How Fed's steady rates and oil rally drove mixed tech earnings and POET's plunge — Market Wrap Apr 28, 2026

Today's AI insights from 7horns.ai reveal a mixed US market backdrop as the Federal Reserve holds interest rates steady between 3.5% and 3.75%, while oil prices rally sharply, with the USO ETF up 3.4% in pre-market trading. The S&P 500 and Nasdaq edged higher by 0.12% and 0.20% respectively, despite the Dow Jones slipping 0.13%. Sector-wise, technology earnings weigh on sentiment: POET Technologies plunged 47.35% yesterday and continued to fall 2.64% pre-market after canceled purchase orders linked to Marvell's acquisition of Celestial AI. ARM Holdings also suffered, dropping 8.06% yesterday and 5.97% further pre-market. Conversely, Apple showed modest pre-market recovery, rising 0.54%, while Nvidia pulled back 1.62% after a 4% rally. Asian markets were mixed overnight, with Japan's Nikkei down 1.0% but pre-market strength in the EWJ proxy, while China and Hong Kong indices softened. European markets traded modestly higher. Gold weakened, down 1.63%. Overall, the interplay of Fed policy, oil rallies, and tech earnings set a cautious tone ahead. AI insights powered by 7horns.ai — the world's first true AI research financial assistant. Our CNN machine learning model delivers daily stock market analysis with over 60% accuracy, beating the S&P 500 by 300% from 2021–2025. No human emotions, just pure AI-driven financial research. Visit 7horns.ai for your free daily AI insights.