REUTERS
"Oil Falls on Renewed Iran Talk Hopes"
by Bloomberg | M. Gindis, P. Burkhardt, A.D. Paola
Friday, April 24, 2026
Oil prices fell on fresh hopes that elusive peace talks between the US and Iran may materialize after all and pave the way for the resumption of energy flows though the vital Strait of Hormuz.
West Texas Intermediate futures fell 1.5% to settle above $94 a barrel.
The White House said it was sending two envoys to Pakistan with the intention of talking with Iranian officials also slated to be in Islamabad.
But Tehran still sounded a pessimistic tone on the prospects for talks.
Traders have been closely tracking signals on whether peace talks will again take place and offer some relief as the strait — which connects the Persian Gulf to global markets — remains largely shut.
Conflicting messaging from both sides means that WTI futures are still up 13% for the week, the biggest jump since the initial surge triggered by the war in early March.
Iran Foreign Minister Abbas Araghchi plans to present a new written response to a US proposal for a peace deal while in Pakistan, the New York Times reported.
Recent developments "suggest that traders are getting increasingly comfortable with the idea that the kinetic phase of the US-Iran conflict is ending, or has already ended, and that an economic war is becoming entrenched," said Thierry Wizman, Global FX & Rates Strategist at Macquarie Group.
US President Donald Trump's Truth Social posts — as well as his decision to continue a naval blockade of Iranian ports — have been detrimental to negotiations through mediators such as Pakistan, according to two US officials familiar with the matter.
The blockade, a major sticking point in bringing Tehran to the negotiating table, is choking off Iranian crude exports — the only flows out of the Persian Gulf since the war began at the end of February.
A US-sanctioned supertanker laden with Iranian oil appeared to halt its transit through Hormuz on Friday.
"All they have to do is abandon a nuclear weapon and in meaningful and verifiable ways," US Defense Secretary Pete Hegseth said Friday.
"Or instead, they can watch their regime's fragile economic state collapse under the unrelenting pressure of American power, a blockade as long as it takes."
"Whatever President Trump decides."
Trump said in a social media post this week that he had ordered the US Navy to "shoot and kill" boats laying mines in the strait.
Crude oil production in the Persian Gulf will take "a few months" to mostly restore, assuming a full reopening of Hormuz and no renewed strikes, Goldman Sachs Group Inc. analysts including Daan Struyven said in an April 23 note.
The bank sees output being curtailed by about 14.5 million barrels a day, or more than 50% in April.
"Even a full reopening may still leave flows taking several months to normalize, creating additional tightness, especially in diesel and jet fuel, and forcing countries and companies to curb demand," Saxo Bank's Hansen said.
Oil Prices
WTI for June delivery fell 1.5% to settle at $94.40 a barrel in New York.
Brent for June settlement gained 0.3% to settle at $105.33 a barrel.
https://www.rigzone.com/news/wire/oil_f ... 8-article/
THE DAILY NEWS
Re: THE DAILY NEWS
REUTERS
"China to curb US investment in tech companies, Bloomberg News reports"
By Reuters
April 24, 2026
April 24 (Reuters) - China plans to restrict top technology firms, including leading AI startups, from accepting U.S. capital without government approval, Bloomberg News reported on Friday, citing people familiar with the matter.
Chinese regulators, including the National Development and Reform Commission, have recently instructed several private technology firms to reject U.S. investment in funding rounds unless explicitly approved, the report said.
AI startups Moonshot AI and StepFun were among the companies that received the guidance, the report said.
Regulators have also decided on similar restrictions for TikTok owner ByteDance and do not want the company to approve secondary share sales to U.S. investors without government approval, it added.
The measures are aimed at preventing U.S. investors from gaining stakes in sensitive technologies linked to China's national security, Bloomberg reported.
NDRC, StepFun, ByteDance, Meta and Moonshot AI did not immediately respond to Reuters requests for comment.
The U.S. Department of the Treasury and the Department of Commerce's Bureau also did not respond immediately.
The Chinese Embassy in Washington said it was not familiar with the matter.
The heightened scrutiny follows Meta's more than $2 billion acquisition of AI startup Manus in 2025, which triggered investigations into foreign investments in Chinese companies and technology exports amid concerns the transaction could spur other startups to move advanced technology offshore.
For years, U.S. capital has played a significant role in China's technology sector, ranging from venture investments by firms such as Sequoia Capital and Benchmark to deep operating ties involving companies such as Apple, Microsoft and Tesla.
American pension funds and endowments have also been major backers of China-focused venture funds, helping fuel growth across internet platforms, electric vehicles and AI.
Washington also imposed its own restrictions earlier this year, limiting U.S. investment in certain Chinese AI, semiconductor and quantum firms, citing security concerns.
Reporting by Abu Sultan and Kritika Lamba in Bengaluru; Editing by Shinjini Ganguli and Diti Pujara
https://www.reuters.com/world/china/chi ... 026-04-24/
"China to curb US investment in tech companies, Bloomberg News reports"
By Reuters
April 24, 2026
April 24 (Reuters) - China plans to restrict top technology firms, including leading AI startups, from accepting U.S. capital without government approval, Bloomberg News reported on Friday, citing people familiar with the matter.
Chinese regulators, including the National Development and Reform Commission, have recently instructed several private technology firms to reject U.S. investment in funding rounds unless explicitly approved, the report said.
AI startups Moonshot AI and StepFun were among the companies that received the guidance, the report said.
Regulators have also decided on similar restrictions for TikTok owner ByteDance and do not want the company to approve secondary share sales to U.S. investors without government approval, it added.
The measures are aimed at preventing U.S. investors from gaining stakes in sensitive technologies linked to China's national security, Bloomberg reported.
NDRC, StepFun, ByteDance, Meta and Moonshot AI did not immediately respond to Reuters requests for comment.
The U.S. Department of the Treasury and the Department of Commerce's Bureau also did not respond immediately.
The Chinese Embassy in Washington said it was not familiar with the matter.
The heightened scrutiny follows Meta's more than $2 billion acquisition of AI startup Manus in 2025, which triggered investigations into foreign investments in Chinese companies and technology exports amid concerns the transaction could spur other startups to move advanced technology offshore.
For years, U.S. capital has played a significant role in China's technology sector, ranging from venture investments by firms such as Sequoia Capital and Benchmark to deep operating ties involving companies such as Apple, Microsoft and Tesla.
American pension funds and endowments have also been major backers of China-focused venture funds, helping fuel growth across internet platforms, electric vehicles and AI.
Washington also imposed its own restrictions earlier this year, limiting U.S. investment in certain Chinese AI, semiconductor and quantum firms, citing security concerns.
Reporting by Abu Sultan and Kritika Lamba in Bengaluru; Editing by Shinjini Ganguli and Diti Pujara
https://www.reuters.com/world/china/chi ... 026-04-24/
Re: THE DAILY NEWS
RIGZONE
"Oil Rises as Iran Talks Stall"
by Bloomberg | Staff
Monday, April 27, 2026
Oil rose after efforts to resume peace talks over the Iran war stalled, leaving the Strait of Hormuz almost impassable and prolonging the supply disruption that has roiled global markets.
West Texas Intermediate futures gained 2.1% to settle above $96 a barrel, while Brent closed near $108.
White House Press Secretary Karoline Leavitt said US President Donald Trump discussed an Iranian proposal with his national security team, but was vague about details and the US reaction.
A wave of Monday headlines underscored persistent gaps in understanding between US and Iranian negotiators, reinforcing the view that a resolution is not imminent.
Over the weekend, President Donald Trump canceled a planned trip by his top envoys to Pakistan, which is mediating talks, while Iran said it won’t negotiate if it’s being threatened.
The two sides have mostly observed a ceasefire since early April, but shipping blockades by both the US and Iran have cut daily transits through the Strait of Hormuz to near zero.
The supply shock has choked off supplies of crude, fuel, natural gas and fertilizers, raising concerns about an inflation crisis.
A peace deal remains unlikely in the near-term, with the US still focused on Iran relinquishing its nuclear capabilities, said Dennis Kissler, senior vice president for trading at BOK Financial Securities Inc.
"We are seeing higher crude prices being placed further out into the futures curve, as supplies look to remain tighter for longer," he added.
The US president on Saturday told his envoys Jared Kushner and Steve Witkoff to skip the trip to Pakistan, and later told reporters that Iran "offered a lot, but not enough."
Iran’s top diplomat met mediators in Pakistan and left Islamabad well ahead of the planned arrival of US envoys.
