US Stock Market Today S&P 500 Futures Edge Higher As Fed Decision Looms

The Morning Bull – US Market Morning Update Wednesday, Apr, 29 2026

US stock futures are slightly higher this morning, with E mini S&P 500 and Nasdaq 100 contracts edging up as investors wait for the Federal Reserve’s April meeting. The Fed is widely expected to keep its main interest rate unchanged, which effectively decides how expensive mortgages, credit cards and business loans feel. At the same time, the 10 year US Treasury yield is sitting near 4.35% while oil inventories fell by about 1.8 million barrels, a combination that keeps pressure on fuel and energy costs. The key question now is whether rate sensitive areas like housing, banks and growth stocks can handle higher for longer borrowing costs without choking off growth.

With rates staying higher for longer, focus on 72 resilient stocks with low risk scores while others take on unnecessary volatility.

Top Movers

Centene (CNC) jumped 13.95% after an analyst upgrade citing its margin improvement path and fresh earnings.
Revolution Medicines (RVMD) climbed 9.99% after BofA raised the Erasca related price target for its cancer therapies.
AvalonBay Communities (AVB) gained 5.29% following earnings, buyback updates and a higher price target from Barclays.

Is Centene still a smart investment or just hype? Read our most popular narrative and get all the answers you need.

Top Losers

Spotify Technology (SPOT) declined 12.43% after several banks cut price targets following its earnings release.
Corning (GLW) declined 8.90%.
Credo Technology Group Holding (CRDO) declined 8.08%.

Look past the noise – uncover the top narrative that explains what truly matters for Credo Technology Group Holding’s long-term success.

On The Radar

Earnings from mega cap tech and a packed slate of US blue chips will dominate the next three sessions.

Mega Cap Tech: Alphabet (GOOGL), Microsoft (MSFT), Meta Platforms (META), QUALCOMM (QCOM) report today, setting the tone for growth, cloud and ad spending.
Healthcare and Biotech: Biogen (BIIB), AbbVie (ABBV), Regeneron (REGN), Gilead Sciences (GILD) report today, with attention on pipelines and drug revenue concentration.
Consumer and Restaurants: Chipotle Mexican Grill (CMG), Yum! Brands (YUM), Altria Group (MO), Hershey (HSY) updates today help you gauge pricing power and cost pressures on household spending.
Industrial and Materials: Caterpillar (CAT), Parker Hannifin (PH), ConocoPhillips (COP), Exxon Mobil (XOM) results today and tomorrow give a read on energy activity and capital spending.
Financials and Insurance: Mastercard (MA), T. Rowe Price (TROW), American International Group (AIG), Berkshire Hathaway (BRK) earnings and meetings today through Saturday highlight fee income, underwriting trends and capital allocation.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.