The Rundown
China Blocks Meta’s $2B AI Acquisition, OpenAI Partners with Qualcomm on Smartphone
27 Apr 2026
Transcript generated automatically by AI and may contain errors.
Chapter 1: What are the major market updates for April 27, 2026?
Public.com presents The Rundown, your daily market update in under 10 minutes. My name is Zaid Admani, and today is Monday, April 27th. In today's episode, we'll preview this upcoming week. We got big tech earnings and a Fed meeting. We'll also break down all the news coming out of OpenAI, including rumors of a smartphone.
Then stick around to the end of the show to find out why Nike is taking another L. We got a great show for you today. Let's go. Stocks are coming off the fourth straight week of gains. The S&P 500 went up half a percent last week, while the NASDAQ added 1.5%, both closing at record highs on Friday. Semiconductor stocks continue to lift up the overall market.
Intel, Nvidia, AMD were just some of the companies to hit all-time highs on Friday. In fact, it was Intel's first record close in 26 years. If you wanna learn more about why Intel is surging right now, check out our episode from Friday, where we break down their latest earnings. Now zooming out, let's talk about geopolitics real quick. There were some new developments on the Iran situation.
Peace talks were supposed to happen in Pakistan over the weekend, but then President Trump canceled plans to send the US delegation saying that there was too much infighting and confusion within Iran's leadership. But then there were reports that Iran sent the US a new proposal to reopen the Strait of Hormuz and end the war. So we'll see if that goes anywhere.
Oil traders are still cautious though. Brent crude is trading around $106 a barrel, while WTI is around $95 a barrel. Looking ahead to this week, we have a stacked week coming up. I mean, this might be the most important week of the year for the stock market. Microsoft, Google, Amazon, and Meta all report earnings after the bell on Wednesday, and then Apple reports on Thursday.
I kind of wish these companies would coordinate and spread out their earnings a bit, but no, they're all reporting at the same time. So we're going to be really busy reading earnings reports on Wednesday night. On top of the big tech earnings, there's also a Fed meeting this week.
Now, the Fed isn't expected to cut interest rates at this meeting, but I'm really curious what Jerome Powell has to say and if the markets will react to what he has to say, given the fact that there's a new Fed chair coming in. So yeah, we're going to be breaking that down as well. Like I said, a lot going on. I'm loading up on my Celsius energy drinks and locking in for the week.
So definitely get subscribed to the podcast and tune in every day to stay in the loop. Let's run through some headlines. starting with OpenAI. OpenAI has reportedly partnered with Qualcomm to build a smartphone.
According to tech analyst Ming-Chi Ku, Qualcomm is working alongside Taiwanese chip maker MediaTek to develop the processors for the smartphone with Chinese manufacturer Luxshare co-designing and building the actual device. Mass production of this device is expected to start in 2028, so in about a couple years.
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Chapter 2: What impact does the Fed meeting have on the stock market this week?
Thank you guys so much for listening, watching and commenting. Shout out to Mike and Connor for all the work behind the scenes. And we'll see you guys back here tomorrow.