Iranian President Masoud Pezeshkian said his nation won’t enter "imposed negotiations under threats or blockade."
The US-Israel war on Iran, now in its ninth week, has driven up energy prices and led to shortages of key products such as liquefied petroleum gas in India.
The International Energy Agency says the conflict is causing the biggest supply shock in history.
The longer Hormuz is closed, the more consumption is going to have to recalibrate lower to align with a drop of at least 10% in supply, according to traders.
A loss of 1 billion barrels is already all but guaranteed — more than double the emergency inventories that governments released after the conflict.
So-called demand destruction, such as airlines cutting back on the number of scheduled flights, is likely to spread.
Still, there is some cushion: Europe has roughly 200 days of jet fuel import cover left, Alastair Syme, global head of energy research at Citi said in a webcast.
US forces intercepted a sanctioned vessel in the Arabian Sea on Saturday as part of the blockade, according to US Central Command.
A Navy helicopter was deployed to intercept the vessel, which subsequently complied with military directions to turn back to Iran under escort.
A total of 38 ships have been redirected since the start of the blockade as of Sunday, Centcom said.
Secretary of State Marco Rubio suggested Iran still wants to retain control of the Strait of Hormuz and cast that as unacceptable to the US.
Separately, Iran’s Foreign Minister Abbas Araghchi traveled to Russia and met with President Vladimir Putin.
Araghchi said the Iranian people are able to resist "US aggression and will be able to overcome it," state-owned Nour News said on Monday.
Most of Iran’s crude is exported to China, with the country’s private refiners — known as teapots — taking advantage of the cheaper barrels.
On Friday, the US sanctioned Hengli Petrochemical (Dalian) Refinery Co. over its links to Tehran, just weeks ahead of an expected summit between Trump and Chinese President Xi Jinping.
Hengli has denied any trade with Iran.
"This combination is unstable in a particular way," said Martijn Rats, global oil strategist at Morgan Stanley.
"Every day the current situation persists, the oil market tightens, putting upward pressure on prices."
"On the other hand, if a peace deal were to be announced soon, oil supply could improve and part of the risk premium in prices could dissipate."
Oil Prices
WTI for June delivery climbed 2.1% to settle at $96.37 a barrel in New York.
Brent for June settlement was 2.8% higher to settle at $108.23 a barrel.
https://www.rigzone.com/news/wire/oil_r ... 9-article/
"Oil Rises as Iran Talks Stall"
by Bloomberg | Staff
Monday, April 27, 2026
Oil rose after efforts to resume peace talks over the Iran war stalled, leaving the Strait of Hormuz almost impassable and prolonging the supply disruption that has roiled global markets.
West Texas Intermediate futures gained 2.1% to settle above $96 a barrel, while Brent closed near $108.
White House Press Secretary Karoline Leavitt said US President Donald Trump discussed an Iranian proposal with his national security team, but was vague about details and the US reaction.
A wave of Monday headlines underscored persistent gaps in understanding between US and Iranian negotiators, reinforcing the view that a resolution is not imminent.
Over the weekend, President Donald Trump canceled a planned trip by his top envoys to Pakistan, which is mediating talks, while Iran said it won’t negotiate if it’s being threatened.
The two sides have mostly observed a ceasefire since early April, but shipping blockades by both the US and Iran have cut daily transits through the Strait of Hormuz to near zero.
The supply shock has choked off supplies of crude, fuel, natural gas and fertilizers, raising concerns about an inflation crisis.
A peace deal remains unlikely in the near-term, with the US still focused on Iran relinquishing its nuclear capabilities, said Dennis Kissler, senior vice president for trading at BOK Financial Securities Inc.
"We are seeing higher crude prices being placed further out into the futures curve, as supplies look to remain tighter for longer," he added.
The US president on Saturday told his envoys Jared Kushner and Steve Witkoff to skip the trip to Pakistan, and later told reporters that Iran "offered a lot, but not enough."
Iran’s top diplomat met mediators in Pakistan and left Islamabad well ahead of the planned arrival of US envoys.
Iranian President Masoud Pezeshkian said his nation won’t enter "imposed negotiations under threats or blockade."
The US-Israel war on Iran, now in its ninth week, has driven up energy prices and led to shortages of key products such as liquefied petroleum gas in India.
The International Energy Agency says the conflict is causing the biggest supply shock in history.
The longer Hormuz is closed, the more consumption is going to have to recalibrate lower to align with a drop of at least 10% in supply, according to traders.
A loss of 1 billion barrels is already all but guaranteed — more than double the emergency inventories that governments released after the conflict.
So-called demand destruction, such as airlines cutting back on the number of scheduled flights, is likely to spread.
Still, there is some cushion: Europe has roughly 200 days of jet fuel import cover left, Alastair Syme, global head of energy research at Citi said in a webcast.
US forces intercepted a sanctioned vessel in the Arabian Sea on Saturday as part of the blockade, according to US Central Command.
A Navy helicopter was deployed to intercept the vessel, which subsequently complied with military directions to turn back to Iran under escort.
A total of 38 ships have been redirected since the start of the blockade as of Sunday, Centcom said.
Secretary of State Marco Rubio suggested Iran still wants to retain control of the Strait of Hormuz and cast that as unacceptable to the US.
Separately, Iran’s Foreign Minister Abbas Araghchi traveled to Russia and met with President Vladimir Putin.
Araghchi said the Iranian people are able to resist "US aggression and will be able to overcome it," state-owned Nour News said on Monday.
Most of Iran’s crude is exported to China, with the country’s private refiners — known as teapots — taking advantage of the cheaper barrels.
On Friday, the US sanctioned Hengli Petrochemical (Dalian) Refinery Co. over its links to Tehran, just weeks ahead of an expected summit between Trump and Chinese President Xi Jinping.
Hengli has denied any trade with Iran.
"This combination is unstable in a particular way," said Martijn Rats, global oil strategist at Morgan Stanley.
"Every day the current situation persists, the oil market tightens, putting upward pressure on prices."
"On the other hand, if a peace deal were to be announced soon, oil supply could improve and part of the risk premium in prices could dissipate."
Oil Prices
WTI for June delivery climbed 2.1% to settle at $96.37 a barrel in New York.
Brent for June settlement was 2.8% higher to settle at $108.23 a barrel.
https://www.rigzone.com/news/wire/oil_r ... 9-article/
Re: THE DAILY NEWS
CNBC
"Treasury yields move higher ahead of Fed policy week"
Sean Conlon @SeanAustin96 Joseph Wilkins
Published Mon, Apr 27 2026
U.S. Treasury yields moved higher on Monday as investors looked ahead to the Federal Reserve’s monetary policy meeting, during which Fed chair Jerome Powell is widely expected to keep interest rates on hold.
The yield on the 10-year U.S. Treasury note — the key benchmark for U.S. government borrowing — was up more than 2 basis points at 4.338%.
The 2-year Treasury note yield, which more closely tracks short-term Federal Reserve interest rate policy, was also more than 2 basis points higher at 3.799%.
Yields ticked up after a lackluster 2-year and 5-year note auction.
One basis point is equal to 0.01%, and yields and prices move in opposite directions.
The policy decision on Wednesday could mark Jerome Powell’s final meeting as chair before Kevin Warsh is expected to take over in May.
The Department of Justice decided to drop its criminal probe into Powell on Friday, causing Sen. Thom Tillis to end his block of Warsh’s confirmation.
In terms of the monetary policy outlook, investors are unlikely to get anything “particularly revelatory,” wrote Dutch bank ING in a note.
“The minutes from the last decision suggested that the ‘vast majority’ of the FOMC membership saw employment risks as skewed to the downside, while progress on inflation was likely to be slower because of the economic headwinds being generated by developments in the Middle East,” the analysts said.
“This is likely to remain the way the committee assesses the situation with little prospect of any immediate change in policy signaled.”
The European Central Bank (ECB) and Bank of England (BOE) are also due to hold pivotal meetings as the war upends inflation and growth expectations.
The ECB and BOE both publish their latest monetary policy decisions on Thursday, with economists expecting the central banks to stand pat on their benchmark interest rates at their respective meetings this month, but will leave the door open to hikes later this year.
https://www.cnbc.com/2026/04/27/treasur ... owell.html
"Treasury yields move higher ahead of Fed policy week"
Sean Conlon @SeanAustin96 Joseph Wilkins
Published Mon, Apr 27 2026
U.S. Treasury yields moved higher on Monday as investors looked ahead to the Federal Reserve’s monetary policy meeting, during which Fed chair Jerome Powell is widely expected to keep interest rates on hold.
