{"id":9429,"date":"2026-04-07T11:46:01","date_gmt":"2026-04-07T09:46:01","guid":{"rendered":"https:\/\/pointcapital.ch\/stock-market-outlook-04-2026-trump-keeps-the-markets-on-tenterhooks\/"},"modified":"2026-04-07T14:03:38","modified_gmt":"2026-04-07T12:03:38","slug":"stock-market-outlook-04-2026-trump-keeps-the-markets-on-tenterhooks","status":"publish","type":"post","link":"https:\/\/pointcapital.ch\/en\/stock-market-outlook-04-2026-trump-keeps-the-markets-on-tenterhooks\/","title":{"rendered":"Stock market outlook 04\/2026: Trump keeps the markets on tenterhooks"},"content":{"rendered":"[vc_row type='in_container' full_screen_row_position='middle' column_margin='default' column_direction='default' column_direction_tablet='default' column_direction_phone='default' scene_position='center' text_color='dark' text_align='left' row_border_radius='none' row_border_radius_applies='bg' row_position_desktop='default' row_position_tablet='inherit' row_position_phone='inherit' overflow='visible' overlay_strength='0.3\u2033 gradient_direction='left_to_right' shape_divider_position='bottom' bg_image_animation='none'][vc_column column_padding='no-extra-padding' column_padding_tablet='inherit' column_padding_phone='inherit' column_padding_position='all' flex_gap_desktop='10px' column_element_direction_desktop='default' column_element_spacing='default' desktop_text_alignment='default' tablet_text_alignment='default' phone_text_alignment='default' background_color_opacity='1\u2033 background_hover_color_opacity='1\u2033 column_backdrop_filter='none' column_shadow='none' column_border_radius='none' column_link_target='_self' column_position='default' gradient_direction='left_to_right' overlay_strength='0.3\u2033 width='1\/1\u2033 tablet_width_inherit='default' animation_type='default' bg_image_animation='none' border_type='simple' column_border_width='none' column_border_style='solid'][fancy_box box_style='color_box_hover' icon_family='iconsmind' color='accent-color' color_box_hover_overlay_opacity='default' box_alignment='left' border_radius='none' image_loading='default' icon_iconsmind='iconsmind-Information']\n<h2>Briefly summarized:<\/h2>\n<hr>\n<ul>\n<li>\n<h4>Latest economic data (still) positive<\/h4>\n<\/li>\n<li>\n<h4>Market reactions to Iran conflict limited so far<\/h4>\n<\/li>\n<li>\n<h4>Markets await decision in Iran conflict<\/h4>\n<\/li>\n<\/ul>\n[\/fancy_box][vc_column_text css='' text_direction='default']<em>April 7, 2026<\/em><\/p>\n<h2>What has been the focus in recent weeks<\/h2>\n<p>In March, the financial markets were clearly dominated by geopolitical tensions in the Middle East and the associated change in expectations regarding interest rate trends in the wake of inflation concerns.<\/p>\n<p>Stronger-than-expected inflation data in the US and a robust labor market led the market to scale back its previously very optimistic interest rate cut expectations \u2013 with corresponding pressure on growth and AI (artificial intelligence) stocks on the equity side. At the same time, the reporting season remained solid: many companies surprised positively with their earnings estimates, but at the same time confirmed that margin pressure due to rising wages, higher financing costs and rising purchase prices remains an issue. <\/p>\n<blockquote><p><strong>' Geopolitics and inflation put an end to the interest rate cut fantasy in March '<\/strong><\/p><\/blockquote>\n<p>In Europe, the focus in March was on the question of whether the combination of moderate inflation, weak but stabilizing growth and an ECB (European Central Bank) with a tendency to loosen interest rates was positive for the markets. For once, the Swiss stock market did not live up to its defensive character, was virtually 'clan-locked' and gave up its initial gains for the year.[\/vc_column_text][\/vc_column][\/vc_row][vc_row type='in_container' full_screen_row_position='middle' column_margin='default' column_direction='default' column_direction_tablet='default' column_direction_phone='default' scene_position='center' text_color='dark' text_align='left' row_border_radius='none' row_border_radius_applies='bg' row_position_desktop='default' row_position_tablet='inherit' row_position_phone='inherit' overflow='visible' overlay_strength='0.3\u2033 gradient_direction='left_to_right' shape_divider_position='bottom' bg_image_animation='none'][vc_column column_padding='no-extra-padding' column_padding_tablet='inherit' column_padding_phone='inherit' column_padding_position='all' flex_gap_desktop='10px' column_element_direction_desktop='default' column_element_spacing='default' desktop_text_alignment='default' tablet_text_alignment='default' phone_text_alignment='default' background_color_opacity='1\u2033 