April closed with strong bullish momentum across global markets, especially in the U.S., where the NASDAQ surged nearly 16% and semiconductors exploded higher. Canadian markets lagged slightly, led by financials and banks, while gold stocks struggled. Commodities pulled back slightly in the pre-market, but oil remains above $100 and uranium has returned to a buy signal.
Despite geopolitical tensions and rising energy prices, markets continue focusing on big tech and AI momentum. The outlook for May remains cautiously optimistic, but traders are advised not to chase Friday breakouts and instead consider partial positions and wait for confirmation signals next week.
Stephen Whiteside
Friday, May 1, 2026