The yield on the 10-year U.S. Treasury note — the key benchmark for U.S. government borrowing — was up more than 2 basis points at 4.338%.
The 2-year Treasury note yield, which more closely tracks short-term Federal Reserve interest rate policy, was also more than 2 basis points higher at 3.799%.
Yields ticked up after a lackluster 2-year and 5-year note auction.
One basis point is equal to 0.01%, and yields and prices move in opposite directions.
The policy decision on Wednesday could mark Jerome Powell’s final meeting as chair before Kevin Warsh is expected to take over in May.
The Department of Justice decided to drop its criminal probe into Powell on Friday, causing Sen. Thom Tillis to end his block of Warsh’s confirmation.
In terms of the monetary policy outlook, investors are unlikely to get anything “particularly revelatory,” wrote Dutch bank ING in a note.
“The minutes from the last decision suggested that the ‘vast majority’ of the FOMC membership saw employment risks as skewed to the downside, while progress on inflation was likely to be slower because of the economic headwinds being generated by developments in the Middle East,” the analysts said.
“This is likely to remain the way the committee assesses the situation with little prospect of any immediate change in policy signaled.”
The European Central Bank (ECB) and Bank of England (BOE) are also due to hold pivotal meetings as the war upends inflation and growth expectations.
The ECB and BOE both publish their latest monetary policy decisions on Thursday, with economists expecting the central banks to stand pat on their benchmark interest rates at their respective meetings this month, but will leave the door open to hikes later this year.
https://www.cnbc.com/2026/04/27/treasur ... owell.html
Re: THE DAILY NEWS
REUTERS
"S&P 500, Nasdaq, close slightly higher in cautious start to a heavy earnings week"
By Stephen Culp and Niket Nishant
April 27, 2026
Summary
* Indexes: Dow off 0.13%, S&P 500 up 0.12%, Nasdaq up 0.20%
* Trump cancels US envoys' visit to Pakistan
* Verizon rises after reporting better-than-expected subscriber adds
* Domino's slides after missing Q1 sales estimates
NEW YORK, April 27 (Reuters) - The S&P 500 and the Nasdaq eked out modest gains on Monday in muted trading, as investors took a breath at the top of an eventful week, with earnings, economic data, the U.S. Federal Reserve's rate decision and the ebb and flow of Middle East tensions all crowding the docket.
All three major U.S. stock indexes wavered throughout the session, showing little conviction in either direction after last week's rally.
The S&P 500 and the Nasdaq notched their latest in a series of record closing highs.
The session began with the S&P 500 up over 100% since the bull market began in October 2022.
"The market is just trying to deal with the rally that's been going on and digest the latest all-time highs that we've made on the indices," said Robert Pavlik, senior portfolio manager at Dakota Wealth in Fairfield, Connecticut.
"And it's trying to figure out whether or not those all-time highs are justified."
First-quarter earnings season has hit full stride, with a host of high-profile firms slated to report this week, including five of the Magnificent Seven technology megacaps, Amazon, Alphabet, Meta Platforms, Apple and Microsoft.
Investors will assess the extent to which these companies are beginning to reap benefits from their massive expenditures on artificial intelligence.
As of Friday, 139 companies in the S&P 500 have posted first-quarter results.
Of those, 81% have beaten estimates.
Analysts now see aggregate S&P 500 earnings growth of 16.1% year-on-year, up from 14.4% on April 1, according to LSEG I/B/E/S.
The companies due to report this week account for roughly 44% of the S&P 500's market capitalization, according to Raymond James.
"Guidance has been pretty good."
"We’re seeing earnings growth of 15%, and I would classify that as a very good environment, except the road has gotten a lot more bumpy," Pavlik added, referring to geopolitical tensions in the Middle East.
Attempts to revive peace talks between the U.S. and Iran continue, following President Donald Trump's decision to call off negotiators' trip to Islamabad for another round of face-to-face talks.
Iran continues to restrict shipments through the Strait of Hormuz, with Iranian officials demanding that Washington lift its blockade as a precondition to further negotiation.
On Tuesday, the Federal Reserve is scheduled to convene for its two-day policy meeting, widely expected to culminate in the decision to leave interest rates unchanged.
The accompanying statement and Fed Chair Jerome Powell's press conference will be scrutinized for clues regarding the central bank's assessment of U.S. economic health and the inflationary impact of spiking energy prices resulting from the U.S.-Israeli war on Iran.
The Dow Jones Industrial Average fell 62.67 points, or 0.13%, to 49,168.04, the S&P 500 gained 8.85 points, or 0.12%, to 7,173.93 and the Nasdaq Composite gained 50.50 points, or 0.20%, to 24,887.10.
Of the 11 major sectors in the S&P 500, communication services enjoyed the largest percentage gain, while consumer staples dropped the most.
Verizon advanced 1.5% following the telecom company's annual forecast hike due to stronger-than-expected subscriber adds.
Domino's Pizza slid 8.8% after the food delivery chain first-quarter sales estimates.
Nvidia jumped 4.0%, extending the prior session's 4.3% surge.
The company has reclaimed a market valuation of more than $5 trillion.
Advancing issues outnumbered decliners by a 1.1-to-1 ratio on the NYSE.
There were 336 new highs and 47 new lows on the NYSE.
On the Nasdaq, 2,189 stocks rose and 2,499 fell as declining issues outnumbered advancers by a 1.14-to-1 ratio.
The S&P 500 posted 17 new 52-week highs and nine new lows while the Nasdaq Composite recorded 123 new highs and 92 new lows.
Volume on U.S. exchanges was 15.59 billion shares, compared with the 18.28 billion average for the full session over the last 20 trading days.
Reporting by Stephen Culp; Additonal reporting by Niket Nishant and Utkarsh Hathi in Bengaluru; Editing by David Gregorio
https://www.reuters.com/business/us-sto ... 026-04-27/
"S&P 500, Nasdaq, close slightly higher in cautious start to a heavy earnings week"
By Stephen Culp and Niket Nishant
April 27, 2026
Summary
* Indexes: Dow off 0.13%, S&P 500 up 0.12%, Nasdaq up 0.20%
* Trump cancels US envoys' visit to Pakistan
* Verizon rises after reporting better-than-expected subscriber adds
* Domino's slides after missing Q1 sales estimates
NEW YORK, April 27 (Reuters) - The S&P 500 and the Nasdaq eked out modest gains on Monday in muted trading, as investors took a breath at the top of an eventful week, with earnings, economic data, the U.S. Federal Reserve's rate decision and the ebb and flow of Middle East tensions all crowding the docket.
All three major U.S. stock indexes wavered throughout the session, showing little conviction in either direction after last week's rally.
The S&P 500 and the Nasdaq notched their latest in a series of record closing highs.
The session began with the S&P 500 up over 100% since the bull market began in October 2022.
"The market is just trying to deal with the rally that's been going on and digest the latest all-time highs that we've made on the indices," said Robert Pavlik, senior portfolio manager at Dakota Wealth in Fairfield, Connecticut.
"And it's trying to figure out whether or not those all-time highs are justified."
First-quarter earnings season has hit full stride, with a host of high-profile firms slated to report this week, including five of the Magnificent Seven technology megacaps, Amazon, Alphabet, Meta Platforms, Apple and Microsoft.
Investors will assess the extent to which these companies are beginning to reap benefits from their massive expenditures on artificial intelligence.
As of Friday, 139 companies in the S&P 500 have posted first-quarter results.
Of those, 81% have beaten estimates.
Analysts now see aggregate S&P 500 earnings growth of 16.1% year-on-year, up from 14.4% on April 1, according to LSEG I/B/E/S.
The companies due to report this week account for roughly 44% of the S&P 500's market capitalization, according to Raymond James.
"Guidance has been pretty good."
"We’re seeing earnings growth of 15%, and I would classify that as a very good environment, except the road has gotten a lot more bumpy," Pavlik added, referring to geopolitical tensions in the Middle East.
Attempts to revive peace talks between the U.S. and Iran continue, following President Donald Trump's decision to call off negotiators' trip to Islamabad for another round of face-to-face talks.
Iran continues to restrict shipments through the Strait of Hormuz, with Iranian officials demanding that Washington lift its blockade as a precondition to further negotiation.