background_hover_color_opacity='1\u2033 column_backdrop_filter='none' column_shadow='none' column_border_radius='none' column_link_target='_self' column_position='default' gradient_direction='left_to_right' overlay_strength='0.3\u2033 width='1\/1\u2033 tablet_width_inherit='default' animation_type='default' bg_image_animation='none' border_type='simple' column_border_width='none' column_border_style='solid'][vc_column_text css='' text_direction='default']\n<h2>Our investment solutions and positioning<\/h2>\n<p>Our <a href=\"https:\/\/pointcapital.ch\/en\/multi-asset-strategy-investing-in-asset-classes\/\" target=\"_blank\" rel=\"noopener\"><strong>multi-asset solutions<\/strong><\/a> have come under pressure in recent weeks, with the decline mainly affecting equity positions. Diversifying elements such as bonds or uncorrelated investments have clearly confirmed their function as stabilizing factors. Times like these show that a mix of different asset classes can make a portfolio more robust in turbulent phases.  <\/p>\n<p>In our <strong><a href=\"https:\/\/pointcapital.ch\/en\/fund-investment-solution\/\">Cross-Asset Fund Navigator<\/a><\/strong> the overweight in the energy sector in particular made a significant contribution to performance. We are therefore pleased to have closed the first quarter with a positive result despite increased volatility. We expect the volatility to continue in the second quarter and remain vigilant with regard to the resulting risks and opportunities. The past quarter has once again demonstrated the importance of active management and the ability to navigate successfully even in turbulent market phases.   <\/p>\n<p>Our equity strategy <a href=\"https:\/\/pointcapital.ch\/en\/momentum-strategy-achieving-long-term-returns\/\" target=\"_blank\" rel=\"noopener\"><strong>Global Equity Trends<\/strong><\/a> also closed the first quarter with a positive result. This is partly due to defensive elements such as high-dividend stocks and utilities, and partly to the fact that energy stocks have been a prominent part of the portfolio since the beginning of February. At the turn of the month, we also added another defensive element with shares from the real estate sector.  <\/p>\n<p>The Swiss equity market came under heavy pressure in March, which also affected our equity strategy <a href=\"https:\/\/pointcapital.ch\/en\/quality-shares-the-best-choice-for-your-investment\/\" target=\"_blank\" rel=\"noopener\"><strong>Swiss Equity Selection<\/strong><\/a> could not escape. Index heavyweights such as Roche and Novartis were among the clear losers. On the other hand, smaller companies such as Galderma and Accelleron Industries held up very well. Both were able to convince investors with the presentation of their company results.   <\/p>\n<p>Our international equity strategy <a href=\"https:\/\/pointcapital.ch\/en\/quality-shares-the-best-choice-for-your-investment\/\" target=\"_blank\" rel=\"noopener\"><strong>Global Equity Selection<\/strong><\/a> was also unable to escape the general downward pressure. Nevertheless, there were companies such as Amazon, E.ON and Booking Holdings that weathered the turbulence in March well. The currency side also developed positively: with an appreciation of around 4 % and around 1.5 % respectively, both the US dollar and the euro made a positive contribution.[\/vc_column_text][\/vc_column][\/vc_row][vc_row type='in_container' full_screen_row_position='middle' column_margin='default' column_direction='default' column_direction_tablet='default' column_direction_phone='default' scene_position='center' text_color='dark' text_align='left' row_border_radius='none' row_border_radius_applies='bg' row_position_desktop='default' row_position_tablet='inherit' row_position_phone='inherit' overflow='visible' overlay_strength='0.3\u2033 gradient_direction='left_to_right' shape_divider_position='bottom' bg_image_animation='none'][vc_column column_padding='no-extra-padding' column_padding_tablet='inherit' column_padding_phone='inherit' column_padding_position='all' flex_gap_desktop='10px' column_element_direction_desktop='default' column_element_spacing='default' desktop_text_alignment='default' tablet_text_alignment='default' phone_text_alignment='default' background_color_opacity='1\u2033 background_hover_color_opacity='1\u2033 