Fed poised to pause as oil surge - 29 April 2026

As of April 29, today’s news features the anticipated Federal Reserve meeting and Prysmian's upcoming results report. Prysmian is set to report its financial results tomorrow, with analysts expecting significant figures for the first quarter, including an adjusted EBITDA estimate of 604.8 million euros, according to Bloomberg Consensus. Meanwhile, the Federal Reserve is widely expected to hold interest rates steady in what may be Jerome Powell's last meeting as the head of the U.S. central bank, due to inflationary pressures exacerbated by high oil prices linked to the ongoing conflict in Iran. With global oil prices exceeding 110 dollars a barrel following disruptions in the Strait of Hormuz, there is growing concern among policymakers about the potential for a prolonged rise in inflation, complicating future monetary policy. Among key industry competitors, Nexans saw its price target raised to 172 euros by Berenberg, reflecting a positive outlook for the company. Turning to market news, TotalEnergies experienced a substantial 29% jump in first-quarter earnings due to elevated oil prices related to the Iran conflict, prompting a dividend hike of 5.9% and an increase in share buybacks. Meanwhile, Kone agreed to acquire TK Elevator for 29.4 billion euros, marking one of Europe’s largest private equity exits, which poses significant implications for the competitive landscape in the vertical transportation market. In the technology sector, demand for Huawei's AI chips has surged following the launch of the DeepSeek's V4 model, with major Chinese internet firms scrambling to secure orders for the Ascend 950 AI chips. This could signal ongoing innovation and competition in the AI and cloud computing markets. From the international front, President Trump has urged Iran to reach a deal amidst reports of a potential extension of the U.S. blockade of Iran's ports, as the conflict continues to impact global energy dynamics. German Chancellor Friedrich Merz criticized U.S. negotiations with Iran, reflecting broader frustrations among European leaders regarding the ongoing crisis.