amazo

Summary of the key global economic news Friday, May 1, 2026*:

*1. Oil and the Strait of Hormuz - the biggest news*
- *Brent above $110 per barrel* due to the US-Iran war and the closure of the Strait of Hormuz
- *World Bank*: "The largest oil supply shock ever" and expects energy prices to rise 24% in 2026
- *OPEC Plus*: considering increasing production by 188,000 barrels per day despite the crisis

*2. Central Banks*
- *The Fed held rates steady on Wednesday* in the last meeting with Jerome Powell. Rising oil pressures keep rates high
- *Kevin Warsh*, Trump's nominee to replace Powell, Senate vote coming soon

*3. Tech Stocks*
- *Apple*: stock jumped 3% after the strongest quarterly sales growth in 4 years
- *SpaceX*: spent $15 billion on the Starship rocket and plans to launch Starlink V3 satellites by the end of 2026

*4. Companies and Energy*
- *Chevron*: profits exceeded expectations due to high oil prices, but the refining sector lost $817 million
- *Estée Lauder*: $3.71 billion in sales exceeded expectations, but it raises its layoff plan to 10,000 employees

*5. Inflation and Markets*
- *Inflation is accelerating in Germany* due to energy prices and the Iran war
- *Gold fell 2%* with a strong dollar despite 2% growth in global demand
- *Emerging market debts* reached critical levels due to the war

*The bottom line*: Oil above $110 due to Hormuz driving everything today, the Fed holds rates, and Apple saves tech stocks.
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