Live Nasdaq Composite: Big Tech Earnings, Fed Meeting Tee Up as Oil Prices Climb

By Gerelyn Terzo Updated Apr 27, 1:28PM EDT · Published Apr 27, 9:57AM EDT

Quick Read

Qualcomm (QCOM) and Nvidia (NVDA) lead AI momentum as Qualcomm surges 5% on an OpenAI chip development deal targeting 2028 mass production, while Nvidia recrosses the $5 trillion market cap mark with shares above $200. The Nasdaq Composite dipped 0.18% as investors weigh AI partnership optimism against earnings pressure from Microsoft, Alphabet, Amazon, Meta, and Apple reporting this week.
Big Tech earnings reports from the Magnificent Seven this week will determine whether AI spending translates to actual returns for investors, while energy markets remain volatile after Washington withdrew its Iran envoy team, pushing WTI crude to $91 and Brent briefly above $108.

Live Updates

Oil Prices Soaring

Apr 27, 2026 at 1:28 PM EDT

WTI crude is up 2.8% to $97.07/barrel.

Brent Crude is gaining 3.7% to almost $110 per barrel.

The Nasdaq Composite is managing to eke out fractional gains.

Micron Bull

Apr 27, 2026 at 11:34 AM EDT

Micron (Nasdaq: MU) stock is soaring by 5% on a bullish Wall Street note. Melius Research analysts have kicked off coverage of Micron stock with a “buy” rating attached. Semiconductor stocks have been on a tear, including Micron, whose share price has ballooned by 62.6% over the past month or so.

OpenAI and MSFT Tie-Up Revamp

Apr 27, 2026 at 9:57 AM EDT

OpenAI has restructured its relationship with Microsoft, retaining the tech giant as its primary cloud provider while gaining the flexibility to distribute products and services across competing cloud platforms. The revised arrangement extends model and product commitments to Microsoft through 2032, with a revenue-sharing component running through 2030. Microsoft stock is down 0.74% on the development.

This article will be updated throughout the day, so check back often for more daily updates.

The Nasdaq Composite opened Monday slightly in the red, dipping 0.18% despite holding near all-time highs. The prior week’s surge had lifted the index’s year-to-date advance to 6.7%, but traders are stepping back as several heavyweight forces converge , a wave of AI partnership news, the year’s most pivotal stretch for big-tech earnings, and a flaring oil shock as one step forward, two steps back Iran talks continue.

Qualcomm (Nasdaq: QCOM) tops the AI activity, reportedly striking a chip development agreement with OpenAI. The project brings in Taiwan’s MediaTek on the engineering side, with China’s Luxshare responsible for co-design and production. TF International Securities analyst Ming-Chi Kuo puts mass manufacturing on track for 2028. Qualcomm shares are jumping 5% on the development. Nvidia has also grabbed attention, recrossing the $5 trillion market cap mark as its stock climbs back above the $200 threshold.

Here’s a look at where things stand as of morning trading:

Dow Jones Industrial Average: 49,291 Up 0.12%
Nasdaq Composite: 24,701 Down 0.47%
S&P 500: 7,156 Down 0.10%

Market Movers

Hyperscaler infrastructure investment is forecast to hit $650 billion industrywide this year, with the PHLX Semiconductor Index recently completing an 18-session run of gains.

The earnings slate this week is the one portfolio managers have been circling for months. Microsoft (Nasdaq; MSFT), Alphabet (Nasdaq: GOOGL), Amazon (Nasdaq: AMZN) and Meta Platforms (Nasdaq: META) report Wednesday, with Apple (Nasdaq: AAPL) following Thursday, five Magnificent Seven constituents back to back. Investors want proof that AI spending is generating real returns in relation to the massive AI capex spending spree.

Oil is the wild card. WTI surged 6% to $91 a barrel and Brent briefly breached $108 after Washington withdrew its Iran envoy team. Goldman Sachs revised its late-2026 Brent target up to $90. The fact that equities are holding near records through all of it points to AI optimism carrying more weight than energy anxiety, at least for now.

The Fed decision and Jerome Powell’s commentary round out a week that could meaningfully shift the market’s summer outlook.

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About the Author Gerelyn Terzo →

Gerelyn Terzo is the author of dividend investing handbook "Dividend Investing Strategies: How to Have Your Cake & Eat It Too." A veteran financial journalist, she covers agri-finance for outlets like Global AgInvesting and the broader stock market and personal finance for 24/7 Wall Street. She began at CNBC and later helped launch Fox Business in New York. Gerelyn currently resides in Woodland Park, Colorado and dabbles in nature photography as a hobby.