Investment Daily: US stocks were mixed ahead of heavyweight earnings and Fed meeting

28 April 2026

US stocks were mixed and little changed on Monday as investors awaited mega-cap earnings and policy decisions by major central banks, including the Federal Reserve, due later this week. The S&P 500 ended relatively flat (+0.1%).

US Treasuries declined (yields rose) following higher oil prices and a soft 5-year Treasury debt auction result. 10-year yields climbed 4bp to 4.34%. 

European stocks started the week lower amid ongoing geopolitical tensions in the Middle East. The Euro Stoxx 50 lost 0.4%. The German DAX and the French CAC both fell 0.2%. In the UK, the FTSE 100 closed down 0.6%.

European government bonds fell (yields rose). 10-year German bund yields rose 4bp to 3.03% and 10-year French bond yields gained 5bp to 3.69%. In the UK, 10-year gilt yield rose 6bp to 4.97%.

Asian stock markets traded mixed but mostly higher on Monday, with regional tech shares leading gains as investors monitored geopolitical developments and a busy earnings week. Japan’s Nikkei 225 and Korea’s Kospi rallied 1.4% and 2.2%, respectively. China’s Shanghai Composite advanced 0.2%, while Hong Kong’s Hang Seng closed down 0.2%. Elsewhere, India’s Sensex rose 0.8%.

Crude oil prices rose on Monday. WTI for June delivery settled 2.1% higher at USD96.4 a barrel.

There were no major releases. 

In the US, the Conference Board Consumer Confidence Index is likely to decrease to 89.0 in April, from 91.8, as higher oil prices are likely to weigh on consumer sentiment. The "hard to get" jobs category should be closely monitored.

Increased uncertainty suggests the Bank of Japan will keep policy unchanged at 0.75%, although BoJ governor Ueda may sound hawkish.

India’s industrial production March data may start to gradually reflect the impact of the energy supply shock stemming from the Middle East conflict.