On Tuesday, the Federal Reserve is scheduled to convene for its two-day policy meeting, widely expected to culminate in the decision to leave interest rates unchanged.
The accompanying statement and Fed Chair Jerome Powell's press conference will be scrutinized for clues regarding the central bank's assessment of U.S. economic health and the inflationary impact of spiking energy prices resulting from the U.S.-Israeli war on Iran.
The Dow Jones Industrial Average fell 62.67 points, or 0.13%, to 49,168.04, the S&P 500 gained 8.85 points, or 0.12%, to 7,173.93 and the Nasdaq Composite gained 50.50 points, or 0.20%, to 24,887.10.
Of the 11 major sectors in the S&P 500, communication services enjoyed the largest percentage gain, while consumer staples dropped the most.
Verizon advanced 1.5% following the telecom company's annual forecast hike due to stronger-than-expected subscriber adds.
Domino's Pizza slid 8.8% after the food delivery chain first-quarter sales estimates.
Nvidia jumped 4.0%, extending the prior session's 4.3% surge.
The company has reclaimed a market valuation of more than $5 trillion.
Advancing issues outnumbered decliners by a 1.1-to-1 ratio on the NYSE.
There were 336 new highs and 47 new lows on the NYSE.
On the Nasdaq, 2,189 stocks rose and 2,499 fell as declining issues outnumbered advancers by a 1.14-to-1 ratio.
The S&P 500 posted 17 new 52-week highs and nine new lows while the Nasdaq Composite recorded 123 new highs and 92 new lows.
Volume on U.S. exchanges was 15.59 billion shares, compared with the 18.28 billion average for the full session over the last 20 trading days.
Reporting by Stephen Culp; Additonal reporting by Niket Nishant and Utkarsh Hathi in Bengaluru; Editing by David Gregorio
https://www.reuters.com/business/us-sto ... 026-04-27/
Re: THE DAILY NEWS
REUTERS
"Iran war disrupts the circuit board supply chain, raises costs for tech firms"
By Che Pan, Liam Mo and Hyunjoo Jin
April 27, 2026
Summary
* Iran attack on Saudi petrochemical plant halts PPE resin output, tightening global supply
* PCB prices surge up to 40% in April, driven by AI server demand and material shortages
* Manufacturers warn of rising costs for resin, copper, and other materials
BEIJING/SEOUL, April 27 (Rtrs) - The conflict in the Middle East has disrupted supplies of crucial raw materials and pushed up prices of the printed circuit boards (PCB) used in almost all electronic devices, from smartphones and computers to AI servers, industry sources and executives said.
The disruption is a fresh blow to electronics manufacturers which are already grappling with soaring memory chip costs and highlights the broadening impact of the Iran war that has wreaked havoc on supply chains, plastics, and oil supplies.
Iran struck Saudi Arabia's Jubail petrochemical complex in early April, forcing a halt in production of high-purity polyphenylene ether (PPE) resin — a critical base material used to manufacture PCB laminates.
SABIC, which accounts for approximately 70% of the world's high-purity PPE supply and operates in the Jubail complex on the Gulf coast, has been unable to resume output, severely tightening the availability of the material worldwide, according to one source.
Shipping in and out of the Gulf has also been severely disrupted by the war.
PCB prices have been climbing since late last year, driven by a growing appetite for AI servers.
Demand has been accelerating sharply since March as manufacturers scramble to secure raw material supplies and soften the impact of skyrocketing costs, three industry sources told Reuters.
In April alone, PCB prices surged as much as 40% from March, Goldman Sachs analysts said in a recent note.
Cloud service providers are willing to accept further increases as they expect demand will outstrip supplies over the coming years, they added.
The global PCB industry is projected to increase by 12.5% to reach $95.8 billion in 2026, according to a recent report from Prismark.
Daeduck Electronics, a South Korean PCB maker whose customers include Samsung Electronics, SK Hynix and AMD, has begun discussions with customers over price increases, a senior executive at the company told Reuters.
The executive, who declined to be named due to sensitivity of the subject, said his priority has now changed from meeting customers to suppliers, as the waiting time for chemical materials such as epoxy resin have stretched to 15 weeks from three weeks previously.
The sharp rise in PCB prices was also driven by a shortage of other key materials, including glass fiber and copper foil, according to one source.
Copper foil prices have surged as much as 30% so far this year, with the rally gaining momentum in March, the source added.
Copper accounts for around 60% of total raw material costs in PCB manufacturing, according to Victory Giant Technology, a major Chinese PCB supplier for Nvidia.
The Chinese firm warned earlier this month that the Middle East conflict could push up prices for key materials including resin and copper.
Multi-layer PCBs can cost around 1,394 yuan ($204) per square metre, with higher-end models for AI servers costing around 13,475 yuan, according to Victory Giant.
Reporting by Che Pan, Liam Mo, and Hyunjoo jin, additional reporting by Wen-Yee Lee; Editing by Miyoung Kim and Lincoln Feast.
https://www.reuters.com/world/middle-ea ... 026-04-27/
"Iran war disrupts the circuit board supply chain, raises costs for tech firms"
By Che Pan, Liam Mo and Hyunjoo Jin
April 27, 2026
Summary
* Iran attack on Saudi petrochemical plant halts PPE resin output, tightening global supply
* PCB prices surge up to 40% in April, driven by AI server demand and material shortages
* Manufacturers warn of rising costs for resin, copper, and other materials
BEIJING/SEOUL, April 27 (Rtrs) - The conflict in the Middle East has disrupted supplies of crucial raw materials and pushed up prices of the printed circuit boards (PCB) used in almost all electronic devices, from smartphones and computers to AI servers, industry sources and executives said.
The disruption is a fresh blow to electronics manufacturers which are already grappling with soaring memory chip costs and highlights the broadening impact of the Iran war that has wreaked havoc on supply chains, plastics, and oil supplies.
Iran struck Saudi Arabia's Jubail petrochemical complex in early April, forcing a halt in production of high-purity polyphenylene ether (PPE) resin — a critical base material used to manufacture PCB laminates.
SABIC, which accounts for approximately 70% of the world's high-purity PPE supply and operates in the Jubail complex on the Gulf coast, has been unable to resume output, severely tightening the availability of the material worldwide, according to one source.
Shipping in and out of the Gulf has also been severely disrupted by the war.
PCB prices have been climbing since late last year, driven by a growing appetite for AI servers.
Demand has been accelerating sharply since March as manufacturers scramble to secure raw material supplies and soften the impact of skyrocketing costs, three industry sources told Reuters.
In April alone, PCB prices surged as much as 40% from March, Goldman Sachs analysts said in a recent note.
Cloud service providers are willing to accept further increases as they expect demand will outstrip supplies over the coming years, they added.
The global PCB industry is projected to increase by 12.5% to reach $95.8 billion in 2026, according to a recent report from Prismark.
Daeduck Electronics, a South Korean PCB maker whose customers include Samsung Electronics, SK Hynix and AMD, has begun discussions with customers over price increases, a senior executive at the company told Reuters.
The executive, who declined to be named due to sensitivity of the subject, said his priority has now changed from meeting customers to suppliers, as the waiting time for chemical materials such as epoxy resin have stretched to 15 weeks from three weeks previously.
The sharp rise in PCB prices was also driven by a shortage of other key materials, including glass fiber and copper foil, according to one source.
Copper foil prices have surged as much as 30% so far this year, with the rally gaining momentum in March, the source added.
Copper accounts for around 60% of total raw material costs in PCB manufacturing, according to Victory Giant Technology, a major Chinese PCB supplier for Nvidia.
The Chinese firm warned earlier this month that the Middle East conflict could push up prices for key materials including resin and copper.
Multi-layer PCBs can cost around 1,394 yuan ($204) per square metre, with higher-end models for AI servers costing around 13,475 yuan, according to Victory Giant.
Reporting by Che Pan, Liam Mo, and Hyunjoo jin, additional reporting by Wen-Yee Lee; Editing by Miyoung Kim and Lincoln Feast.
https://www.reuters.com/world/middle-ea ... 026-04-27/
Re: THE DAILY NEWS
The Cape Charles Mirror
"Gen Z’s Increasing Skepticism of AI"
Wayne Creed
April 19, 2026
A new Gallup survey indicates that Gen Zers, or young people roughly ages 14 to 29, are feeling increasingly skeptical about AI.
Only 22% of young people said that they feel excited about AI, which is down from 36% last year, and only 18% of survey respondents feel hopeful about AI.
