By @proactive_x
Publication Date: 2026-04-28 08:08:00
US stocks looked set for an uneven start on Tuesday, as oil prices surged and the Federal Reserve began its two-day policy meeting.
Futures for the Nasdaq and S&P were down 1.3% and 0.7%, while Dow Jones futures were up 0.2%.
This would more than reverse the modest gains made on Wall Street the previous session, when the S&P and Nasdaq inched up 0.1% and 0.2% to fresh record closing highs, thanks to strength from Nvidia and other big tech, while the Dow Jones dropped 0.1%.
Oil prices during European trading on Tuesday hit a two-week high, with WTI crude up 3.2% to $99.50 a barrel.
Analysts said this reflected the ongoing closure of the Strait of Hormuz and the impasse between the US and Iran.
President Trump and his national security team were reported to be reviewing the proposal put forward by Iran to reopen the Strait and bring the war to an end.
“Right now, the market is not optimistic about the chance of a deal to reopen the Strait due to Iran’s request to push discussions about nuclear disarmament into the future,” said market analyst Kathleen Brooks at XTB.
“However, this is a news driven market and the oil price will be sensitive to geopolitical headlines this week.”
Tech stocks are also in focus today, she added, after a record run for semiconductor names and historic highs on Wall Street.
OpenAI CFO Sarah Friar, according to the WSJ article, told other executives that “she is worried the company might not be able to pay for future computing…
