Finance

Saudi Aramco has reported a 26% year-over-year jump in first-quarter 2026 profits, far exceeding market expectations amid the escalating Middle East conflict. AP News reports that the key driver of Aramco’s profit surge is its successful pivot from the Strait of Hormuz to the East-West Pipeline. The pipeline has been ramped up to full capacity, enabling Saudi Arabia to continue exporting crude to global markets despite the strait closure. CNBC notes that Aramco’s CEO emphasized the company’s ability to navigate the current geopolitical situation and the effectiveness of its diversified export strategy. The performance underscores Saudi Arabia’s pivotal position in the global energy market. ...

China reported record-high export and import figures for April, with the trade surplus widening further, signaling economic resilience despite tariff headwinds.

Intel’s stock has achieved a never-before-seen milestone, with market enthusiasm around Apple partnerships driving investor confidence. Source: Google News

The S&P 500 closed at another record high, posting its longest weekly winning streak since 2021, as market confidence continues to recover. Source: Google News

Trump’s Latest Tariff Setback Looms Over China Trade Talks President Trump’s tariff agenda suffered another legal setback as a court ruling limits the scope of executive tariff authority. The decision casts uncertainty over upcoming US-China trade negotiations, potentially reshaping the balance of power in trade policy. Analysts say the ruling could fundamentally alter the landscape of US trade policy decision-making, weakening the executive branch’s ability to act unilaterally on trade matters. For upcoming China-US economic negotiations, this legal variable may affect both sides’ strategies and expectations. ...

President Donald Trump stated that the ceasefire agreement with Iran remains intact despite a recent exchange of fire between US and Iranian forces in the Strait of Hormuz. The incident has drawn international attention, with Iran’s Foreign Minister Abbas Araghchi accusing the United States of engaging in a “reckless military adventure.” Araghchi claimed that the US launches attacks whenever a diplomatic solution appears within reach. According to The Washington Post, Washington continues to hope for a “serious offer” from Tehran to advance the peace process. Secretary of State Marco Rubio, attending NATO meetings in Rome, echoed this sentiment while acknowledging that President Trump’s verbal criticisms of Iran may persist. ...

US payrolls rose more than expected in April, though the pace of hiring showed signs of deceleration compared to previous months. The April jobs report added complexity to the Federal Reserve’s interest rate outlook. While the labor market remains resilient, the moderation in hiring growth could influence the Fed’s policy decisions in coming months. Economists noted that the report suggests a labor market that is cooling but not collapsing, a scenario often described as a “soft landing” for the economy. ...

European Central Bank President Christine Lagarde has warned that Europe should not simply replicate the US approach to stablecoins when developing a digital euro. Lagarde cautioned that large stablecoins such as Tether and USDC, which now dominate a $310 billion market, pose potential financial stability risks. She argued that these assets could transmit shocks across the financial system if not properly regulated. The ECB President emphasized that Europe’s approach to digital currency should prioritize financial stability and regulatory oversight, rather than following the more laissez-faire model that has developed in the United States. ...

The S&P 500 index hit a fresh all-time high, marking its sixth consecutive weekly gain, driven by better-than-expected April jobs data and optimism around US-Iran peace talks.

The US Labor Department reported 115,000 new nonfarm jobs in April, nearly double market forecasts, though wage growth slowdown eased inflation concerns.