Some of this pessimism is likely due to concerns about job loss and economic disruption, especially for early-career workers.
WASHINGTON, D.C. — While a steady 51% of Gen Zers in the U.S. report using generative artificial intelligence at least weekly, negative emotions toward it have intensified over the past year.
Anger about the technology has risen, while excitement and hopefulness have dropped.
Even daily AI users, who generally hold more favorable views of AI, have not become more positive, according to a new survey by the Walton Family Foundation, GSV Ventures and Gallup.
Generation Z — those born between 1997 and 2012 and who are currently aged 14 to 29 — is not convinced that AI enhances creativity or critical thinking, and the majority believe it may come at a cost, particularly to learning.
Employed Gen Zers echo these concerns relative to the workplace, as more say the risks of AI outweigh its benefits, and trust in AI-assisted work is lower than in exclusively human output.
Meanwhile, about half of Gen Z K-12 students think they will need to know how to use AI in their postsecondary education or their future jobs.
Nearly three in five students believe they will be adequately prepared for daily AI use after high school.
These findings are from a web survey conducted Feb. 24-March 4, 2026, with a sample of 1,572 14‑ to 29‑year‑olds, using the probability-based Gallup Panel.
This is the latest research in the Voices of Gen Z study.
Gen Z’s AI Adoption Essentially Unchanged From 2025
Gen Z’s use of generative AI in everyday life has been largely stable since March 2025.
About half (51%) of 14- to 29-year-olds continue to say they use AI either daily (22%) or weekly (29%), while 11% report using it monthly, 20% every few months, and 19% say they never use it.
(Generative AI is defined for this study as technology capable of creating new content based on what you tell it to do, such as writing, brainstorming or creating images.)
Gen Z K-12 students (56%) are more likely than Gen Z adults (48%) to say they use AI at least weekly.
Negative Sentiment About AI Has Increased
Over the past year, Gen Z’s sentiment toward AI has become significantly more negative on three of the four emotions first measured in 2025.
Gen Zers’ strong agreement or agreement that they feel excited about AI has dropped 14 percentage points to 22%, while hopefulness has fallen nine points to 18%, and anger has increased nine points to 31%.
At the same time, anxiety about AI is steady at 42%.
Curiosity, which was added to the list of emotions in this year’s survey, is currently the most common, felt by 49% of Gen Zers.
Familiarity Associated With More-Positive Perceptions
Gen Zers’ feelings about AI are closely tied to how frequently they use it.
Among daily users, 69% report feeling curious, 44% excited and 38% hopeful about the technology.
This compares with 28% who are curious among those who never use AI, along with 4% excited and 2% hopeful.
Meanwhile, negative emotions about AI are far more prevalent among nonusers, with 60% reporting anxiety and 59% anger, compared with 28% and 18%, respectively, among daily users.
However, even daily users’ positivity has declined significantly over the past year.
Gen Zers who report using AI daily are less excited than they were last year (down 18 points) and less hopeful about it (down 11 points).
Their anxiety and anger about AI are statistically similar to last year’s levels.
Skepticism About AI’s Helpfulness Remains
Gen Zers are less inclined than they were in 2025 to believe AI improves efficiency in learning and completing tasks.
The 56% of Gen Z who now agree or strongly agree that AI tools can help expedite work is down 10 points from 2025, while agreement that AI can accelerate learning has fallen seven points, to 46%.
Similar proportions of Gen Zers believe AI will help (37% a little or a lot) or hurt (39% a little or a lot) their ability to search for accurate information, while about a quarter think it will do neither.
At the same time, more tend to believe the technology will be harmful rather than helpful to their abilities to come up with new ideas on their own (38% harmful, 31% helpful) or think carefully about information (42% harmful, 25% helpful).
Gen Zers are less optimistic today than last year that AI will enhance their creativity and research skills, with the percentages expecting it to help them down 11 and six points, respectively.
Gen Zers also question whether AI’s short-term conveniences come at the expense of their long-term development.
Eight in 10 Gen Zers say it is “very” (34%) or “somewhat” (46%) likely that using AI tools will make it more difficult for them to learn in the future.
Gen Z Workers Wary of AI’s Benefits
Employed Gen Zers are more than three times as likely to say the risks of AI in the workforce (48%) outweigh the potential benefits than to say the reverse (15%), while 37% view them as roughly equal.
This reflects a more negative outlook than a year ago, when 37% saw greater risks and 20% greater benefits.
Gen Z workers place more trust in work completed without AI (69%) than in AI-assisted work (28%).
Virtually no workers indicate greater trust in work produced solely by AI (3%).
These findings are similar to last year’s.
More Students Think They Will Need to Know How to Use AI, Expect to Be Ready
Fifty-two percent of Gen Z K-12 students (up from 47% in 2025) agree or strongly agree that they will need to know how to use AI if they go to college or take classes after high school.
Nearly as many, 48%, think they will need to know how to use AI in their future jobs or career, which is statistically similar to last year’s finding.
K-12 students’ confidence that they will be prepared for the future has increased, with 56% now saying they agree or strongly agree that they will have the skills needed to use AI in their daily lives after graduation from high school.
This is up 12 points since last year.
The share of K-12 students who report that their school has AI rules jumped from 51% in 2025 to 74% in 2026.
Access to AI tools from school computers rose from 36% to 49% over the same period.
Among students whose school has a policy, 65% are now permitted to use AI for schoolwork, up from 55% in 2025.
Still, only 28% of students say their school provides them with AI tools to use for their schoolwork.
Implications
Gen Z’s use of AI is mostly steady, but enthusiasm for it has declined while skepticism has climbed.
Gen Zers are more widely questioning AI’s effects on their cognitive skills, particularly in areas tied to thinking, learning and creativity.
Concerns among Gen Z that AI may undermine skill development appear to be outweighing its perceived efficiency gains.
Fostering trust in AI among Gen Z will seemingly depend on demonstrating how AI can enhance rather than replace human talents.
http://www.capecharlesmirror.com/gen-zs ... nt-1095231
"Gen Z’s Increasing Skepticism of AI"
Wayne Creed
April 19, 2026
A new Gallup survey indicates that Gen Zers, or young people roughly ages 14 to 29, are feeling increasingly skeptical about AI.
Only 22% of young people said that they feel excited about AI, which is down from 36% last year, and only 18% of survey respondents feel hopeful about AI.
Some of this pessimism is likely due to concerns about job loss and economic disruption, especially for early-career workers.
WASHINGTON, D.C. — While a steady 51% of Gen Zers in the U.S. report using generative artificial intelligence at least weekly, negative emotions toward it have intensified over the past year.
Anger about the technology has risen, while excitement and hopefulness have dropped.
Even daily AI users, who generally hold more favorable views of AI, have not become more positive, according to a new survey by the Walton Family Foundation, GSV Ventures and Gallup.
Generation Z — those born between 1997 and 2012 and who are currently aged 14 to 29 — is not convinced that AI enhances creativity or critical thinking, and the majority believe it may come at a cost, particularly to learning.
Employed Gen Zers echo these concerns relative to the workplace, as more say the risks of AI outweigh its benefits, and trust in AI-assisted work is lower than in exclusively human output.
Meanwhile, about half of Gen Z K-12 students think they will need to know how to use AI in their postsecondary education or their future jobs.
Nearly three in five students believe they will be adequately prepared for daily AI use after high school.
These findings are from a web survey conducted Feb. 24-March 4, 2026, with a sample of 1,572 14‑ to 29‑year‑olds, using the probability-based Gallup Panel.
This is the latest research in the Voices of Gen Z study.
Gen Z’s AI Adoption Essentially Unchanged From 2025
Gen Z’s use of generative AI in everyday life has been largely stable since March 2025.
About half (51%) of 14- to 29-year-olds continue to say they use AI either daily (22%) or weekly (29%), while 11% report using it monthly, 20% every few months, and 19% say they never use it.
(Generative AI is defined for this study as technology capable of creating new content based on what you tell it to do, such as writing, brainstorming or creating images.)
Gen Z K-12 students (56%) are more likely than Gen Z adults (48%) to say they use AI at least weekly.
Negative Sentiment About AI Has Increased
Over the past year, Gen Z’s sentiment toward AI has become significantly more negative on three of the four emotions first measured in 2025.
Gen Zers’ strong agreement or agreement that they feel excited about AI has dropped 14 percentage points to 22%, while hopefulness has fallen nine points to 18%, and anger has increased nine points to 31%.
