Investopedia Markets News (all except PF)

• An index measuring consumer confidence ticked up in April but remained low enough to warn of a recession risk.
• The Conference Board's index improved slightly when a ceasefire in the Iran war raised stock prices.
• Measures of consumer confidence have signaled pessimism, raising concerns among economists about household spending in the coming months.

The mood of consumers grew a little less dismal in April as the ceasefire in the Iran war raised hopes the conflict's economic disruptions would subside.

That's according to the Consumer Confidence Index, which edged up slightly to 92.8 from 92.2 in March, reaching its highest level since December, the Conference Board, an economic research think tank, said Tuesday. That was higher than forecasters' expectations, who called for the index to fall to 89.

The survey was conducted April 1–22, capturing the ceasefire announcement earlier in the month and the subsequent surge in stock prices. Still, the index remained low by historic standards, with a sub-index measuring future expectations below 80, a level that usually signals a recession on the horizon.

The index is based on a survey of 3,000 U.S. adults, who answer questions about their expectations for inflation, their own spending plans, and their assessment of the job market and other aspects of the economy and their own finances.

Economists view consumer confidence measures as a significant, although imperfect, indicator of how willing and able people are to spend money. It's an important consideration for the trajectory of the economy, since consumer spending accounts for most economic growth as measured by the Gross Domestic Product.

Consumer confidence measures have been flashing warning signs that people are in a pessimistic mood, and the uptick in April did little to change that trend. Economists cited surging gas prices as a result of the Iran war's disruption to oil supplies as a major factor behind the discontent.

Consumers don't necessarily cut back on spending when confidence is low, but economists are keeping an eye on the continued foul mood of the public and whether it will lead to reduced spending.

"People are clearly still worried about the war in Iran and high gas prices —and how long those high prices will stick around," Heather Long, chief economist at Navy Federal Credit Union, wrote in a commentary. "The Conference Board keeps pointing out that Americans over 35 are growing more pessimistic and their index shows especially strong declines for Gen X and Baby Boomers. This is important to monitor as Baby Boomers are now spending their wealth and how they feel will be critical for the economy.”

The increase in the index was driven by improvement in consumers' assessments of how easy it was to get a job, a downtick in inflation expectations, and an increase in the percentage of people who thought stocks would be higher in a year.

The Conference Board's survey painted a different picture of consumer attitudes than the other major survey measuring consumer optimism, the University of Michigan's index of consumer sentiment, which fell to its lowest level in the 70-year history of the poll in April. The two surveys ask different questions and are calculated differently, leading to them emphasizing different aspects of people's attitudes toward the economy.

"The design of the UofM survey makes it much more sensitive to changes in inflation than the Conference Board’s survey, which is more closely tied to developments in the labor market," Richard de Chazal, macro analyst at William Blair Equity Research, wrote in a commentary. "Hence, the divergence clearly shows exactly what is bothering consumers at the moment."

• Meta Platforms is set to release quarterly results Wednesday afternoon, and the stock is expected to make a big move following the report.
• Revenue and profits are estimated to have risen from the year-ago period, according to analysts.
• Meta and other tech giants reporting this week are likely to face renewed questions about the return on investment for their AI spending push.

Meta Platforms (META) is scheduled to report earnings after the market closes today, and traders anticipate a big move from the social media giant's stock following the results.

Recent options pricing suggests that shares of the Facebook and Instagram parent could swing as much as 6.5% by the end of the week. A move of that size from Tuesday's close could send the shares as high as $715, approaching the peak of the rally that followed the previous earnings report in January. The low end of that range would put shares around $628.

Meta shares are up slightly since the start of the year, climbing back into positive territory in recent weeks alongside a broader tech rally. Meta shares have also been lifted by new deals and product announcements including its latest AI model, bouncing back from the losses they suffered after a California jury found Meta and Alphabet's (GOOGL) YouTube liable for creating products with features designed to addict children.

Meta, along with the other big tech firms reporting earnings this week, will likely face renewed questions about their massive AI spending plans as investors and analysts have started looking for proof that the hundreds of billions will generate returns.

Oppenheimer analysts recently wrote that Meta is likely to report strong revenue growth, but said that the company faces limited profit upside as higher compute costs for Meta's AI models could offset the revenue gains and Meta's recent cost-cutting layoffs.

