Nasdaq, S&P 500 Cool From Records Amid Tech Weakness

The S&P 500 and Nasdaq pulled back on Tuesday after notching record highs yesterday, with weakness taking hold in tech. A report that sparked fears around OpenAI's financial sustainability was in focus, with higher oil prices adding more pressure. The Dow settled just below breakeven, as chip names including Nvidia (NVDA), Broadcom (AVGO), and Intel (INTC) slid alongside the VanEck Semiconductor ETF (SMH).

• 15 stocks near potential turning points. 
• Roku stock could extend its recent pullback.
• Plus, ORCL's user shortage; KO back near record levels; and what overshadowed SPOT's beat?

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5 Things to Know Today

1. The United Arab Emirates (UAE), which was the third largest produced in OPEC, will exit the group on May 1. (CNBC)
2. Appeals court rejects Trump-era immigration detention policy. (Reuters)
3. Oracle stock spirals down alongside sector peers.
4. Coca-Cola's beat-and-raise boosts shares.
5. SPOT falls on disappointing guidance.

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Gold Prices Slip Ahead of Fed Meeting Kickoff

Oil prices sured on Tuesday, amid reports that President Donald Trump was dissatisfied with Iran’s proposal to reopen the Strait of Hormuz. June-dated West Texas Intermediate (WTI) climbed over 3% to settle at $99.93 per barrel.

Gold prices slid sharply, pressured by inflation concerns and uncertainty ahead of the Federal Reserve’s interest rate decision. June-dated gold futures fell 2.3% to settle at $4,584.70 an ounce.