A cargo ship sails on the sea on April 28, 2026 on Qeshm Island, Iran, in the Strait of Hormuz.
Asghar Becharati | Getty Images
Hello, this is Anniek Bao writing to you from Singapore. Welcome to another edition of CNBC’s Daily Open.
The weekend brought headlines in the Middle East: a move by Trump in Hormuz, a further increase in OPEC+ production and the faintest signals of peace talks.
The markets, for the most part, welcomed them with a yawn. After weeks of discussions on all the developments coming from Tehran and Washington, investors seem to have accepted the impasse.
Against this backdrop, this week’s earnings slate, packed with European heavyweights, will likely be the catalyst that moves the market as Gulf concerns appear to have been priced in.
What you need to know todayUS President Donald Trump announcement “Freedom Project” Sunday, an operation framed around America aimed at freeing stranded cargo ships belonging to countries not parties to the Middle East conflict.
Oil markets were not very impressed by “Project Freedom”, with Brent crude for July delivery slips 0.60% to $107.49 a barrel, while U.S. West Texas Intermediate Futures for June fell 0.86% to $101.07 a barrel in choppy trading.
As geopolitical developments indicate an impasse, corporate results have taken center stage. Strong first-quarter earnings and residual optimism on the diplomatic exit path have pushed stocks to new record highs in recent days.
The South Korean Kospi extended this race until a new absolute record Monday, supported by the resilience of the country’s technology and export sectors. Other indices in the Asia-Pacific region were mostly higher.
Germany The DAX slipped at the openafter recording its best month since January last year. Pre-market indicators point to mixed trade opening in Europe and the United States
On the business front, Spirit Airlines ceased operations after failure to make a last-minute rescue over the weekend, marking the end of a years-long slow-motion collapse and effectively closing a chapter on ultra-cheap air travel in America.
In another unexpected turn of events, meme stock GameStop has been created a complete acquisition offer eBay e-commerce platform.
Plenty of earnings reports are expected this week, particularly with company forecasts on energy costs, consumer demand signals and second-half prospects carrying added weight.
Shell And Maersk will be closely monitored as direct indicators of energy and maritime disruptions. Novo Nordisk The update comes as the weight loss drug market faces new pricing scrutiny. Ferrari And BMW This would provide insight into whether demand for luxury and premium cars has withstood cost pressures.
Among financial companies, Unicredit And HSBC will be ones to watch, while Airbnb’s US results and travel demand commentary will be important for European travel-related names.
And finally…Trump removes tariffs on Scotch whiskey ‘in honor’ of King Charles
Trump repealed tariffs on a key UK export last week, after a state visit by King Charles III and Queen Camilla appeared to help repair transatlantic relations weakened by a series of political impasses.
“In honor of the King and Queen of the United Kingdom, who have just left the White House and are soon returning to their great country, I will remove tariffs and restrictions on whiskey tied to Scotland’s ability to work with the Commonwealth of Kentucky on whiskey and bourbon,” the president said in an article published Thursday on Truth Social.
Trump later told reporters that he “removed all the restrictions, so Scotland and Kentucky could start negotiating again.” “And I did it in honor of the king and queen who just left,” he said.
— Chloe Taylor