At the same time, anxiety about AI is steady at 42%.
Curiosity, which was added to the list of emotions in this year’s survey, is currently the most common, felt by 49% of Gen Zers.
Familiarity Associated With More-Positive Perceptions
Gen Zers’ feelings about AI are closely tied to how frequently they use it.
Among daily users, 69% report feeling curious, 44% excited and 38% hopeful about the technology.
This compares with 28% who are curious among those who never use AI, along with 4% excited and 2% hopeful.
Meanwhile, negative emotions about AI are far more prevalent among nonusers, with 60% reporting anxiety and 59% anger, compared with 28% and 18%, respectively, among daily users.
However, even daily users’ positivity has declined significantly over the past year.
Gen Zers who report using AI daily are less excited than they were last year (down 18 points) and less hopeful about it (down 11 points).
Their anxiety and anger about AI are statistically similar to last year’s levels.
Skepticism About AI’s Helpfulness Remains
Gen Zers are less inclined than they were in 2025 to believe AI improves efficiency in learning and completing tasks.
The 56% of Gen Z who now agree or strongly agree that AI tools can help expedite work is down 10 points from 2025, while agreement that AI can accelerate learning has fallen seven points, to 46%.
Similar proportions of Gen Zers believe AI will help (37% a little or a lot) or hurt (39% a little or a lot) their ability to search for accurate information, while about a quarter think it will do neither.
At the same time, more tend to believe the technology will be harmful rather than helpful to their abilities to come up with new ideas on their own (38% harmful, 31% helpful) or think carefully about information (42% harmful, 25% helpful).
Gen Zers are less optimistic today than last year that AI will enhance their creativity and research skills, with the percentages expecting it to help them down 11 and six points, respectively.
Gen Zers also question whether AI’s short-term conveniences come at the expense of their long-term development.
Eight in 10 Gen Zers say it is “very” (34%) or “somewhat” (46%) likely that using AI tools will make it more difficult for them to learn in the future.
Gen Z Workers Wary of AI’s Benefits
Employed Gen Zers are more than three times as likely to say the risks of AI in the workforce (48%) outweigh the potential benefits than to say the reverse (15%), while 37% view them as roughly equal.
This reflects a more negative outlook than a year ago, when 37% saw greater risks and 20% greater benefits.
Gen Z workers place more trust in work completed without AI (69%) than in AI-assisted work (28%).
Virtually no workers indicate greater trust in work produced solely by AI (3%).
These findings are similar to last year’s.
More Students Think They Will Need to Know How to Use AI, Expect to Be Ready
Fifty-two percent of Gen Z K-12 students (up from 47% in 2025) agree or strongly agree that they will need to know how to use AI if they go to college or take classes after high school.
Nearly as many, 48%, think they will need to know how to use AI in their future jobs or career, which is statistically similar to last year’s finding.
K-12 students’ confidence that they will be prepared for the future has increased, with 56% now saying they agree or strongly agree that they will have the skills needed to use AI in their daily lives after graduation from high school.
This is up 12 points since last year.
The share of K-12 students who report that their school has AI rules jumped from 51% in 2025 to 74% in 2026.
Access to AI tools from school computers rose from 36% to 49% over the same period.
Among students whose school has a policy, 65% are now permitted to use AI for schoolwork, up from 55% in 2025.
Still, only 28% of students say their school provides them with AI tools to use for their schoolwork.
Implications
Gen Z’s use of AI is mostly steady, but enthusiasm for it has declined while skepticism has climbed.
Gen Zers are more widely questioning AI’s effects on their cognitive skills, particularly in areas tied to thinking, learning and creativity.
Concerns among Gen Z that AI may undermine skill development appear to be outweighing its perceived efficiency gains.
Fostering trust in AI among Gen Z will seemingly depend on demonstrating how AI can enhance rather than replace human talents.
http://www.capecharlesmirror.com/gen-zs ... nt-1095231
Re: THE DAILY NEWS
RIGZONE
"Oil Gains as Supply Risks Persist"
by Bloomberg | M. Gindis, P. Burkhardt, C. Gorrivan, W. Kubzansky
Tuesday, April 28, 2026
Oil rose to the highest level since just before a ceasefire deal between the US and Iran, as traders await Washington’s response to a proposal from Tehran to end the war and potentially reopen the Strait of Hormuz.
Brent crude closed above $111 a barrel while West Texas Intermediate settled up 3.7% at just under $100 a barrel.
US President Donald Trump said in a social media post that Iran wants the US to remove its naval blockade of the crucial shipping route and reopen it "as soon as possible."
The closure by both the US and Iran has choked off flows of crude, natural gas and oil products, driving up energy prices and raising concerns about inflation.
Earlier in the day, prices briefly pared gains after the United Arab Emirates announced a surprise decision to exit OPEC and its wider alliance, OPEC+, as of May 1.
Traders took the move as a signal the country would be able to ramp up output freely once the Iran conflict is over.
"In the near term, paper markets will stay focused on Hormuz and the tightness in physical flows," said Salih Yilmaz, senior analyst at Bloomberg Intelligence.
"Only once the waterway reopens — and depending on how quickly the UAE ramps up output — would I expect attention to shift back to fundamentals."
Iran has signaled it may be willing to accept an interim deal to reopen the strait in exchange for an end to the blockade.
More complex negotiations over the country’s nuclear program would wait until later, and the Islamic Republic is insisting on keeping some control over shipping through Hormuz.
Mediators in Pakistan are expected to receive a revised proposal from Iran in the next few days to end the war, according to a CNN report, which cites sources close to the mediation process.
Washington also stepped up its economic pressure on Iran and parties connected to it on Tuesday, sanctioning 35 "entities and individuals that oversee Iran’s shadow banking architecture."
The Trump administration also warned banks of sanctions exposure related to China’s teapot refineries that may be importing Iranian oil.
Meanwhile, the UAE’s departure from the OPEC+ alliance further fragments the group and could have major ripple effects on the global oil market — especially if major producers like Saudi Arabia and Russia also increase output, according to David Oxley, chief commodities economist at Capital Economics.
"Ultimately, this could contribute to lower oil prices but higher oil market volatility over the coming decades," he added.
Still, a relatively subdued reaction to the historic development — with Brent briefly paring around $2 of gains before recovering — likely reflects the extreme tightness in physical markets, as stalled peace efforts force investors to price in a prolonged closure of the Strait of Hormuz.
Banks including Citigroup Inc. and Morgan Stanley once again raised their price forecasts this week in response to deepening global supply draws.
Prior to the announcement, oil was higher after US President Donald Trump convened a meeting to discuss Iran’s proposal to end the nine-week war, but maintained "red lines," including preventing Tehran from obtaining a nuclear weapon.
Two Iran-linked oil tankers that US forces interdicted near Sri Lanka last week as part of the blockade appear to have halted their westward course in the Indian Ocean and turned around.
The American cordon on shipping to and from Iranian ports started on April 13 in an attempt to squeeze Tehran’s oil revenue, and has turned away dozens of vessels.
US forces also boarded the M/V Blue Star III, a commercial ship, in the Arabian Sea earlier Tuesday before releasing the vessel.
Iran is rapidly running out of places to store its crude, raising the prospect it may be forced to cut output further, according to data analytics firm Kpler.
US Treasury Secretary Scott Bessent said in a social media post that the Iranian oil industry was "starting to shut in production" due to the blockade.
US Energy Secretary Chris Wright downplayed Iran’s ability to handle a production shutdown, telling Bloomberg TV on Tuesday its oil storage capacity is limited and its aging fields could be damaged if forced to turn off the taps.
But US consumers are also beginning to feel the war’s impacts.
Average retail gasoline prices rose to $4.18 a gallon on Monday, according to the American Automobile Association, the highest since the conflict began in February.
Oil Prices
WTI for June delivery rose 3.7% to settle at $99.93 a barrel.
Brent for June settlement rose 2.8% to settle at $111.26 a barrel.
The more-active July contract gained 2.66% to $104.40 a barrel.
https://www.rigzone.com/news/wire/oil_g ... 0-article/
"Oil Gains as Supply Risks Persist"
by Bloomberg | M. Gindis, P. Burkhardt, C. Gorrivan, W. Kubzansky
Tuesday, April 28, 2026
Oil rose to the highest level since just before a ceasefire deal between the US and Iran, as traders await Washington’s response to a proposal from Tehran to end the war and potentially reopen the Strait of Hormuz.
