BroadChain News, April 28 - On April 28, the US stock market showed significant divergence. The S&P 500 closed up 0.12% at 7,173.91 points, and the Nasdaq Composite Index rose 0.20% to 24,887.10 points, both hitting record highs. However, the Dow Jones Industrial Average fell 62.92 points (-0.13%) to close at 49,167.79 points. The seesaw effect between tech stocks and industrial stocks has persisted for several days, with AI and semiconductor narratives driving heavyweight tech stocks upward, while real economy companies such as consumer goods, industrials, and restaurants were dragged down by oil prices breaking through $107 and weak consumer confidence.
In terms of individual stocks, Nvidia rose 4%, approaching $208, seen as a real-time barometer of AI investment sentiment; Alphabet gained 1.8%, Micron Technology rose 5.6%, and the semiconductor sector continued to attract capital. In contrast, Apple fell 1.3%, McDonald's dropped 3%, and Domino's Pizza plunged 10%, with its first-quarter same-store sales growing only 0.9%, far below the expected 2.7%, and it lowered its full-year 2026 outlook to low single-digit growth. Surging oil prices pushed up delivery costs, consumer wallets tightened, and pizza pricing logic faced challenges.
In the commodity market, Brent crude broke through $107 per barrel, and WTI crude rose to the $95-$97 range, with gains exceeding 13% in a week. On the surface, Iran proposed a new plan to the US via Pakistan: opening the Strait of Hormuz and halting attacks on ships in exchange for the US lifting its maritime blockade and delaying nuclear talks. However, Trump canceled the envoy's trip to Pakistan on Saturday, calling it a "waste of time," leaving diplomatic progress at a standstill. The strait remains effectively closed, with oil tankers rerouting around the Cape of Good Hope, resulting in a daily supply loss of about 5 million barrels for Asia. Additionally, Iran previously proposed charging a "transit fee" for passing ships, payable in stablecoins or Bitcoin, at about $1 per barrel. Blockchain analytics firm Chainalysis disclosed that on-chain activities related to Iran's Islamic Revolutionary Guard Corps exceeded $3 billion in 2025, primarily in stablecoins, turning the "crypto toll booth" from conspiracy theory into reality.
Gold closed on Monday in the $4,730-$4,750 range, rising slightly with oil prices but lagging behind. Market focus this week centers on April 29: Alphabet, Meta, Microsoft, and Amazon will simultaneously release first-quarter earnings reports, and the Federal Reserve will announce its interest rate decision on the same day, reportedly Powell's last meeting in his term. These four companies have all risen over 10% this month, but lessons from ServiceNow and IBM's earnings show that even if results beat expectations, disappointing forward guidance could trigger sell-offs. Wedbush analyst Dan Ives expects "good news to continue, with the AI revolution in full swing." However, on April 30, Apple and Amazon earnings, along with meetings of the Bank of Japan and the European Central Bank, will follow. Any missteps by the three major central banks or MAG7 could trigger a chain reaction, determining whether this rally ends.