[New York Market] OpenAI Misses Revenue Targets... Opens Mixed

Most Tech Stocks Decline
International Oil Prices on the Rise

New York Stock Exchange. New York, USA – Special Correspondent Yoonjoo Hwang

On April 28 (local time), reports that OpenAI's revenue and new user growth fell short of targets dampened investor sentiment toward technology stocks, resulting in mixed performance across the three major U.S. indices.

According to the home trading system (HTS), as of 9:50 a.m. on the New York Stock Exchange (NYSE), the Dow Jones Industrial Average was up 86.66 points (0.17%) at 49,254.45 compared to the previous trading day. The S&P 500 index, which is focused on large-cap stocks, was down 28.15 points (0.39%) at 7,145.76, while the tech-heavy Nasdaq index was down 181.45 points (0.72%) at 24,705.65.

On this day, the New York stock market appeared to be taking a wait-and-see approach to the war in Iran while focusing on big tech earnings announcements. According to the Wall Street Journal (WSJ), OpenAI recently experienced revenue and new user growth rates below its internal targets. The WSJ reported that Chief Financial Officer Sarah Friar expressed concern to the management team that, unless revenue growth accelerates sufficiently, the company may not be able to pay for future computing contract costs.

Technology stocks were generally weak. Notable declines included Nvidia, down 2.21%; Amazon, down 0.53%; TSMC, down 2.41%; Meta, down 0.37%; and Tesla, down 0.23%.

John Belton, growth portfolio manager at Valley Fund, commented, "I think the strong performance in the first quarter has already been reflected to some extent in the market. However, given the solid fundamentals and high expectations, it is difficult to predict how the stock prices will react on the day of the earnings announcements."

International oil prices were rising as the second ceasefire talks between the United States and Iran reached a stalemate. On the New York Mercantile Exchange, West Texas Intermediate (WTI) crude for June delivery was up 3.70% from the previous session at $99.98 per barrel. On the ICE Futures Exchange, Brent crude for June delivery was up 2.74% from the previous session at $111.23 per barrel.

This content was produced with the assistance of AI translation services.