column_backdrop_filter='none' column_shadow='none' column_border_radius='none' column_link_target='_self' column_position='default' gradient_direction='left_to_right' overlay_strength='0.3\u2033 width='1\/1\u2033 tablet_width_inherit='default' animation_type='default' bg_image_animation='none' border_type='simple' column_border_width='none' column_border_style='solid'][vc_column_text css='' text_direction='default']\n<h2>What next? And what needs to be considered? <\/h2>\n<p>The focus remains clearly on the development of the conflict in the Middle East. Every statement made by Trump has the potential to move the markets sharply. We continue to assume that Trump has an interest in de-escalation \u2013 but this does not rule out the possibility that the situation could escalate further in the short term. Against this backdrop, it is important to keep a steady hand and focus on long-term investment goals.   <\/p>\n<p>A focus on quality investments and a certain minimum degree of diversification \u2013 on the equity side, for example, taking into account a regional balance between the USA, Europe and Switzerland as well as diversification across various sectors \u2013 appears to make sense.<\/p>\n<blockquote><p><strong>' A volatile environment requires discipline \u2013 those who stay invested will be rewarded '<\/strong><\/p><\/blockquote>\n<p>Caution is advised with market timing approaches. If, for example, there is a short-term de-escalation of the Iran conflict, the markets could recover sharply \u2013 as was the case during the Covid recovery in 2020 or after the 'tariff hammer' last year. Experience has shown that markets have usually recovered relatively quickly after comparable geopolitical crises in the past.  <\/p>\n<p>Meanwhile, the three most important drivers for the development of the US economy in 2026 remain intact: Investment in AI, investment in local industries and fiscal and infrastructure stimulus through the 'One Big Beautiful Bill' program. We are monitoring the current situation very closely and will of course reassess the situation in the event of a further or prolonged escalation in the Middle East.[\/vc_column_text][vc_column_text css='' text_direction='default']<em>Point Capital Group<br \/>\n7. April 2026<\/em>[\/vc_column_text][nectar_circle_images images='621,620\u2033 positioning='standard' alignment_desktop='left' alignment_tablet='inherit' alignment_phone='inherit' animation='none' image_size='large' image_loading='default'][vc_column_text css='' text_direction='default']Our experts: <a href=\"https:\/\/pointcapital.ch\/en\/team\/\">Jules Kappeler<\/a> (CEO) & <a href=\"https:\/\/pointcapital.ch\/en\/team\/\">Christian Sutter<\/a> (Portfolio Manager)[\/vc_column_text][\/vc_column][vc_column column_padding='no-extra-padding' column_padding_tablet='inherit' column_padding_phone='inherit' column_padding_position='all' flex_gap_desktop='10px' column_element_direction_desktop='default' column_element_spacing='default' desktop_text_alignment='default' tablet_text_alignment='default' phone_text_alignment='default' background_color_opacity='1\u2033 background_hover_color_opacity='1\u2033 column_backdrop_filter='none' column_shadow='none' column_border_radius='none' column_link_target='_self' column_position='default' gradient_direction='left_to_right' overlay_strength='0.3\u2033 width='1\/1\u2033 tablet_width_inherit='default' animation_type='default' bg_image_animation='none' border_type='simple' column_border_width='none' column_border_style='solid'][\/vc_column][\/vc_row][vc_row type='in_container' full_screen_row_position='middle' column_margin='default' column_direction='default' column_direction_tablet='default' column_direction_phone='default' bg_color='rgba(63,75,111,0.2)' scene_position='center' text_color='dark' text_align='left' row_border_radius='none' row_border_radius_applies='bg' row_position_desktop='default' row_position_tablet='inherit' row_position_phone='inherit' overflow='visible' class='border-box' overlay_strength='0.3\u2033 gradient_direction='left_to_right' shape_divider_position='bottom' bg_image_animation='none' shape_type=''][vc_column column_padding='no-extra-padding' column_padding_tablet='inherit' column_padding_phone='inherit' column_padding_position='all' flex_gap_desktop='10px' column_element_direction_desktop='default' column_element_spacing='default' desktop_text_alignment='default' tablet_text_alignment='default' phone_text_alignment='default' background_color_opacity='1\u2033 background_hover_color_opacity='1\u2033 