Brent crude closed above $111 a barrel while West Texas Intermediate settled up 3.7% at just under $100 a barrel.
US President Donald Trump said in a social media post that Iran wants the US to remove its naval blockade of the crucial shipping route and reopen it "as soon as possible."
The closure by both the US and Iran has choked off flows of crude, natural gas and oil products, driving up energy prices and raising concerns about inflation.
Earlier in the day, prices briefly pared gains after the United Arab Emirates announced a surprise decision to exit OPEC and its wider alliance, OPEC+, as of May 1.
Traders took the move as a signal the country would be able to ramp up output freely once the Iran conflict is over.
"In the near term, paper markets will stay focused on Hormuz and the tightness in physical flows," said Salih Yilmaz, senior analyst at Bloomberg Intelligence.
"Only once the waterway reopens — and depending on how quickly the UAE ramps up output — would I expect attention to shift back to fundamentals."
Iran has signaled it may be willing to accept an interim deal to reopen the strait in exchange for an end to the blockade.
More complex negotiations over the country’s nuclear program would wait until later, and the Islamic Republic is insisting on keeping some control over shipping through Hormuz.
Mediators in Pakistan are expected to receive a revised proposal from Iran in the next few days to end the war, according to a CNN report, which cites sources close to the mediation process.
Washington also stepped up its economic pressure on Iran and parties connected to it on Tuesday, sanctioning 35 "entities and individuals that oversee Iran’s shadow banking architecture."
The Trump administration also warned banks of sanctions exposure related to China’s teapot refineries that may be importing Iranian oil.
Meanwhile, the UAE’s departure from the OPEC+ alliance further fragments the group and could have major ripple effects on the global oil market — especially if major producers like Saudi Arabia and Russia also increase output, according to David Oxley, chief commodities economist at Capital Economics.
"Ultimately, this could contribute to lower oil prices but higher oil market volatility over the coming decades," he added.
Still, a relatively subdued reaction to the historic development — with Brent briefly paring around $2 of gains before recovering — likely reflects the extreme tightness in physical markets, as stalled peace efforts force investors to price in a prolonged closure of the Strait of Hormuz.
Banks including Citigroup Inc. and Morgan Stanley once again raised their price forecasts this week in response to deepening global supply draws.
Prior to the announcement, oil was higher after US President Donald Trump convened a meeting to discuss Iran’s proposal to end the nine-week war, but maintained "red lines," including preventing Tehran from obtaining a nuclear weapon.
Two Iran-linked oil tankers that US forces interdicted near Sri Lanka last week as part of the blockade appear to have halted their westward course in the Indian Ocean and turned around.
The American cordon on shipping to and from Iranian ports started on April 13 in an attempt to squeeze Tehran’s oil revenue, and has turned away dozens of vessels.
US forces also boarded the M/V Blue Star III, a commercial ship, in the Arabian Sea earlier Tuesday before releasing the vessel.
Iran is rapidly running out of places to store its crude, raising the prospect it may be forced to cut output further, according to data analytics firm Kpler.
US Treasury Secretary Scott Bessent said in a social media post that the Iranian oil industry was "starting to shut in production" due to the blockade.
US Energy Secretary Chris Wright downplayed Iran’s ability to handle a production shutdown, telling Bloomberg TV on Tuesday its oil storage capacity is limited and its aging fields could be damaged if forced to turn off the taps.
But US consumers are also beginning to feel the war’s impacts.
Average retail gasoline prices rose to $4.18 a gallon on Monday, according to the American Automobile Association, the highest since the conflict began in February.
Oil Prices
WTI for June delivery rose 3.7% to settle at $99.93 a barrel.
Brent for June settlement rose 2.8% to settle at $111.26 a barrel.
The more-active July contract gained 2.66% to $104.40 a barrel.
https://www.rigzone.com/news/wire/oil_g ... 0-article/
Re: THE DAILY NEWS
CNBC
"Treasury yields rise as U.S.-Iran peace talks hit an impasse"
Sean Conlon @SeanAustin96 Joseph Wilkins
Published Tue, Apr 28 2026
U.S. Treasury yields rose on Tuesday as investors awaited developments on negotiations between the U.S. and Iran, which hit an impasse over the weekend.
The yield on the 10-year U.S. Treasury note — the key benchmark for U.S. government borrowing — added 1 basis point to 4.346%.
The 2-year Treasury note yield, which more closely tracks short-term Federal Reserve interest rate policy, was more than 3 basis points higher at 3.836%.
One basis point is equal to 0.01%, and yields and prices move in opposite directions.
President Donald Trump and his national security team discussed Iran’s proposal to reopen the Strait of Hormuz if the U.S. lifts its blockade and the war ends, White House press secretary Karoline Leavitt confirmed on Monday.
The proposal would postpone negotiations on Tehran’s nuclear ambitions for a later date, Axios and The Associated Press reported.
It’s unclear whether Trump, who has vowed not to lift the blockade until a deal with Iran is “100% complete,” entertained the reported offer to end the two-month-old war.
Oil prices edged higher Tuesday as uncertainty lingered over the outcome of the war.
Bond investors are also be looking ahead to the Fed’s two-day monetary policy meeting that wraps up Wednesday, when outgoing Fed chair Jerome Powell and the Federal Open Market Committee are widely expected to keep interest rates on hold at their current 3.50% to 3.75%.
The European Central Bank (ECB) and Bank of England (BOE) are also due to hold pivotal meetings as the Iran war upends the outlook for inflation and economic growth.
The two central banks will both publish their latest monetary policy decisions on Thursday, with economists expecting both to leave their benchmark interest rates unchanged at their policy meetings this month, while leaving the door open to hikes later this year.
— CNBC’s Holly Ellyatt also contributed to this report.
https://www.cnbc.com/2026/04/28/treasur ... passe.html
"Treasury yields rise as U.S.-Iran peace talks hit an impasse"
Sean Conlon @SeanAustin96 Joseph Wilkins
Published Tue, Apr 28 2026
U.S. Treasury yields rose on Tuesday as investors awaited developments on negotiations between the U.S. and Iran, which hit an impasse over the weekend.
The yield on the 10-year U.S. Treasury note — the key benchmark for U.S. government borrowing — added 1 basis point to 4.346%.
The 2-year Treasury note yield, which more closely tracks short-term Federal Reserve interest rate policy, was more than 3 basis points higher at 3.836%.
One basis point is equal to 0.01%, and yields and prices move in opposite directions.
President Donald Trump and his national security team discussed Iran’s proposal to reopen the Strait of Hormuz if the U.S. lifts its blockade and the war ends, White House press secretary Karoline Leavitt confirmed on Monday.
The proposal would postpone negotiations on Tehran’s nuclear ambitions for a later date, Axios and The Associated Press reported.
It’s unclear whether Trump, who has vowed not to lift the blockade until a deal with Iran is “100% complete,” entertained the reported offer to end the two-month-old war.
Oil prices edged higher Tuesday as uncertainty lingered over the outcome of the war.
Bond investors are also be looking ahead to the Fed’s two-day monetary policy meeting that wraps up Wednesday, when outgoing Fed chair Jerome Powell and the Federal Open Market Committee are widely expected to keep interest rates on hold at their current 3.50% to 3.75%.
The European Central Bank (ECB) and Bank of England (BOE) are also due to hold pivotal meetings as the Iran war upends the outlook for inflation and economic growth.
The two central banks will both publish their latest monetary policy decisions on Thursday, with economists expecting both to leave their benchmark interest rates unchanged at their policy meetings this month, while leaving the door open to hikes later this year.
— CNBC’s Holly Ellyatt also contributed to this report.
https://www.cnbc.com/2026/04/28/treasur ... passe.html
Re: THE DAILY NEWS
REUTERS
"Nasdaq, S&P 500 end lower on renewed AI growth worries ahead of big tech earnings"
By Stephen Culp and Niket Nishant
April 28, 2026
Summary
* Indexes down: Nasdaq 0.90%, S&P 500 0.49%, Dow 0.05%
* Oracle, chip stocks fall after WSJ report on OpenAI
* UPS dips after Q1 profit drops
* General Motors gains after results
* Coca-Cola rises after lifting annual forecast
NEW YORK, April 28 (Reuters) - U.S. stocks closed lower on Tuesday, backing away from record closing highs as renewed concerns over the artificial intelligence boom weighed on technology stocks days before five of the sector's most high-profile companies were due to post quarterly results.
