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

7horns.ai Daily Briefing EN · Apr 28, 2026 · 3m

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…