Pre-Market Brief | Tuesday, April 28, 2026
Where Futures Sit
S&P 500 futures are off about 0.1 percent. Dow futures are slightly green. Nasdaq 100 futures are roughly flat. Both the S&P 500 and Nasdaq closed at fresh records on Monday. VIX is creeping higher.
Macro Pulse
The Bank of Japan kicks off the central bank gauntlet today. The Fed begins its two-day meeting with a decision Wednesday at 2 PM ET. Consumer Confidence drops at 10 AM ET. Brent is holding above $100, WTI near $96. The White House is reportedly skeptical of Iran's weekend Hormuz proposal because it sidesteps the nuclear question. Through last Friday, 28 percent of the S&P 500 has reported and 84 percent have beaten earnings estimates per FactSet.
Tickers To Watch
GM: Up premarket. Beat Q1 expectations and lifted full-year guidance.
NUE: Up nearly 4 percent after topping Q1 estimates. Industrial demand read.
ORCL: Down roughly 5 percent on concerns over the changing OpenAI partnership terms.
ITW: Down 9 percent on cautious analyst commentary ahead of Thursday's print.
KO, V, SBUX, UPS, GM, MDLZ: All report today. Broad consumer and payments tape.
MSFT: Slipped Monday after losing exclusive access to OpenAI's model lineup. Reports Wednesday.
XLE: Energy stays bid while Hormuz stays contested.
Bottom Line
The market is pricing perfection one day before the Fed and 24 hours before four Mag 7 prints. The S&P RSI is near 70. The semis RSI is above 80. Last week only 188 S&P names rose, down from 406 in early April. Narrowing breadth at record highs is a yellow flag, not a green light. Sit on your hands until the Fed speaks tomorrow.
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