WS #6269
No material new developments in the last 30 minutes. The UAE OPEC exit, Japan FX intervention, and earnings reports remain the dominant signals, but no new data points or counter-signals have emerged to alter the previous narrative.
Key developments
- UAE leaves OPEC over quota dispute, largest shock in OPEC history
- Japan intervenes in FX market, yen briefly strengthens from 160 to 155
- Alphabet Q1 beats with record operating margin of 36%, stock surges
- Meta Q1 misses on user numbers, high AI spending, stock plunges 9%
- US Q1 GDP grows 2.0% vs 2.3% est, jobless claims hit 57-year low
- Caterpillar beats Q1 estimates, shares hit 52-week high despite tariff headwinds
- Microsoft Q3 sales guidance below estimates, shares fall
- Novo Nordisk shares jump 6% on FDA proposal to limit weight-loss drug compounding