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- Iran Tensions Take Center Stage as Markets Head Into FOMC
Iran Tensions Take Center Stage as Markets Head Into FOMC
Tom White
April 28, 2026
U.S. stock futures are slightly lower in premarket trading after the S&P 500 and Nasdaq-100 posted new record highs on Monday. Oil prices are sharply higher near $100 a barrel, which is weighing on stocks.
The White House confirmed on Monday that Trump and his national security team have discussed Iran’s offer to reopen the Strait of Hormuz if the war ends and the U.S. lifts its blockade. Earnings will be in focus for the rest of the week with results due from 5 of the Mag 7 reporting on Wednesday and Thursday. The FOMC meeting begins today with Fed Chair Powell’s final press conference tomorrow after the announcement on rates.
Snapshot (as of 7 AM ET)
Oil (/CL) – Oil prices are up over 3% near $100 a barrel as investors parsed fresh signals from U.S.-Iran negotiations, with uncertainty over the potential for de-escalation keeping markets on edge. U.S. President Donald Trump and his national security team discussed a proposal from Tehran to reopen the Strait of Hormuz, conditional on Washington lifting its blockade and ending hostilities, White House press secretary Karoline Leavitt confirmed.
Gold (/GC) – Gold futures are down over 2% near $4595 as a stronger U.S. Dollar and a rise in yields has put pressure on the precious metal.
Bitcoin (/BTC) – The Crypto Future is down 1% near 76,420 in premarket trading.
VIX – The CBOE Volatility Index was down 3.7% on Monday and settled at 18.02 as stocks were mixed.
U.S. Dollar (/DX): The greenback is up 0.21% at about 98.71.
Biggest Premarket Movers (as of 7 AM ET)
Symbol | Product | Mark % Change (Winners) |
|---|---|---|
KO | THE COCA-COLA CO | +3.39% |
CNC | CENTENE CORP DEL | +2.87% |
UHS | UNIVERSAL HEALTH | +2.50% |
PFE | PFIZER INC | +1.90% |
APA | APA CORP | +1.74% |
Symbol | Product | Mark % Change (Losers) |
|---|---|---|
GLW | CORNING INC | -9.98% |
ORCL | ORACLE CORP | -6.45% |
AMD | ADVANCED MICRO | -5.27% |
COHR | COHERENT CORP | -5.14% |
UPS | UNITED PARCEL SERVICE | -4.38% |
Economic Data
Time | Event |
|---|---|
9:00 AM ET | FHFA House Price Index Case-Shiller Home Price Index |
10:00 AM ET | Consumer Confidence Richmond Fed Mfg. Index |
1:00 PM ET | 7-Year Note Auction |
Notable Earnings
Premarket | Postmarket | Premarket Tomorrow | Postmarket Tomorrow |
|---|---|---|---|
AB, AMT, AIT, AVY, BP, CNC, KO, GLW, ECL, GM, GLXY, HRI, HLT, INCY, JBLU, KMB, NVS, PCAR, PNR, PII, SHW, SFD, SPOT, SYY, TRU, UPS, XYL, ZBH | BE, BKNG, BXP, CZR, CSGP, ENPH, EQR, FFIV, FE, IR, MDLZ, NBR, NXPI, OI, OMC, OKE, PPG, HOOD, STX, ST, SBUX, TMUS, TER, V, WELL, WERN, WM | ABBV, AER, APH, AZN, ADP, AVTR, CAR, AVT, BLCO, BIIB, EAT, BG, CNI, CTSH, DAN, DK, ETR, ETSY, GRMN, GEHC, GNRC, GD, GSK, HUM, JKS, LII, LAD, PSN, PSX, REGN, SMG, SOFI, SWK, TEVA, TW, VIRT, VMC, WING, YUM | AFL, ALGN, ALL, GOOGL, AMZN, AWK, AR, BHC, CHRW, CWH, CP, CVNA, CAKE, CMG, EBAY, FLS, F, FTAI, GFL, KGC, KLAC, MAT, META, MGM, MSFT, ORLY, PPC, QCOM, SBAC, SFM, TDOC, TYL, WWD, WH |
Upgrades/Downgrades
HSBC upgrades IBM (IBM) to Hold from Reduce
UBS downgrades Nucor (NUE) to Neutral from Buy
Baird downgrades Rambus (RMBS) to Neutral from Outperform
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