Amazon reported Q1 2026 revenue of $181.5 billion, beating Wall Street expectations. AWS cloud unit grew 28%, marking a 15-quarter high. Stock slides after hours on rising AI spending concerns.
Meta reported Q1 2026 revenue of $42.3 billion, up 33% year-over-year, with net income of $26.8 billion. However, the company raised full-year AI capital expenditure guidance to $125-145 billion, sparking investor concern and sending shares down over 6% after hours.
Brent crude briefly hits $119 per barrel as reports emerge of US plans to extend the blockade on Iranian ports.
Microsoft, Amazon, Google and Meta all report Q1 earnings. Copilot reaches 20M paid seats, AWS revenue grows 28% to $37.6B, but massive AI spending raises investor concerns.
Federal Reserve Chair Jerome Powell announced he will continue to serve as a Fed governor after his chair term expires in May, thwarting President Trump’s plan to appoint a new board member and triggering a new institutional showdown in Washington.
International oil prices surge over 5% to $117 per barrel following reports that Trump has instructed aides to prepare for an extended Iranian blockade of the Strait of Hormuz.
As Fed Chair Jerome Powell prepares to step down and Trump’s nominee Kevin Warsh takes over, a look back at the most fractious public clashes between two of America’s most important economic figures — from ’numbskull’ to ’too stupid’ personal attacks.
Brent crude briefly broke above $120 per barrel, reaching a wartime high after Trump rejected Iran’s latest ceasefire proposal and announced an extended blockade, sending global energy markets into turmoil.
The UAE’s plan to leave OPEC is being viewed as a major blow to the organisation, with one analyst calling it ’the beginning of the end of OPEC.’ We break down how OPEC influences oil prices and what the UAE’s departure could mean.
Brent crude oil surged to $119 a barrel on Wednesday, up nearly 7%, as reports emerged that the US is preparing to extend its blockade of Iranian ports, while Tehran threatens to continue disrupting shipping through the Strait of Hormuz.