Trump Bemoans Iran Talks, Magna CEO Talks News Trump Tariffs | Bloomberg Businessweek Daily 5/1/2026

Summary

The episode covers a broad rally in US equities with the S&P 500 near record levels, while geopolitical headlines include President Trump's stance on Iran talks, new sanctions on Cuba, and a 25% tariff reimposed on EU autos. FX strategist Jayati Bharadwaj discusses dollar weakness and Asian currency pressure. Brooks Running CEO Dan Sheridan reports strong global growth including 136% in China. Magna International CEO Swamy Kotagiri reaffirms full-year guidance despite auto sector headwinds. Cross-asset reporter Isabelle Lee highlights movers in Chevron, Riot Platforms, and Spirit Airlines.

• S&P 500 and Nasdaq 100 near record highs, with the S&P up over 10% in April.
• President Trump says he is not satisfied with Iran deal proposals and is reimposing 25% tariffs on EU cars and trucks.
• Jayati Bharadwaj notes the dollar's worst month since June and sees Asian currencies under pressure from high oil prices.
• Brooks Running CEO reports 23% global Q1 growth, with China up 136% and the brand resonating with Chinese runners.
• Magna International CEO says tariffs have no material effect due to local production, and the company reaffirms its full-year outlook.
• Chevron stock falls after messy Q1 earnings despite an oil price tailwind; Riot Platforms surges on data center lease expansion with AMD.
• Spirit Airlines shares fall further as a potential bailout from the Trump administration appears uncertain.
• The Berkshire Hathaway annual shareholder meeting is set for tomorrow, with Greg Abel taking the stage without Warren Buffett for the first time.