UAE Exits OPEC as Spotify Crashes 13% and S&P 500 Retreats from Record

On today's episode of Market Brief – After Hours, the UAE confirmed it is leaving OPEC effective May 1st in a seismic shift for global energy markets, sending WTI racing to $99.93 and Brent surging above $111 as stalled US-Iran talks added further pressure. The S&P 500 retreated from its recent record high and the Nasdaq fell nearly 1% as semiconductor and AI stocks sold off sharply, while Spotify crashed 13% on weak profit guidance and SoftBank tumbled nearly 10% after the Bank of Japan held rates in a split 6-3 vote. Centene surged 14% on a raised earnings forecast and Coca-Cola rallied 4% to cushion the Dow. We break down the full picture across global equities, oil, EUR/USD, GBP/USD, USD/CHF, gold, and silver. Hosted on Acast. See acast.com/privacy for more information.