米国株）株式市況20260429
US Market Report – April 29, 2026
Market Snapshot
US stocks ended mixed after a volatile session dominated by the Federal Reserve’s decision to hold rates steady, escalating Middle East tensions, and a heavy Big Tech earnings slate.
Dow Jones Industrial Average (DIA): –0.6% (fifth straight decline)
S&P 500 (SPY): –0.05% (essentially flat)
Nasdaq Composite (QQQ): +0.05% (modest gain)
Sectors Rotation
Energy was the clear outperformer (+~2%), while utilities lagged as defensives rotated into cyclical names amid higher yields.
Tech held up relatively well intraday on earnings optimism but showed post-close divergence driven by capex commentary.
Key Drivers
1. Federal Reserve Holds Rates, Signals Heightened Uncertainty
The Fed left the federal-funds rate unchanged at 3.50%–3.75%. In a notable shift, the statement highlighted that “developments in the Middle East are contributing to elevated uncertainty around the economy.” Four dissents — the most since 1992 — underscored deep divisions: three regional-bank presidents objected to retaining the “easing bias,” while Governor Stephen Miran dissented in favor of an immediate rate cut. Jerome Powell’s final press conference as Chair was marked by caution: “It hasn’t even peaked yet… There’s headline inflation coming out of the Gulf and we don’t know how much that will be.” Powell announced he will remain on the Board as a governor after his chair term ends May 15 to defend the institution amid legal and political pressures. Kevin Warsh’s confirmation as successor is advancing.
2. Oil Shock Dominates Sentiment
Brent crude surged to its highest level since 2022 (~$118/barrel for June futures), driven by disruptions in the Strait of Hormuz and broader US-Iran supply concerns. The energy shock has forced traders to abandon virtually all expectations for rate cuts in 2026 and begin pricing in a possible hike as far out as 2027.
10-year Treasury yield rose to 4.415% (highest since early April cease-fire)
2-year Treasury yield settled at 3.932%
3. Big Tech Earnings – Mixed After-Hours Reaction
After the bell, the market digested results from Microsoft, Meta, Amazon, and Alphabet:
Other notable movers on the day:
Starbucks (SBUX) +8.4% (strong traffic)
Visa (V) higher on solid results
Seagate (STX), NXP (NXPI) gained on AI-related guidance beats
Robinhood (HOOD) sharply lower on weak crypto revenue
Plug Power (PLUG) rallied on fuel-cell momentum
Economic Calendar
Bottom Line
The combination of an oil-driven inflation scare and the Fed’s most divided meeting in decades has pushed bond yields higher and erased near-term rate-cut expectations. While Big Tech continues to deliver strong top-line growth and AI momentum, investors are increasingly focused on the ballooning capital-expenditure bills and the uncertain macro backdrop stemming from the Middle East conflict.
