Pre-market briefing Pre-Market Briefing for April 24, 2026
Today at a Glance
Market Tone
Heading into the U.S. open, futures markets are pointing to a modestly weaker start. S&P 500 futures are down 0.2%, Dow futures are off roughly 144 points (-0.3%), and Nasdaq futures are also trading slightly lower. This follows yesterday's slide in which the S&P 500 fell 0.41% and the Nasdaq dropped 0.89%, as stalled Iran / Strait of Hormuz negotiations and Brent crude breaking above $105 pressure risk assets. Asian markets were mixed — the KOSPI closed flat at 6,475.63 while the KOSDAQ surged 2.51%, and Hong Kong's Hang Seng (-0.16%) and China's CSI300 (-0.35%) edged lower, with Australia's ASX 200 finishing at -0.08%. In after-hours trading, post-earnings rebounds in $INTC (+2.3%) and $SAP (+5%) have helped limit downside in index futures.
Today's Events
Heavyweight earnings are clustered before the bell. The lineup spans multiple sectors: consumer staples giant $PG (Procter & Gamble) with a market cap of {{MARKET_CAP}}, healthcare's $HCA, energy services' $SLB (Schlumberger), railroad operator $NSC (Norfolk Southern), and media's $CHTR (Charter Communications). With the roster tilted toward defensive and infrastructure names, today's reports will help gauge whether yesterday's selling in tech and software persists or whether the rotation into defensives deepens. In particular, $PG's guidance — tied to tariff pass-through and raw-material cost questions — is expected to set the tone for the broader consumer staples sector. $SLB's outlook for oilfield-services revenue will be the key watch item against the backdrop of crude prices above $105.
Recap of Previous Session
On April 23, New York stocks closed broadly lower across all three major indexes. Renewed Strait of Hormuz tensions combined with concerns over an AI-driven slowdown in software-sector growth triggered sharp declines in large-cap SaaS names such as $CRM (-8.7%), $ORCL (-6.0%), and $IBM (-8.3%), while money rotated into defensives, industrials, and energy. On the other side, $TXN jumped 19.4% on guidance pointing to a recovery in data-center chip demand, leading the differentiation within the chip sector.
Stocks in Focus
$INTC reported Q1 results after Wednesday's close that decisively beat expectations — EPS of $0.29 versus a $0.02 consensus (roughly 14x) and revenue of $13.58 billion — and Q2 guidance also came in well above consensus, fueling an after-hours rebound. The regular-session reaction will be a key moment for confirming momentum across the chip sector. $XLE (energy-sector ETF) is likely to extend yesterday's strength (+0.78%) as long as Brent above $105 and the Iran negotiation impasse hold. $RTX has slid to oversold territory with an RSI around 27, and with defense peers $LMT, $GD, and $NOC also pulling back, an extension of the Iran ceasefire could set up a technical bounce attempt.
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