Chevron (NYSE:CVX) reported first-quarter 2026 earnings of $2.2 billion, or $1.11 per diluted share, as the company navigated a complex landscape of rising operational output and non-recurring financial charges.
US President Donald Trump has vowed to maintain a naval blockade on Iran, reiterating that the policy is depriving the Islamic Republic of much-needed oil revenue. West Texas Intermediate, the main US crude marker, rallied toward $111 a barrel on Thursday, while Brent, the global benchmark, topped $126. Iran's Supreme Leader Mojtaba Khamenei cast doubt on the prospects of a deal, vowing not to give up the Islamic Republic's nuclear or missile technologies, and signaling Tehran would keep control of the Strait of Hormuz. The American Automobile Association says in California, the average statewide price for regular gasoline rose to $6.01, the highest since October 2023. Skyrocketing pump prices are a major political risk for President Donald Trump's White House, especially ahead of the midterm elections. Bloomberg's Charlie Wells explains on "The Pulse with Francine Lacqua."
Seema Shah, chief global strategist at Principal Asset Management, says earnings suggest there isn't as much exposure to the conflict with Iran as expected and sees US markets being able to keep the impacts "quite contained."
Magna International (NYSE:MGA) delivered a strong operational performance for the first quarter of 2026, characterized by significant margin expansion and robust cash returns to shareholders.
Bruce Richards, Marathon Asset Management CEO, co-founder and chairman, says the US economy is "in good shape." Speaking on Bloomberg Television, he adds that consumer consumption looks "rock solid." Richards also discusses the impact prolonged elevated oil prices could have on the economic situation and growth.
Cheng Li-wun confirms Beijing's positive response to her planned US visit and calls Trump "unpredictable," emphasizing peace and free trade as paramount for Taiwan. She clarifies KMT's defense spending stance, rejecting "blank checks" for the DPP while supporting US arms purchases, also comments on Japan PM Takaichi's "provocative" remarks on Taiwan.
Cheng Li-wun confirms Beijing's positive response to her planned US visit and calls Trump "unpredictable," emphasizing peace and free trade as paramount for Taiwan. She clarifies KMT's defense spending stance, rejecting "blank checks" for the DPP while supporting US arms purchases, also comments on Japan PM Takaichi's "provocative" remarks on Taiwan.
Guy Johnson, Tom Mackenzie and Adam Linton break down today's key themes for analysts and investors on "Bloomberg: The Opening Trade."
Apple delivered a strong revenue forecast for the third quarter, with sales expected to rise 14% to 17% in the period. The company warned that memory-chip costs will increase and that shortages of Mac computers will persist for "several months." Bloomberg Intelligence's Matthew Bloxham breaks down the situation.
Battery materials provider NOVONIX Limited (NASDAQ: NVX, ASX:NVX) has officially completed the sale of its Battery Technology Solutions (BTS) division.
ResMed Inc. (NYSE: RMD, ASX: RMD) has released its financial results for the third quarter of fiscal year 2026, reporting an 11 per cent increase in revenue to $1.4 billion.