Analysts estimate that Meta's first-quarter revenue grew more than 30% year-over-year to $55.55 billion, while earnings per share are expected to come in at $6.68, up about 4% from the same time a year ago.

Analysts remain overwhelmingly bullish on Meta stock. All 20 analysts with current ratings tracked by Visible Alpha call the social media giant a "buy." Those analysts have an average price target of $865, implying nearly 30% from Tuesday's close and well above last August's record close of $790.

This article has been updated since it was first published to reflect more recent prices and analyst estimates.

• The Federal Reserve is expected to keep interest rates steady amid economic uncertainty and inflation risks.
• Analysts are watching for signals on whether the Fed may shift its stance on future rate cuts or hikes.
• Fed Chair Jerome Powell’s upcoming leadership transition adds uncertainty to the central bank’s future direction.

The Federal Reserve has an easy decision when it meets this week—do nothing—but anything beyond this week’s meeting is up for debate.

The central bank is grappling with the still-unclear effects of the Iran war, whose energy price shock threatens to rekindle inflation. Just as hazy is whether the economy will falter if consumers start spending less, or whether growth will stay on track.

The uncertainty comes at a time of transition for the central bank. Fed Chair Jerome Powell, who’s led the Fed since 2018, is set to hand over the reins to former Fed Governor Kevin Warsh soon.

With little clarity on what’s ahead and the U.S. economy still solid, the Fed can be patient and keep rates steady, analysts say. 

“The real economy continues to expand, stocks remain near record levels, and sticky pockets of inflation persist,” wrote Ian Lyngen, head of U.S. rates strategy at BMO Capital Markets. “It’s the ideal backdrop for the FOMC to keep policy rates unchanged until there is greater clarity.”

Uncertainty around inflation and global conflict could delay rate cuts, affecting borrowing costs and investment decisions for consumers and markets.

Markets anticipate the Fed will keep the federal funds rate at its target range of 3.5% to 3.75% for months. US-Iran peace talks stalled over the weekend, sending oil prices sharply higher Monday as some saw rising risks of prolonged energy disruptions.

Markets will look to Powell’s 2:30 p.m. ET press conference on Wednesday for hints on how the Fed may react to the risks ahead.

In recent days, Fed officials have expressed concern about inflation, noting that it never fully returned to the Fed’s 2% target after prices spiked in 2021 and 2022. Analysts viewed their inflation concerns as slightly hawkish, potentially making some Fed officials more hesitant about the rate cuts they’d penciled in for 2026 before the war began.

It’s a tone that Powell may adopt in his press conference.

“We expect Chair Powell to sound somewhat hawkish,” wrote Marc Giannoni, Barclays’ chief U.S. economist.  “We expect him to signal that the FOMC is in a holding pattern, which leaves it well positioned to address risks on both sides of the Fed's dual mandate.”

Traders see a 77% chance the Fed will stay on hold all year, according to the CME Group’s FedWatch tool, which uses futures markets pricing to determine Fed probabilities. The tool shows a 23% probability of at least one rate cut, suggesting some optimism that the Fed can resume the cutting cycle of 2024 and 2025.

But the risk of delayed Fed cuts is rising, analysts say. 

“Our baseline still assumes the Fed cuts rates twice this year, but it’s becoming more likely those cuts are shifted into the future,” wrote Nancy Vanden Houten, lead U.S. economist at Oxford Economics.

Markets see a rate hike as extremely unlikely, but some analysts caution that the risk persists the longer the war drags on.

“We see a growing tail risk that policymakers could consider hiking as soon as June if the Strait of Hormuz stays closed and U.S. labor data remains resilient,” James Egelhof, chief U.S. economist at BNP Paribas.

Analysts will also look for clues in the Federal Open Market Committee’s decision, which will come out at 2 p.m. ET.

One question is whether the FOMC will offer guidance that its next move may be either a cut or a hike—a big shift from its current bias of lowering rates again.

Right now, the FOMC statement says it would consider “additional adjustments” to interest rates, an indication to markets that follow-up cuts remain more likely. But analysts see a possibility that the FOMC statement will drop the word “additional,” suggesting that rates can go in either direction.

That wouldn’t be a signal that rate hikes are likely—far from it. Instead, the change would signal the FOMC “has a more balanced view about its next rate move,” Giannoni said, sending a subtle but significant message that cuts are no longer the baseline.

