U.S. markets enter Monday, April 13, 2026 with the backdrop set by the Friday, April 10 close. Friday was not quiet. Inflation came in hotter than expected. Markets reacted right away. Stocks pulled back. Yields moved higher. Oil stayed elevated. The dollar firmed.
The S&P 500 closed near 6,720.
The Dow closed near 47,400.
The Nasdaq closed near 22,300.
The Russell 2000 held near 2,580.
The tone changed. This was not a pause. This was pressure.
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Equity Markets
Stocks moved lower. The S&P 500 fell about -0.8% to -1.0%. The Dow dropped around -0.7% to -0.9%. The Nasdaq led lower, down about -1.0% to -1.3%. Small caps also slipped. The move was broad. This was not one sector. It was the whole market reacting. The key idea is simple. Stocks do not like rising inflation.
Fixed Income
Yields jumped higher. The 10-year Treasury yield moved up to around 4.35%–4.40%. The 2-year yield rose to about 3.90%–3.95%. This was a clear move. Higher yields mean tighter conditions. That puts pressure on stocks. No relief came from bonds. That matters.
Currency Markets
The dollar moved up. The U.S. Dollar Index pushed back toward 99.5–100.2. This is important. A stronger dollar adds pressure globally. It also tightens financial conditions. The dollar is back near key levels.
Commodities
Oil stayed strong. WTI crude held near $100–$103. Brent crude stayed near $101–$104. No pullback. That keeps cost pressure in place. Gold moved slightly higher. Gold traded near $2,350–$2,400. That shows some defensive interest. But not a full shift. Oil is still the main signal.
Macro Backdrop
Friday was all about CPI. CPI (March) rose about 0.4% month over month. Headline CPI held near 3.1% year over year. Core CPI stayed near 3.3% year over year. This is the problem. Inflation is not falling fast enough. That changes expectations. It pushes rate cuts further out. The market adjusted fast.
Entering Today's Open
Key reference levels:
S&P 500: ~6,720
Dow Jones: ~47,400
Nasdaq: ~22,300
Russell 2000: ~2,580
10-Year Yield: ~4.35%–4.40%
2-Year Yield: ~3.90%–3.95%
U.S. Dollar Index: ~99.5–100.2
WTI Crude: ~$100–$103
Brent Crude: ~$101–$104
Gold: ~$2,350–$2,400
CPI (March): ~0.4% m/m
Headline CPI: ~3.1% y/y
Core CPI: ~3.3% y/y
Markets enter Monday with a new tone. Stocks pulled back. Yields moved higher. Inflation stayed firm. The setup is clear. Rates are back in control.
