UAE Quits OPEC, OpenAI Hits Back at Growth Fears | Bloomberg Businessweek Daily 4/28/2026

Summary

The episode covers multiple market-moving topics: OpenAI pushes back against growth concerns, triggering a tech selloff ahead of mega-cap earnings; the UAE announces its exit from OPEC, raising questions about future oil supply and prices; geopolitical tensions with Iran and King Charles' US visit add to uncertainty; and a CEO survey from EY-Parthenon shows executives are re-evaluating growth strategies amid higher costs and supply chain disruptions.

• OpenAI denies missing internal sales targets, but rivals Anthropic and Google gain ground, pressuring tech stocks.
• UAE leaves OPEC after decades, citing desire to pump more oil; short-term oil market impact limited by the Strait of Hormuz blockade.
• Brent crude above $111, WTI near $100; spread between them is $11.
• King Charles III addresses US Congress amid strained US-UK relations and the Iran conflict.
• FCC launches early review of ABC's TV station licenses, pressuring Disney shares.
• EY-Parthenon survey finds most CEOs are revising growth strategies due to inflation, tariffs, and Middle East crisis.
• M&A activity in Q1 2026 was the best since 2023, with mega-deals up 74% year-over-year.
• AI investment seen as valuable long-term, but near-term ROI remains uncertain.