Analysts also note the Fed may hold off on sending any clear messages for now.

“Officials might not want to make a revision to the statement that needs to be reversed in relatively short order,” wrote Matthew Luzzetti, chief U.S. economist at Deutsche Bank. “As such, we see June as better placed for such a change, when officials should have more clarity.”

Reporters will also be sure to ask Powell about the upcoming leadership transition, given Powell’s term as Fed chair ends in mid-May. 

Warsh’s nomination now appears to be on track, after the Department of Justice dropped a criminal investigation over the cost overruns in Fed’s headquarters renovations. The investigation had drawn concern from a key Republican on the Senate Banking Committee, who argued it was politically motivated given President Donald Trump’s criticisms of the Fed.

But with the investigation now dropped, the committee has scheduled a vote on Warsh’s nomination for Wednesday. A vote from the full Senate will follow in the coming weeks.

“The votes will be close, but Warsh will almost surely be confirmed,” wrote Ian Katz, a policy analyst at Capital Alpha Partners.

For Powell, a major question is whether he’ll stay at the Fed past mid-May, since his term as a Fed board member doesn’t expire until 2028. Powell hasn’t shared his plans after mid-May, though he’s said he has “no intention of leaving the Board until the investigation is well and truly over.”

If he stays on the Fed’s board, that would give Trump one less opening for a Fed appointment. 

The DOJ investigation “can recommence just as quickly as it has stopped,” wrote Samuel Tombs, chief U.S. economist at Pantheon Macroeconomics, a factor that could weigh on Powell.

“Absent a definitive end to the saga, Mr. Powell might conclude that it is his duty to remain on the FOMC until his term as Governor expires in January 2028,” Tombs said.

• Oracle, CoreWeave, and several other firms with ties to OpenAI saw shares slide following a report the startup has fallen short of revenue and user growth targets.
• Some executives at OpenAI have raised concerns about whether the startup will be able to go public this year and grow revenue fast enough to pay for its data center commitments, according to The Wall Street Journal.

Fresh worries about OpenAI's finances have the recent AI rally grinding to a halt.

Shares of OpenAI partners Oracle (ORCL), CoreWeave (CRWV), Nvidia (NVDA), Advanced Micro Devices (AMD), and other AI-related stocks were down between 3% to 6% recently, with tech sector leading declines in the S&P 500 following a The Wall Street Journal report that OpenAI has fallen short of key revenue and user growth targets in recent months.

The ChatGPT maker still hasn't reached its goal of 1 billion weekly active users, a target it had hoped to hit by the end of last year. The company has also missed multiple monthly revenue growth targets as well as its 2025 goal, the Journal reported.

OpenAI did not respond to an Investopedia request for comment in time for publication.

Though OpenAI isn't publicly traded yet, the report could raise fresh concerns about its ability to go public, as well as other companies' AI spending and exposure to the startup.

The report said some executives, including CFO Sarah Friar, have questioned whether OpenAI's plan to go public this year is achievable, as well as its ability to grow revenue fast enough to fulfill the hundreds of billions of dollars in agreements it has signed for computing capacity from data centers.

Wedbush analysts said following the report that they see concerns about OpenAI's finances as overblown, suggesting going public could provide OpenAI with enough capital to meet its spending commitments.

OpenAI has taken steps to cut costs in recent months, such as shutting down its Sora video generation app, as it shifts focus on higher-growth industries like enterprise and coding, areas where AI rivals like Anthropic have taken market share from OpenAI, per the Journal.

News of the day for April 28, 2026

Stock futures are mostly lower Tuesday amid a flurry of earnings reports, while oil prices rise as investors await updates on potential peace talks with Iran; the Federal Reserve is scheduled to kick off its two-day policy meeting; a number of big-name companies, including Coca-Cola, General Motors, Starbucks and Visa are releasing quarterly results today; and tech stocks are under pressure following a report that OpenAI has missed several internal revenue and user growth targets. Here's what you need to know today.

