Traders work on the floor of the New York Stock Exchange (NYSE) on April 27, 2026 in New York City, USA.
Brendan McDiarmid | Reuters
of S&P500 The stock fell on Tuesday, weighed down by reports pointing to OpenAI’s weakness and rising oil prices.
The broader market index fell 0.49% to end at 7,138.80. Nasdaq Composite It fell 0.9% to end at 24,663.80. of Dow Jones Industrial Average It fell 25.86 points (0.05%) to settle at 49,141.93. The decline in the blue-chip index was capped by a nearly 4% rise in stock prices. coca cola After the company reported better-than-expected earnings.
According to a report in the Wall Street Journal, OpenAI recently fell short of its own targets for revenue and new user growth. The report added that CFO Sarah Fryer told leaders she was concerned that if OpenAI’s revenue doesn’t grow fast enough, the company may not be able to pay for its computing contracts in the future.
Semiconductor stocks fell on the news. VanEck Semiconductor ETF (SMH) It will slide about 3%. Nvidia Although it decreased by more than 1%, broadcom It returned more than 4%. advanced micro device It fell more than 3%, but oracle It decreased by about 4%.
Stephen Collano, chief investment officer at Integrated Partners, said most of the Magnificent Seven companies are “just taking profits out of caution ahead of tomorrow’s earnings report.”
Major earnings reports are scheduled for the stock market this week, with five of the “Magnificent Seven” tech giants scheduled to report. alphabet, Amazon, meta platform and microsoft It’s scheduled for Wednesday, apple’s The results will be decided on Thursday.
Tuesday’s move comes after the S&P 500 and Nasdaq hit record highs on Monday. However, market gains were capped as peace talks between the US and Iran appeared to stall.
President Donald Trump over the weekend canceled plans to send U.S. envoys Steve Witkoff and Jared Kushner to Pakistan to discuss a ceasefire with Iran. The president said in a post on Truth Social that negotiations could take place over the phone. Iranian Foreign Ministry spokesman Esmail Bakaei said there are no talks scheduled between Tehran and Washington at this time.
In a bit of brighter news, White House press secretary Caroline Leavitt confirmed Monday that President Trump and his national security team have discussed Iran’s proposal to reopen the Strait of Hormuz once the war ends and the U.S. lifts the blockade.
Indeed, oil prices rose again on Tuesday. West Texas Intermediate Futures It soared more than 3% and settled at $99.93 per barrel. brent futures It rose 2.8% to close at $111.26 per barrel.
