Reuters
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The UAE's OPEC exit | Morning Bid see less
Posted
May 2, 2026
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2,617
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May 2, 2026
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7:10Now PlayingThe UAE announced it is pulling out of OPEC, a move that analysts say could complicate the group's ability to manage production quotas. Fed chair Jerome Powell said he'll stay on as Fed governor even as three board members delivered the largest dissent since 1992. The Bank of England and ECB signaled hikes as soon as June, though bond yields fell as markets trimmed aggressive rate expectations. Tech giants committed more than $700 billion to AI, powering Wall Street's best month since 2020.
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