Investors Held Out for Higher Record Highs Ahead of Mag 7 Earnings This Week

Barry Adams
27 Apr, 2026
New York City

Wall Street indexes lacked direction on Monday ahead of the Federal Reserve's rate decisions on Wednesday. 

The S&P 500 Index decreased 0.2%, and the tech-heavy Nasdaq Composite eased 0.1% amid escalating tensions in the Middle East. 

Over the weekend, Iran's Revolutionary Guard boarded two container tanks in the Strait of Hormuz, escalating tensions with the U.S. and Israel. 

Moreover, Iran confirmed that there are no talks scheduled with the U.S., indicating that hostilities are likely to prolong in the Persian Gulf. 

The disruption of energy product shipments through the Strait of Hormuz to Asia for the second consecutive month is anticipated to significantly impact global economic growth.

The sharp jump in crude oil and natural gas prices, shortage of industrial gases, and disruptions of shipments of fertilizers through the key waterway are stoking worldwide inflation and denting economic growth prospects.

 

U.S. Stock Movers 

Alphabet, Amazon, Meta Platforms, and Microsoft are scheduled to release their quarterly results on Wednesday, and Apple is expected to release its results on Thursday.

The so-called Mag 7 stocks have rebounded more than 10% in April, contributing to the broader market rally driven by expectations of easing supply disruptions in the Strait of Hormuz. 

Domino's Pizza Inc. declined 3.7% to $351.27 after the fast food company reported its financial results. 

Total revenues in the first quarter increased 3.5% to $1.15 billion from $1.11 billion, net income declined 6.6% to $139.8 million from $149.7 million, and diluted earnings per share fell 4.6% to $4.13 from $4.33. 

The company's quarterly results fell short of analysts' estimates of earnings per share of $4.27 and revenue of $1.16.

Same store sales growth at the U.S.-based locations increased 0.9%, compared to a decline of 0.5% in the quarter a year ago.