Stock futures are mixed this morning as investors digest quarterly results from several major companies this morning and await a barrage of earnings reports in the coming days, while keeping close tabs on developments in the Middle East. Futures tied to the S&P 500 and tech-heavy Nasdaq were recently down 0.6% and 1.2%, respectively, while Dow Jones Industrial Average futures added 0.2%. The S&P 500 and Nasdaq inched higher on Monday to close at record highs. Crude oil futures were up more than 5% this morning as the Strait of Hormuz remains closed (more on that below), while gold futures slid 2.5% to $4,575 an ounce. Bitcoin was trading at $76,200, down from Monday's high of $79,500. The yield on the 10-year Treasury note, which affects interest rates on consumer loans, was at 4.37%, up from 4.34% yesterday and at its highest level in a month.

Oil futures are sharply higher amid ongoing uncertainty about the status of the Iran war. West Texas Intermediate futures, the U.S. crude oil benchmark, were recently up 5.6% at $101.80 per barrel, trading above $100 for the first time in three weeks. Last week, President Trump said the U.S.-Iran ceasefire would be extended until Iran could make its next proposal. Peace talks that investors had hoped would take place over the weekend were scrapped. Reports emerged Monday that Iran had pitched a deal including the reopening of the Strait of Hormuz, while pushing back talks over its nuclear program. The White House doesn't appear to be interested in such a deal, as dismantling Iran's nuclear program has been one of the several goals the administration has offered for the war, per The Associated Press.

The Federal Reserve is scheduled to kick off its two-day meeting on interest rates today, in what could be Fed chair Jerome Powell's last time heading the policy committee. Powell could remain a member of the board of governors once his term expires next month and he is replaced as chair. Kevin Warsh, Trump's nominee to replace Powell, is currently going through the confirmation process in the Senate. The Fed's goals of keeping inflation under control and promoting employment are being threatened by the economic fallout from the Iran war. Soaring fuel prices have sparked inflation, and the price pressures could lead to a slowdown in hiring. While the Fed is expected to hold its key rate steady this week, Powell could provide insights into potential rate decisions that will take place later this year. The announcement of the decision on rates and a press conference with Powell are scheduled for Wednesday afternoon.

A number of major companies are releasing quarterly results today as investors brace for earnings reports from tech giants in the coming days that could set the tone for the stock market. Among the household names reporting this morning were Coca-Cola (KO), General Motors (GM), Spotify (SPOT), United Parcel Service (UPS), Hilton (HLT), Corning (GLW), Sherwin-Williams (SHW) and Kimberly-Clark (KMB). This afternoon, results are due out from Visa (V), T-Mobile (TMUS), Starbucks (SBUX), Robinhood (HOOD), Mondelez (MDLZ) and Caesars Entertainment (CZR), with the results providing insights into the health of the American consumer. The tech earnings show starts tomorrow, with results from Microsoft (MSFT), Meta Platforms (META), Alphabet (GOOGL) and Amazon (AMZN) all coming out after the closing bell.

A number of tech stocks are losing ground ahead of the opening bell following a report last night from The Wall Street Journal that said OpenAI has missed a number of revenue and user growth benchmarks. The report also said some executives have questioned OpenAI's timeline of looking to go public sometime this year, as well as its ability to grow revenue fast enough to fulfill the hundreds of billions in agreements it has signed for computing capacity from data centers. The news is weighing on several OpenAI partners including Oracle (ORCL) and CoreWeave (CRWV), which were each down about 7% premarket, along with Advanced Micro Devices (AMD) and Nvidia (NVDA), down 6% and 3%, respectively. Shares of Microsoft, OpenAI's largest investor, were down 1%.

• Shares of Intel have recovered from their slump to set new highs, as stronger-than-expected results and a string of deals boosted optimism about a turnaround.
• Many Wall Street analysts aren't sold, however, amid worries that the stock's recent run-up has outpaced improvement in the company's fundamentals.

Intel’s stock has clawed back from the brink to new highs. But can the stock continue to rise? Some Wall Street experts aren’t convinced. 

Shares of Intel (INTC), which added another 3% to finish at a fresh closing high Monday after topping a 26–year-old record Friday, have been on tear lately. Investor optimism about the chipmaker's turnaround efforts has been boosted by a string of high-profile deals and better-than-expected earnings on the back of strong AI demand.

With its recent gains, the stock has more than doubled in value this year so far, and quadrupled over the past 12 months. But that torrid run has some on Wall Street worried its financials aren’t keeping up with the stock.

