Bloomberg — 2026-04-30#

Lead Story#

Big tech earnings stole the spotlight as Alphabet added a historic amount to its market capitalization and Amazon proved the payoff of its artificial intelligence investments, helping push the S&P 500 to another record. The blockbuster results, alongside Apple beating estimates, overshadowed Meta’s spending-induced plunge and demonstrated that the AI growth engine is powering the US economy through war-driven inflation headwinds. This corporate resilience was echoed by macroeconomic data showing US gross domestic product grew an annualized 2% in the first quarter, driven by solid business and consumer demand.

Markets & Economics#

• Oil Hits Four-Year High as US Weighs Iran Military Options: Brent crude surged past $120 a barrel after reports that US President Donald Trump will be briefed on fresh military options against Iran, as the market prices in a prolonged disruption to the Strait of Hormuz.
• ECB and BOE Hold Rates Steady Amid War Fallout: The European Central Bank kept rates at 2% while the Bank of England held at 3.75%, with both central banks buying time to assess the stagflationary shock and energy turmoil stemming from the Middle East.
• Japan Issues ‘Final Warning’ on Yen Before Intervention: Top currency officials delivered their strongest threat yet to speculators as the yen weakened to levels unseen since Japan’s 2024 interventions, ultimately helping the currency rebound against the dollar.
• US Economy Stays Resilient as Jobless Claims Plunge: Beyond the 2% GDP print, applications for US unemployment benefits fell to 189,000—the lowest since 1969—signaling that job-cut announcements haven’t yet translated into actual layoffs.

Business & Industries#

• AvalonBay, Equity Residential Explore $50 Billion Tie-Up: The two top US apartment owners are discussing a massive combination that could drastically reshape the residential real estate market, raising immediate antitrust and political scrutiny.
• Meta Taps Bond Market Following AI Spending Backlash: After its shares suffered their steepest drop in six months due to a $125 billion to $145 billion capital expenditure outlook, Meta is returning to the investment-grade bond market to fund its data center and AI buildout.
• Novo-Backed Avalyn Pharma Soars 44% in Trading Debut: The biopharmaceutical company, focused on inhaled treatments for rare lung diseases, jumped sharply after raising $300 million in an upsized US initial public offering.
• Unilever to Raise Detergent Prices on Iran War Costs: The consumer goods giant warned it will likely increase prices for cleaning sprays and laundry detergents in emerging markets to offset rising supply chain and energy costs linked to the conflict.

Policy & World#

• House Votes to End Record DHS Shutdown: The 74-day partial shutdown of the Department of Homeland Security is nearing a close after the House passed funding, narrowly avoiding missed paychecks for TSA workers and a second bout of airport chaos.
• Iran’s New Supreme Leader Pledges to Guard Nuclear Tech: In a rare statement, Iran’s newly installed leader vowed not to surrender the nation’s nuclear or missile technologies and signaled Tehran would maintain its grip on the blockaded Strait of Hormuz.
• US Senate Bans Members From Trading on Prediction Markets: The Senate voted unanimously to prohibit lawmakers and staff from using fast-growing prediction platforms, addressing insider trading concerns after a soldier was accused of profiting from classified information.

Opinion & Analysis#

• The UAE Is Preparing for a Post-Oil World: Bloomberg Opinion explores the strategic rationale behind the United Arab Emirates’ surprising exit from OPEC, arguing the move effectively destroys the cartel but allows the UAE to nimbly navigate the energy crisis and secure its financial future.
• Kevin Warsh Has No Good Reason to Lower Rates: With prospective Fed Chair Kevin Warsh facing relentless White House pressure to cut rates, he keeps coming up with new justifications for easing—despite resilient economic data suggesting the cuts are entirely unwarranted.