OpenAI-Linked Stocks Slump, Oil Tops $110 Again | The Opening Trade 4/28/2026

Watch on YouTube ↗  |  April 28, 2026 at 11:07  |  1:35:40  |  Bloomberg Markets
Speakers
Senior Market Strategist — Senior Market Strategist, Unknown

Summary

The episode covers rising oil prices due to the Strait of Hormuz closure and OpenAI missing sales targets, which sparks concern over AI spending. It also discusses the Bank of Japan's split decision and earnings from BP and Barclays, with a focus on trading profits and broader economic risks.

  • Oil rises for a seventh straight day as the Strait of Hormuz remains closed.
  • OpenAI misses sales and user targets, raising doubts about AI capex sustainability.
  • BOJ holds rates in a 6-3 split vote, increasing odds of a June hike.
  • BP reports strong earnings driven by exceptional oil trading.
  • Barclays underperforms as fixed-income trading disappoints.
  • US dollar strengthens on revived 'US exceptionalism' narrative.
  • UK gilt yields rise on inflation worries, weighing on the pound.
  • Norway sovereign wealth fund conference begins with focus on geopolitical volatility.
Trade Ideas
Peter 31:44
Oil higher for 3-4 months
Oil prices will stay elevated for at least the next three to four months due to the closure of the Strait of Hormuz and sustained geopolitical uncertainty, with the futures curve suggesting higher levels than pre-war.
BNO MED
Peter 33:45
Pound to weaken further
The UK has a structural inflation problem, fiscal headroom is being priced out, and political uncertainty is mounting, all of which should lead to a weaker pound.
GBP/USD MED
Senior Market Strategist Senior Market Strategist, Unknown 54:08
US dollar to strengthen
The narrative of US exceptionalism is returning, which will support stronger US equities and, crucially, a stronger dollar as capital flows back to the US.
DG MED
Up Next
6:46
US Not Considering an Energy Export Ban, Secretary Wright Says
Bloomberg Markets · Apr 28
1:04:30
Polymarket's Wild West Ends With a Soldier's Arrest
Unchained (Chopping Block) · Apr 28
12:27
Nicolai Tangen, Norway's Wealth Fund CEO, on Markets, Real Estate, AI and China
Bloomberg Markets · Apr 28
48:27
How Morpho Successfully Weathered the KelpDAO Bridge Exploit
Unchained (Chopping Block) · Apr 28
47:31
China Forces Meta to Unwind AI Deal as BOJ Turns More Hawkish | Insight with Haslinda Amin 4/28/2026
Bloomberg Markets · Apr 28

This Bloomberg Markets video, published April 28, 2026, features Peter, Senior Market Strategist discussing BNO, GBP/USD, DG. 3 trade ideas extracted by AI with direction and confidence scoring.

Speakers: Peter, Senior Market Strategist  · Tickers: BNO, GBP/USD, DG