Though Intel's recent wins have many investors cheering its progress, some Wall Street analysts are telling clients they still see better opportunities elsewhere, amid concerns that some of the optimism could be premature.

Analysts at D.A. Davidson led by Gil Luria said that Intel’s valuation is looking “stretched” after the stock's big gains, and that they'd rather hold shares of rival Advanced Micro Devices (AMD), which they expect to see "meaningful" upside from the same AI-driven tailwinds. D.A. Davidson upgraded AMD shares to a "buy" rating, while keeping a "neutral" rating for Intel after its latest results.

AMD, which is set to report results next Tuesday, could still eat at Intel's market share and gain ground with new server models in the second half, Jefferies analysts wrote. Like D.A. Davidson, Jefferies has a "buy" rating for AMD while staying "neutral" on Intel. "We need to see more traction at larger customers to be optimistic," Jefferies wrote.

Citi analysts, who upgraded their rating for Intel to “buy” after the chipmaker's latest results, said they believe Intel's deal to join Elon Musk's terafab "lends credence to Intel building a successful foundry business," and that the chipmaker could be set to win some large new customers in the second half of the year.

The stock remains a divisive one on Wall Street. Of the eight analysts with current ratings tracked by Visible Alpha, only three recommend buying it, compared to four neutral ratings, and one "sell." With its recent gains, Intel shares are already about 13% higher than analysts' mean target of around $75.

• Nvidia shares climbed to new highs Monday, amid a broader rally in AI-related stocks ahead of earnings from some of America's biggest tech companies.
• Comments about AI-related gains and spending by Alphabet, Amazon, Meta and Microsoft—all buyers of Nvidia's chips—could threaten or add fuel to the tech stock's recent momentum.

Nvidia's recent rally could face a major test this week.

Shares of Nvidia (NVDA) climbed to new records Monday, amid a broader revival of the AI trade ahead of earnings from some of America's biggest tech companies. The shares finished the day 4% higher after hitting their first all-time high since October. The stock has added nearly a third of its value over the past four weeks.

Earnings this week from some of Nvidia's major Big Tech clients—including Amazon (AMZN), Meta (META), Microsoft (MSFT) and Google parent Alphabet (GOOGL)—could add fuel to the chipmaker's recent wins, or bring its momentum to a halt.

Signs of surging AI demand and growing spending by America's tech heavyweights could add to recent enthusiasm for Nvidia after the stock recovered from a slump earlier this year.

The outlook is bright, according to analysts at Wedbush led by Dan Ives. Wedbush expects a "strong week ahead of earnings from Big Tech as investors focus on AI monetization trends, cap ex levels, and the overall tone of business from Mag 7 tech stalwarts." (Nvidia isn't due to report its latest results until May 20. )

Growing AI spending commitments from the Magnificent 7 heavyweights could bolster the case for investing in Nvidia. Analysts at JPMorgan, who listed Nvidia among their top AI and cloud picks in a note to clients Monday, said they "expect AI-related demand to drive a multi-year runway of growth for NVDA’s datacenter GPU business,” which could lead to more gains for the chipmaker's stock.

Wall Street analysts are widely bullish on Nvidia. Twelve of the 13 analysts with current ratings tracked by Visible Alpha recommend buying the shares. Their mean target, around $268, would suggest 24% upside from Monday's closing level.

With their recent gains, Nvidia shares are up 16% so far in 2026 and have nearly doubled in value over the last 12 months.

Episode 292 of The Investopedia Express podcast with Caleb Silver (Apr. 27, 2026)

Subscribe Now: Apple Podcasts / Spotify / PlayerFM

With Tim Cook stepping down from Apple this fall, the future of one of the world’s most valuable companies and brands falls to John Ternus, who must prove that the company’s AI future is bright and profitable. Gene Munster of Deepwater Asset Management drops in with a blueprint for Apple and puts the AI build-out for big tech in perspective. Plus, it’s put up or shut up time for mega-cap tech earnings, and investors couldn’t be more bullish. And also: why tomato prices are smashing records, and what else is absurdly expensive right now. 

• Robinhood is scheduled to release its quarterly results Tuesday after markets close, and the stock is expected to make a big move following the report.
• The online trading platform operator is expected to report that revenue and profits grew in the first quarter compared to a year earlier, according to analysts.

