Nasdaq Hits Record 13-Day Winning Streak Amid Semiconductor Boom and Oil Slump

The Nasdaq Composite achieved its 13th consecutive day of gains on April 17, 2026, matching its longest winning streak since January 9, 1992, according to Dow Jones Market Data.

The rally was driven by a sharp rebound in technology shares, with the Nasdaq-100 also on track for a 13-day winning streak, its longest run since 2013, as reported by GuruFocus.

Geopolitical developments contributed to market optimism, as Iran indicated it would reopen the Strait of Hormuz following a truce between Israel and Lebanon, easing concerns about oil supply disruptions that had weighed on global markets since President Trump initiated the conflict seven weeks earlier.

The S&P 500 advanced 0.8% to another record after the open on April 17, while the Nasdaq 100 added 0.7% and the Dow Jones Industrial Average climbed 1.4%, according to the same GuruFocus report.

Oil prices moved lower and bond yields fell as investors positioned for the possibility that the Federal Reserve could resume interest-rate cuts before the end of the year, the report noted.

The Nasdaq Composite was also on track for its biggest three-week percentage-point gain since April 24, 2020, according to Morningstar.

Technology’s recent struggles in the market have not diminished its status as the largest sector in the S&P 500 this year, despite its weighting rising to 34.7% from 5.5% in April 2020, according to Dow Jones Market Data cited by Morningstar.

The iShares Expanded Tech-Software Sector ETF (IGV) was up roughly 14% for the week at $84, reflecting strong investor confidence in software and semiconductor companies, as reported by Morningstar.

For tech bulls, the winning streak has coincided with a rapid comeback for longtime sector stalwarts, following a period when valuation metrics like forward price-to-earnings ratios fell to their lowest levels in years.

The Nasdaq had traded largely sideways since October as investors alternated between concerns about AI’s impact on software and professional-services companies and doubts about whether massive AI infrastructure investments would pay off, according to Morningstar.

On April 16, the Nasdaq Composite climbed 0.4% to hit a new record, while the S&P 500 rose about 0.2% to post an all-time high after pushing through the 7,000 level, according to Yahoo Finance.

The Dow Jones Industrial Average rose 0.2% on April 16 after President Trump announced that Israel and Lebanon had agreed to a temporary ceasefire, a key sticking point in US-Iran negotiations.

Initial jobless claims fell to 207,000 in the week ended April 11, according to Department of Labor data released on April 16, while industrial production slowed 0.5% in March, missing estimates of 0.1% growth.

Taiwan Semiconductor Manufacturing Company (TSM) and PepsiCo (PEP) beat expectations on both earnings per share and revenue on April 16, while Charles Schwab (SCHW) topped earnings estimates but missed on revenue.