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Week in Review: OPEC minus one May 02, 2026

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The UAE announced it is pulling out of OPEC, a move that analysts say could complicate the group's ability to manage production quotas. The Fed held rates but recorded its biggest board dissent since 1992, with Powell announcing he'll stay on as governor and warning against what he called a "battering" of Fed independence. The Bank of England and ECB signaled they could hike as soon as June, though bond yields fell as markets scaled back their most aggressive rate expectations. And Tech earnings powered Wall Street to its best month since 2020, with the four largest tech companies committing more than $700 billion to AI infrastructure.

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Yen jolt May 01, 2026

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With Japanese markets on holiday and liquidity thin, the yen jumps sharply on what sources suggest may be a second round of official buying. Central banks in Europe lean hawkish despite stagflation concerns, while Apple's earnings beat is tempered by Tim Cook's warning that iPhone prices could rise due to chip shortages.

Today’s recommended read: The UAE dumping OPEC may not affect crude as anticipated, by Clyde Russell

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Produced by Eliza Davis Beard, Ethan Plotkin and Abisoye Adelusi

Sound engineering and music by Sebastian and Josh Sommer

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Powell era ends, hawks rise Apr 30, 2026

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U.S. President Donald Trump suggested the Iran blockade could last months, sending Brent crude to its highest level since the war began and feeding U.S. inflation expectations. Jerome Powell confirmed he will remain on the Federal Reserve board after his term as chair ends May 15, a move that blocks Trump from immediately filling his seat. Plus, Meta slid around 7% on rising CapEx concerns, while Alphabet surged roughly 7% on the strength of its cloud business.

Today’s recommended read: Iran war stasis brings US inflation expectations back to the boil, Mike Dolan

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Produced by Eliza Davis Beard, Ethan Plotkin and Abisoye Adelusi

Sound engineering and music by Sebastian and Josh Sommer

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OPEC fractures Apr 29, 2026

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OPEC loses its fourth-biggest producer. Jerome Powell prepares to chair what is almost certainly his final Federal Reserve policy meeting with inflation ticking back up. And a quiet Wall Street Journal report about OpenAI missing targets is rattling the entire AI trade - right before Amazon, Apple, Microsoft, and Meta report after the bell.

Today’s recommended read: Transatlantic rate convergence may be a mirage, Mike Dolan

Subscribe to Mike Dolan's Morning Bid ⁠newsletter,⁠ and check out his columns on ⁠Reuters Open Interest⁠

Produced by Eliza Davis Beard, Ethan Plotkin and Abisoye Adelusi

Sound engineering and music by Sebastian and Josh Sommer

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Yen and bear it Apr 28, 2026

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A rare split vote at the BOJ sharpens the debate over Japan’s next rate move, even as the yen struggles to rally. Oil holds above $100 with the Iran conflict frozen, while tech stocks power ahead into a pivotal earnings week.

Today’s recommended read: 'See through' Iran war? Markets exploit permacrisis instead, Mike Dolan

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Produced by Eliza Davis Beard, Ethan Plotkin and Abisoye Adelusi

Sound engineering and music by Sebastian and Josh Sommer

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The Powell hour Apr 27, 2026

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Federal Reserve Chair Jerome Powell heads into what could be his last meeting as Fed chair as oil tops $100 and Wall Street seems unfazed by geopolitical tension. AI‑linked stocks lead global markets higher ahead of a big week for tech earnings.

Today’s recommended read: Iran war hands OPEC's swing producer crown to America, Ron Bousso

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Produced by Eliza Davis Beard, Ethan Plotkin and Abisoye Adelusi

Sound engineering and music by Sebastian and Josh Sommer

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Week Ahead: The Fed is watching inflation Apr 26, 2026

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Central banks take the spotlight this week, with U.S. inflation data set to test expectations for rate cuts. Plus a look ahead to key mega‑cap earnings.

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Produced by Eliza Davis Beard, Ethan Plotkin, and Abisoye Adelusi

Sound engineering and music by Sebastian and Josh Sommer

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Week in Review: Talking about Kevin Apr 25, 2026

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Kevin Warsh’s confirmation hearings put a spotlight on the future of the Fed. SpaceX’s IPO filing shows Elon Musk retaining control of the rocket maker. Plus, DeepSeek’s latest model shows China’s growing self-sufficiency in AI.

Subscribe to Mike Dolan's Morning Bid newsletter, and check out his columns on Reuters Open Interest.

Produced by Eliza Davis Beard, Ethan Plotkin, and Abisoye Adelusi.

Sound engineering and music by Sebastian and Josh Sommer

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Stocks over shocks Apr 24, 2026

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Oil prices climb again after U.S. President Donald Trump warns Iran over the Strait of Hormuz. But stocks keep rallying, helped by upbeat AI earnings from Intel.

Today’s recommended read: Japan fiscal experiment is lab test for Treasuries, Mike Dolan

Subscribe to Mike Dolan's Morning Bid newsletter, and check out his columns on Reuters Open Interest.

Produced by Eliza Davis Beard, Ethan Plotkin, and Abisoye Adelusi

Sound engineering and music by Sebastian and Josh Sommer

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Tech, against the odds Apr 23, 2026

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Oil prices are climbing and geopolitics are getting worse, but markets keep clinging to tech. Tesla’s shares pop on positive cash flow, then slip on higher spending plans, raising the question of how long tech optimism can outweigh rising energy costs and global risk.

Today’s recommended read: A Warsh-led Fed's 2% inflation goal might be a different 2%, by Mike Dolan

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