US Stock Market Today: S&P 500 Futures Slip As Rate And Inflation Jitters Persist

The Morning Bull – US Market Morning Update Thursday, Apr, 23 2026

E mini S&P 500 futures are pointing lower this morning, with contracts down about 0.5%, as investors weigh rising borrowing costs against stubborn inflation worries. The US 10 year Treasury yield is sitting near 4.31%, which means mortgages, car loans and corporate borrowing remain relatively expensive. At the same time, persistent US Iran tensions and firm energy prices are keeping the risk of higher fuel and transport costs in focus. With key US jobs data and the ISM Manufacturing PMI, a major scorecard of factory activity, still ahead, the main question is whether higher rates and pricier energy will put more pressure on interest rate sensitive sectors like real estate and small caps than support energy related names.

With rates elevated and inflation remaining sticky, many investors are gravitating to 73 resilient stocks with low risk scores.

Top Movers

• GE Vernova (GEV) jumped 13.75% after reporting first quarter results and updating its share buyback activity.
• Arm Holdings (ARM) surged 12.01% as traders focused on recent AI partnership headlines and chip demand themes.
• Strategy (MSTR) gained 9.39% following a price target increase at Cantor Fitzgerald and upbeat bitcoin related coverage.

Is Arm Holdings still a smart investment or just hype? Read our most popular narrative and get all the answers you need.

Top Losers

• Avis Budget Group (CAR) dropped 37.82% after Barclays downgraded the stock to sell following a sharp short squeeze.
• TE Connectivity (TEL) declined 9.10% as HSBC turned more cautious and downgraded the shares.
• Equifax (EFX) fell 7.15% following mixed analyst price target revisions despite recent earnings and guidance updates.

For a broader sense of where other stocks with steadier profiles are trading, many readers also turn to tools that filter for balance sheet strength and lower risk, including the solid balance sheet and fundamentals stocks screener (42 results).

Look past the noise – uncover the top narrative that explains what truly matters for Equifax’s long-term success.

On The Radar

Earnings from major industrials, financials and energy names take the spotlight alongside rate sensitive macro signals.

• US rates and inflation: The US 10-year near 4.31% keeps funding costs front and center on Thursday.
• Comcast (CMCSA): Q1 results on Thursday, before the market opens, spotlight broadband, media and advertising trends for communication services.
• Intel (INTC): Q1 report on Thursday, after the market closes, will shape views on chip demand and AI related spending themes.
• SLB (SLB) and Baker Hughes (BKR): Q1 results on Thursday and Friday frame oilfield activity against firm energy prices and US Iran tensions.
• Norfolk Southern (NSC) and Union Pacific (UNP): Rail earnings on Thursday and Friday highlight freight demand and cost pressures across US transport.

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Find Tomorrow’s Top Performers

When headlines feel noisy, it helps to focus on companies built to stay resilient. The clock is always ticking before the next bout of volatility hits, so take a look at the screener containing 23 high quality undiscovered gems to spot under the radar businesses with strong fundamentals that could matter most when conditions get choppy.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data
and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your
financial situation. We aim to bring you long-term focused analysis driven by fundamental data.
Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material.
Simply Wall St has no position in any stocks mentioned.

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