Pre-market briefing Pre-Market Briefing for April 29, 2026
Today at a Glance
Previous Day Recap
The previous session on Wall Street saw AI infrastructure demand concerns resurface after reports that OpenAI missed subscriber and revenue targets, putting the brakes on a three-day record-breaking rally. The S&P 500 closed down 0.49% at 7,138.80, and the Nasdaq fell 0.90% to 24,663.80, while only the Dow held up, essentially flat with a 0.05% gain on defensive strength. The semiconductor ETF (SOXX) plunged 3.67%, with ARM, AMAT, KLAC, and AVGO all tumbling 4–8%. Meanwhile, $KO (+3.86%), $UNH (+3.41%), and $PM (+3.10%) saw rapid fund rotation into defensives.
Market Sentiment
Today brings the two biggest catalysts of the week stacked on top of each other. The April FOMC decision is scheduled for 3:00 AM KST, followed by Chair Powell's press conference at 3:30 AM KST. Shortly after, around 5:00 AM KST, Alphabet, Microsoft, Amazon, and Meta will release earnings one after another within a span of just 80 seconds. Futures opened slightly higher in a wait-and-see mode ahead of both events. Semiconductor names, which sold off yesterday on the OpenAI report, enter the session caught between dip-buying interest and additional profit-taking pressure.
Pre-Market News Roundup
Today's Events
Today, four of the Magnificent 7 will report earnings one after another within an 80-second window around 5:00 AM KST. Check the time and market cap from the card data; the main text focuses on key points to watch for each name.
Macro Schedule
Today could be a turning point for monetary policy.
Based on the CME FedWatch tool, the probability of a rate hold (3.50–3.75%) stands at over 99%, and this meeting will not include an updated dot plot. The key focus is any change in the statement's tone. Even a single-word shift in how the balance of inflation, employment, and growth risks is framed could trigger outsized market reactions. Since this may be Chair Powell's final meeting before his term expires in May, watch for both policy consistency signals and transition signals for his successor.
A press conference will follow 30 minutes after the statement. Key points to watch include concerns over sticky inflation, the possibility of a June rate cut, and any comments on the next chair's regime.
Dividend Ex-Dates
Stocks in Focus
Today's Action Guide
Today, focus on the flow rather than fixating on the results.
Back to ListDisclaimer: This content is for informational purposes only and does not constitute investment advice. All investment responsibility lies with the investor.
Today's 5 AI picks, all free