Semiconductor shares, which have surged over 40% so far this year, weighed particularly heavily on the Nasdaq, which suffered its biggest daily percentage loss in a month.
OpenAI for weekly users and revenue, raising concerns over the AI heavyweight's ability to support its massive spending on data centers, according to a report from the Wall Street Journal.
Shares of Oracle, whose reliance on OpenAI for its cloud computing ambitions has been under scrutiny, fell 4.1%.
Chip stocks also dropped, with Nvidia, AMD and Broadcom down between 1.6% and 4.4%.
Nvidia-backed CoreWeave slid 5.8%.
"(OpenAI) is giving investors more food for thought, whether the growth is slowing and what that means for capex spending," said Chuck Carlson, chief executive officer at Horizon Investment Services in Hammond, Indiana.
"You've got major hyperscalers coming out with results tomorrow, which probably gives investors even more reason to take a few chips off the table."
First-quarter earnings season shifts into overdrive this week, with five of the companies in the Magnificent Seven group of AI-related megacap firms expected to post results.
On Wednesday, Alphabet, Amazon, Meta Platforms and Microsoft are slated to report, with Apple on deck for Thursday.
The companies expected to report this week account for about 44% of the S&P 500's total market capitalization, according to Raymond James.
General Motors advanced 1.3% after the automaker beat quarterly profit estimates and lifted its full-year earnings forecast, boosted by a resilient U.S. car market and an expected tariff refund.
United Parcel Service shares dropped 4.0% after the package delivery company reiterated its full-year revenue target as spiking fuel costs offset underlying business improvement.
Coca-Cola rose 3.9% following its better-than-expected quarterly report.
The beverage giant played down the impact of high oil prices and raised its annual earnings target.
The Dow Jones Industrial Average fell 25.86 points, or 0.05%, to 49,141.93, the S&P 500 lost 35.11 points, or 0.49%, to 7,138.80 and the Nasdaq Composite lost 223.30 points, or 0.90%, to 24,663.80.
Of the 11 major sectors in the S&P 500, tech shares were down the most, while energy enjoyed the biggest percentage gain.
THE WAR, SOARING CRUDE PRICES, AND THE FED
The U.S. Federal Reserve has convened for what is likely to be Jerome Powell's last monetary policy meeting as chair of the central bank.
While the Fed is likely to leave its key interest rate unchanged on Wednesday, the accompanying statement and Powell's subsequent press conference will be parsed for policymakers' views on inflation risk related to the war-related energy price spike.
"We know that the Fed is effectively on hold," said Oliver Pursche, senior vice president at Wealthspire Advisors, in New York.
"If oil prices remain elevated, does that create an environment where energy-related inflation is not being viewed as transitory any longer, but rather as something that has a very much longer-term impact and might therefore force the Fed to raise rates?"
U.S. President Donald Trump said he is unhappy with Iran's latest peace proposal because it would delay negotiations on the nuclear issue, dampening optimism that the conflict, which has rattled world markets and sent energy prices soaring, could be close to resolution.
In another blow to oil-exporting countries, the United Arab Emirates announced on Tuesday it was withdrawing from OPEC.
Crude prices spiked, reviving inflation worries and contributing to risk-off sentiment.
Declining issues outnumbered advancers by a 1.66-to-1 ratio on the NYSE.
There were 179 new highs and 42 new lows on the NYSE.
On the Nasdaq, 1,707 stocks rose and 3,004 fell as declining issues outnumbered advancers by a 1.76-to-1 ratio.
The S&P 500 posted three new 52-week highs and 14 new lows while the Nasdaq Composite recorded 104 new highs and 95 new lows.
Volume on U.S. exchanges was 15.48 billion shares, compared with the 18.11 billion average for the full session over the last 20 trading days.
Reporting by Stephen Culp; Additional reporting by Niket Nishant and Utkarsh Hathi in Bengaluru; Editing by Aurora Ellis
https://www.reuters.com/business/us-sto ... 026-04-28/
"Nasdaq, S&P 500 end lower on renewed AI growth worries ahead of big tech earnings"
By Stephen Culp and Niket Nishant
April 28, 2026
Summary
* Indexes down: Nasdaq 0.90%, S&P 500 0.49%, Dow 0.05%
* Oracle, chip stocks fall after WSJ report on OpenAI
* UPS dips after Q1 profit drops
* General Motors gains after results
* Coca-Cola rises after lifting annual forecast
NEW YORK, April 28 (Reuters) - U.S. stocks closed lower on Tuesday, backing away from record closing highs as renewed concerns over the artificial intelligence boom weighed on technology stocks days before five of the sector's most high-profile companies were due to post quarterly results.
Semiconductor shares, which have surged over 40% so far this year, weighed particularly heavily on the Nasdaq, which suffered its biggest daily percentage loss in a month.
OpenAI for weekly users and revenue, raising concerns over the AI heavyweight's ability to support its massive spending on data centers, according to a report from the Wall Street Journal.
Shares of Oracle, whose reliance on OpenAI for its cloud computing ambitions has been under scrutiny, fell 4.1%.
Chip stocks also dropped, with Nvidia, AMD and Broadcom down between 1.6% and 4.4%.
Nvidia-backed CoreWeave slid 5.8%.
"(OpenAI) is giving investors more food for thought, whether the growth is slowing and what that means for capex spending," said Chuck Carlson, chief executive officer at Horizon Investment Services in Hammond, Indiana.
"You've got major hyperscalers coming out with results tomorrow, which probably gives investors even more reason to take a few chips off the table."
First-quarter earnings season shifts into overdrive this week, with five of the companies in the Magnificent Seven group of AI-related megacap firms expected to post results.
On Wednesday, Alphabet, Amazon, Meta Platforms and Microsoft are slated to report, with Apple on deck for Thursday.
The companies expected to report this week account for about 44% of the S&P 500's total market capitalization, according to Raymond James.
General Motors advanced 1.3% after the automaker beat quarterly profit estimates and lifted its full-year earnings forecast, boosted by a resilient U.S. car market and an expected tariff refund.
United Parcel Service shares dropped 4.0% after the package delivery company reiterated its full-year revenue target as spiking fuel costs offset underlying business improvement.
Coca-Cola rose 3.9% following its better-than-expected quarterly report.
The beverage giant played down the impact of high oil prices and raised its annual earnings target.
The Dow Jones Industrial Average fell 25.86 points, or 0.05%, to 49,141.93, the S&P 500 lost 35.11 points, or 0.49%, to 7,138.80 and the Nasdaq Composite lost 223.30 points, or 0.90%, to 24,663.80.
Of the 11 major sectors in the S&P 500, tech shares were down the most, while energy enjoyed the biggest percentage gain.
THE WAR, SOARING CRUDE PRICES, AND THE FED
The U.S. Federal Reserve has convened for what is likely to be Jerome Powell's last monetary policy meeting as chair of the central bank.
While the Fed is likely to leave its key interest rate unchanged on Wednesday, the accompanying statement and Powell's subsequent press conference will be parsed for policymakers' views on inflation risk related to the war-related energy price spike.
"We know that the Fed is effectively on hold," said Oliver Pursche, senior vice president at Wealthspire Advisors, in New York.
"If oil prices remain elevated, does that create an environment where energy-related inflation is not being viewed as transitory any longer, but rather as something that has a very much longer-term impact and might therefore force the Fed to raise rates?"
U.S. President Donald Trump said he is unhappy with Iran's latest peace proposal because it would delay negotiations on the nuclear issue, dampening optimism that the conflict, which has rattled world markets and sent energy prices soaring, could be close to resolution.
In another blow to oil-exporting countries, the United Arab Emirates announced on Tuesday it was withdrawing from OPEC.
Crude prices spiked, reviving inflation worries and contributing to risk-off sentiment.
Declining issues outnumbered advancers by a 1.66-to-1 ratio on the NYSE.
There were 179 new highs and 42 new lows on the NYSE.
On the Nasdaq, 1,707 stocks rose and 3,004 fell as declining issues outnumbered advancers by a 1.76-to-1 ratio.
The S&P 500 posted three new 52-week highs and 14 new lows while the Nasdaq Composite recorded 104 new highs and 95 new lows.
Volume on U.S. exchanges was 15.48 billion shares, compared with the 18.11 billion average for the full session over the last 20 trading days.
Reporting by Stephen Culp; Additional reporting by Niket Nishant and Utkarsh Hathi in Bengaluru; Editing by Aurora Ellis
https://www.reuters.com/business/us-sto ... 026-04-28/