdaq longest streak since 1992 (Apr 16, 2026)
- Investrade — Market Review: April 16, 2026
- CNBC — TSMC Q1 profit +58% on AI chip demand
- CNBC — Treasury yields rise as Trump targets Powell (Apr 16, 2026)
- Eli Lilly — ACHIEVE-4 results announcement
- PR Newswire — Abbott Reports First-Quarter 2026 Results
- Netflix — Q1 2026 Shareholder Letter
- Energy Stock Channel — Tech and Energy Lead Thursday (Apr 16, 2026)