Wade's Weekly Market Update
April 23, 2026
Good Morning,
Stocks enjoyed President Trump’s Tuesday announcement that the truce with Iran will be extended indefinitely by mounting a strong rally on Wednesday. While seemingly good news, the Strait of Hormuz remains closed and energy markets across the globe are feeling the pinch. Should gas and oil prices remain elevated for the foreseeable future, consumers, and eventually the economy, will begin to reflect the frustration that the war with Iran has initiated. The administration claims we will absorb short-term pain for the long-term gain of eliminating the possibility of a nuclear Iran. They had already told us they eliminated that possibility last summer when the US bombed Iran.
Tariffs. Remember the tariffs? The Supreme Court ruled they were unconstitutional, and as of Monday morning, businesses that paid these levies could start applying for refunds. The President is encouraging companies to not file for refunds, but many small businesses need the cash to make up for losses after absorbing the additional costs rather than passing them on to consumers. We would recommend they get their money back.
Ukraine (remember Ukraine?) will soon receive more than $100 billion in loans from the European Union. Hungary, under new leadership, lifted its veto which had been holding up the loan. In its latest bid to appeal to Trump, Ukrainian officials are exploring whether to call an area within the Donbas region that Russia is still fighting for, “Donnyland.” The idea would be to convince the US leader to rebuff Moscow’s territorial claims to this slice of land. Will it work? We know that President Trump loves to have his name on things, so…. maybe.
Please visit our website at www.canfg.com to view past updates and information about Canandaigua Financial
Group.
As always, if you would like to discuss this or anything regarding current market conditions or your portfolio,
feel free to contact me at any time.
Enjoy your weekend,
Wade
Wade A. Sarkis, CFP®, AIF®
Managing Partner
Canandaigua Financial Group
45 Ontario Street
Canandaigua, NY 14424
(585) 396-2720
Securities and Advisory Services offered through Commonwealth Financial Network, Member FINRA, SIPC, a Registered Investment Adviser
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