Robinhood (HOOD) is scheduled to report first-quarter results after the closing bell on Tuesday, and traders are pricing a big move in the share price by the end of the week.

Shares of the online trading platform operator are seen moving as much as 9% in either direction in the days following the results, according to recent options pricing. Base on Monday's closing level, that could lift the stock to roughly $91, or see it drop to about $76.

Robinhood shares have lost a quarter of their value since the start of the year. The recent tech rally has helped the stock recover some of the ground it lost earlier this year, amid a rough stretch for cryptocurrency markets broadly, along with disappointing fourth-quarter revenue growth reported in early February.

Robinhood's latest earnings will give investors a new look at how Robinhood's efforts to become the financial "everything app" is progressing, including its recent launch of a closed-end fund of private firms.

Morgan Stanley analysts recently cut their price targets for a number of brokers, including Robinhood's target to $95 from $147. The analysts said they see upside for Robinhood in the long term as it continues to diversify its product offerings, but said slow revenue and asset growth could weigh on the stock in the near-term.

Robinhood is expected to report first-quarter revenue of $1.13 billion, up about 22% year-over-year, along with earnings per share of 40 cents, up 3 cents.

Analysts are largely bullish on Robinhood stock, with eight of the ten analysts with current ratings tracked by Visible Alpha calling the broker a "buy," along with one "neutral" and one "sell" rating. The stock has an average price target of $105, which is 25% higher than current levels.

Off the Charts: The Visual Says It All

• Fed Chair Jerome Powell had the lowest unemployment rate during his tenure than any previous Fed chair since 1978, but the third-highest average inflation.
• Powell may be asked to reflect on his time in office on Wednesday, when he is scheduled to give his final press conference after the FOMC policy decision.
• Janet Yellen was the most successful of the last six Fed chairs at keeping both inflation and unemployment low.

As chair of the Federal Reserve since 2018, Jerome Powell was supposed to keep inflation low and employment high. So, how did he do?

Powell is on track to have the lowest average unemployment rate and the third-highest average inflation among the six Fed chairs who have run the central bank since 1977. That was when Congress first directed the Fed to keep the economy running at "maximum employment" and ensure "price stability."

Inflation, as measured by Personal Consumption Expenditures, averaged 3% during Powell's tenure, above the Fed's 2% annual target and above the inflation rate when Janet Yellen, Ben Bernanke, and Alan Greenspan were in charge.

Here's how he stacks up against his predecessors:

Powell's term will end on May 15, when he will likely be replaced by Kevin Warsh, whom President Donald Trump nominated for the job. Powell was first appointed by Trump in 2018, succeeding Janet Yellen.

Each Fed chair had to steer the central bank through the economic challenges of the time. Powell's biggest hurdle was the onset of the COVID-19 pandemic and all the fallout that ensued.

The pandemic turned monetary policy upside down. Before 2020, central bankers were mainly worried that inflation was too low and were engineering ways to push it up to the Fed's 2% annual target. After the pandemic snarled supply chains and the government gave Americans trillions of dollars in stimulus money, inflation spiked and the Fed raised its benchmark interest rate in an effort to wrestle it down.

Jerome Powell leaves a lasting mark on the Fed, having led it through a time of economic and political upheaval. His approach to monetary policy kept unemployment lower than any other Fed chair, although he was not able to get inflation down to the Fed's goal of a 2% annual rate.

Powell's attempts to bring the economy into a "soft landing" from pandemic-induced inflation have been complicated in his final year. Tariffs kept inflation stubbornly above 2% and the war with Iran amplified inflation concerns by pushing up energy prices.

Unemployment followed a similar pattern, surging during the pandemic but tumbling to 50-year lows in the years that followed. The unemployment rate edged up in 2025 amid a hiring slowdown driven by uncertainty among business leaders about trade policy, but remained relatively low by historic standards at 4.3% as of March.

The economic data covering Powell's final few months in office has yet to arrive, but is unlikely to change the average much. Powell's final press conference as Fed chair is expected to take place on Wednesday, and he may take the opportunity to reflect on his eight years at the helm.

"He may be asked questions that look back on his entire term as Fed Chair," John Ryding, chief economist at Brean Capital, wrote in a commentary. "Judged by the inflation numbers, his record is not that great... Chair Powell had the best record on the labor-market leg of the dual mandate but by far the [worst] on price stability."