column_backdrop_filter='none' column_shadow='none' column_border_radius='none' column_link_target='_self' column_position='default' gradient_direction='left_to_right' overlay_strength='0.3\u2033 width='1\/1\u2033 tablet_width_inherit='default' animation_type='default' bg_image_animation='none' border_type='simple' column_border_width='none' column_border_style='solid']<div class=\"vc_row-fluid box-element-row newsletter-box\" style=\"text-align:left\"><div class=\"box-body\"><div class=\"box-body-inner-wrapper\"><div class=\"box-body-inner\"><p class=\"box-sub-title\">Newsletter<\/p><h3 class=\"box-title\">Gut informiert: Aktuelles zur Verm\u00f6gensanlage<\/h3><div class=\"box-content\">Mit uns sind Sie stets gut informiert! Wir liefern Ihnen News und wichtige Infos rund um das Thema Verm\u00f6gensanlage.<\/div><\/div><a style=\"background-color:#3f4b6f;color:#ffffff\" class=\"open-newsletter-form custom-box-btn \" href=\"#\"  ><img decoding=\"async\" src=\"https:\/\/pointcapital.ch\/wp-content\/themes\/salient-child\/img\/arrow-btn.svg\" \/>Newsletter abonnieren<\/a><\/div><div class=\"box-image\"><img decoding=\"async\" src=\"https:\/\/pointcapital.ch\/wp-content\/uploads\/2021\/03\/PCG_Newsletter.svg\" width=\"100%\" alt=\"Newsletter\"><\/div><\/div><\/div>[\/vc_column][\/vc_row][vc_row type='in_container' full_screen_row_position='middle' column_margin='default' column_direction='default' column_direction_tablet='default' column_direction_phone='default' scene_position='center' text_color='dark' text_align='left' row_border_radius='none' row_border_radius_applies='bg' row_position_desktop='default' row_position_tablet='inherit' row_position_phone='inherit' overflow='visible' overlay_strength='0.3\u2033 gradient_direction='left_to_right' shape_divider_position='bottom' bg_image_animation='none'][vc_column column_padding='no-extra-padding' column_padding_tablet='inherit' column_padding_phone='inherit' column_padding_position='all' flex_gap_desktop='10px' column_element_direction_desktop='default' column_element_spacing='default' desktop_text_alignment='default' tablet_text_alignment='default' phone_text_alignment='default' background_color_opacity='1\u2033 background_hover_color_opacity='1\u2033 column_backdrop_filter='none' column_shadow='none' column_border_radius='none' column_link_target='_self' column_position='default' gradient_direction='left_to_right' overlay_strength='0.3\u2033 width='1\/1\u2033 tablet_width_inherit='default' animation_type='default' bg_image_animation='none' border_type='simple' column_border_width='none' column_border_style='solid'][\/vc_column][\/vc_row]\n","protected":false},"excerpt":{"rendered":"<p>April 7, 2026 \u2013 Find out more about developments on the financial markets: Trump keeps the markets on tenterhooks<\/p>\n","protected":false},"author":3,"featured_media":9428,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"wds_primary_category":0,"footnotes":"","_links_to":"","_links_to_target":""},"categories":[152,153],"tags":[156,160,155,157,461,154,163,162,159,158,161],"class_list":{"0":"post-9429","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-insights","8":"category-stock-market-outlook","9":"tag-asset-manager","10":"tag-financial-markets","11":"tag-inflation","12":"tag-interest","13":"tag-stock-exchange-2026","14":"tag-stock-market","15":"tag-stock-market-correction","16":"tag-stock-market-crash","17":"tag-stock-market-news","18":"tag-stock-market-outlook","19":"tag-trump"},"acf":[],"_links":{"self":[{"href":"https:\/\/pointcapital.ch\/en\/wp-json\/wp\/v2\/posts\/9429","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/pointcapital.ch\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/pointcapital.ch\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/pointcapital.ch\/en\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/pointcapital.ch\/en\/wp-json\/wp\/v2\/comments?post=9429"}],"version-history":[{"count":2,"href":"https:\/\/pointcapital.ch\/en\/wp-json\/wp\/v2\/posts\/9429\/revisions"}],"predecessor-version":[{"id":9431,"href":"https:\/\/pointcapital.ch\/en\/wp-json\/wp\/v2\/posts\/9429\/revisions\/9431"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/pointcapital.ch\/en\/wp-json\/wp\/v2\/media\/9428"}],"wp:attachment":[{"href":"https:\/\/pointcapital.ch\/en\/wp-json\/wp\/v2\/media?parent=9429"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/pointcapital.ch\/en\/wp-json\/wp\/v2\/categories?post=9429"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/pointcapital.ch\/en\/wp-json\/wp\/v2\/tags?post=9429"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}