Good morning investors! Earnings season is in full swing as big names will report today.
Today we cover:
UAE out of OPEC.
Big names report.
OpenAI disappoints?
📊 Economy and News
UAE to Exit OPEC and OPEC+ Starting May 1
The United Arab Emirates will leave OPEC and OPEC+ effective May 1, according to state-run news agency WAM.
The UAE Energy Minister described the move as a "sovereign national decision" based on the country’s long-term strategic and economic vision. He noted that global energy demand is expected to rise significantly in the coming years.
The decision will allow the UAE to gradually increase oil production and work more flexibly with international partners and investors to meet future demand for crude, petrochemicals, and gas. The minister emphasized that ADNOC is now a global player operating across the entire value chain.
The exit comes amid previous tensions, including criticism that fellow Arab states failed to adequately support the UAE during regional conflicts.
This development could weaken OPEC’s unity as the group already struggles with internal disagreements over production quotas and geopolitics.
Crude oil prices jumped following the announcement, with both Brent and WTI briefly topping $100 per barrel.
Global hits:
India’s March industrial output slows to 5‑month low of 4.1% on manufacturing, power drag.
Chile’s central bank holds benchmark rate, warns of risk from Middle East war.
US and Croatia sign protocol amending income tax treaty.
Poland forecasts GDP growth of 3.6% in 2026.
Reminder: US Treasury seven-year notes auction concludes with 4.175% yield. In related news, Jamie Dimon warns of ‘some kind of bond crisis’ ahead as global debt risks build.
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📈 Stocks
S&P 500 7,138.80 (-0.497%)
DJIA 49,141.93 (-0.053%)
NASDAQ 24,663.80 (-0.90%)
BRENT CRUDE 111.3 (+2.80%)
* Prices as of Apr 29th, 12:20 AM UTC
Starbucks, Visa, and More Report
Some major names announced earnings yesterday:
Starbucks reported its second straight quarter of traffic growth. The coffee chain said it was raising its full-year outlook for comparable earnings and same-store sales growth. Starbucks’ global same-store sales, which only includes cafes open at least a year, increased 6.2%, fueled by more visits to its locations. North America, the company’s home market, drove most of the quarter’s same-store sales growth. U.S. same-store sales climbed 7.1%, driven by a 4.3% jump in transactions. The report sent the stock up 5% after the bell.
Visa climbed 4.1% in after-hours, boosted by better-than-expected fiscal Q2 numbers and the rollout of a fresh $20 billion buyback program. Payments volume climbed 9%, with processed transactions—those run through the company’s network—also up 9% to 66.1 billion. Total cross-border volume increased 12%. Strip out Europe-only activity, and cross-border volume rose 11%. For the third quarter, it’s looking for net revenue growth in the low double digits. On an adjusted constant-dollar basis, the company is targeting low double-digit to low-teens revenue growth for the full year, and adjusted EPS climbing in the low teens.
Airbus reported quarterly profits that halved from a year ago, as deliveries of its best-selling aircraft slowed. On an adjusted basis, operating profit declined by 52% to 300 million euros, down from 624 million euros in the same period last year and far below FactSet expectations of 378 million euros. Airbus reiterated the guidance it issued in mid-February to deliver 870 commercial aircraft in 2026, fewer than the roughly 880 analysts had expected, citing engine shortages due to issues with one of its suppliers, Pratt & Whitney. The guidance doesn’t assume any additional disruptions to global trade, air traffic, or supply chain.
Spotify fell over 13%, as soft guidance overshadowed an earnings beat. For the current quarter, Spotify expects to add 17 million net users to reach 778 million MAUs. It expects to grow its premium subscribers by 6 million to 299 million. While second-quarter MAU guidance was slightly above Wall Street’s expectations, net premium subscribers had been expected to grow to just over 300.4 million.
Coca-Cola reported quarterly earnings and revenue that topped Wall Street’s expectations. The beverage company also raised its full-year outlook for its earnings. All of Coke’s operating segments reported volume growth for the quarter, including its home market. The company’s volume in North America increased 4%.
BP reported stronger-than-expected first-quarter earnings, citing “exceptional” oil trading contributions. The results come as energy supermajors experience a significant share price boost, with fossil fuel prices soaring amid the Iran war. BP said it expects reported upstream production to be lower in the second quarter when compared to the first three months of the year.
OpenAI failing? Shares of companies tied to artificial intelligence infrastructure fell Tuesday after a report revealed OpenAI has missed internal growth targets, raising doubts about the sustainability of heavy sector spending.
Oracle, which has a $300 billion five-year deal to provide computing power to OpenAI, plunged 4%. Chipmakers Broadcom and Advanced Micro Devices dropped 4% and 3%, respectively, while Nvidia fell over 1%.
CoreWeave, a leveraged AI cloud provider, tumbled more than 5%. In Asia, OpenAI investor SoftBank Group sank around 10%.
According to the report, OpenAI’s finance chief warned that without faster revenue growth, the company may struggle to fund future compute deals.
OpenAI pushed back strongly, stating: “This is ridiculous. We are totally aligned on buying as much compute as we can and working hard on it together every day.”
Surprising: OpenAI brings its models to Amazon’s cloud after ending exclusivity with Microsoft. Elsewhere, China blocks Meta’s acquisition of Chinese-founded AI startup Manus.
💵 Personal Finance
Why Women Often Outperform Men in Investing
Women tend to be more “risk-appropriate” investors, favoring a steady buy-and-hold strategy over frequent trading, according to experts.
This approach has helped them weather periods of high market volatility — such as the recent swings triggered by the war with Iran — and deliver stronger long-term returns.
Research from Fidelity Investments shows that women investors outperform men by an average of 40 basis points. A McKinsey study also found that women generally prefer stable, long-term investments and take a more cautious, analytical approach.
Experts say women are often better savers and tend to stick to their financial plans rather than chasing short-term gains. As women are projected to control two-thirds of U.S. private wealth by 2030, their disciplined investing style is proving increasingly successful.
💰 Be a Better Investor
“The market can stay irrational longer than you can stay solvent.”
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