Outlook

• Prasar Bharati informed the Delhi High Court that it will not purchase commercial broadcast rights for the 2026 FIFA World Cup, stating such an acquisition falls outside its public service mandate. • The clarification led to the withdrawal of a public interest petition filed by advocate Avdhesh Bairwa, who sought to ensure free-to-air access for the tournament starting June 11 in North America. • The petitioner argued that denying access would violate the public's right to information, citing India's massive football fandom and the 745 million digital interactions recorded during the 2022 World Cup.

• Indian doubles pair Satwiksairaj Rankireddy and Chirag Shetty finished as runners-up at the Thailand Open Super 500 after a straight-games defeat. • The duo lost 12–21, 23–25 to Indonesia's Leo Rolly Carnando and Daniel Marthin in a match that lasted 53 minutes, despite saving four championship points. • This result marks a strong return for the pair following Satwik's recovery from a shoulder injury and represents their first final appearance of the current season.

• Wall Street stocks traded mixed early Monday, May 4, 2026, as rising oil prices from Middle East conflict offset robust US corporate earnings expectations. • Oil prices edged higher after Iran's military warned it would attack US forces entering the Strait of Hormuz, following President Donald Trump's announcement to guide ships through the waterway. • Major indices remain near record highs, supported by encouraging inflation data and resilient earnings season, though investors eye the April jobs report.

Companies are now seeking refunds on tariffs after supreme court ruled Trump’s emergency levies were illegalSign up for the Breaking News US email to get newsletter alerts in your inboxGeneral Motors is expecting a $500m tariff refund after the US supreme court struck down some of Donald Trump’s most sweeping levies.That has boosted the Detroit automaker’s outlook for 2026. On Tuesday, GM said it’s now looking to rake in $13.5bn-$15.5bn in earnings before interest and taxes this year – up from previous forecasts of $13bn-$15bn. Continue reading...

• Taiwanese electronics manufacturer Foxconn reported strong first-quarter revenue growth, yet issued a cautious outlook for future quarters citing escalating geopolitical tensions as a primary risk factor. • The company's performance reflects broader concerns among multinational corporations about supply chain disruptions and market volatility stemming from the Iran conflict and US-China relations.

• Micron Technology reported blowout earnings results, while Nvidia issued a stunning outlook for its Blackwell and Rubin AI products, yet the broader market has not responded positively to either announcement. • Morningstar increased Micron's fair value assessment following its earnings beat, and upgraded Nvidia's fair value based on the company's AI product roadmap expansion. • The muted market response to strong tech earnings reflects ongoing concerns about macroeconomic headwinds, including geopolitical risks and Federal Reserve policy decisions that are weighing on investor sentiment.

• U.S. employers report a Q2 2026 Net Employment Outlook of 41% for tech roles, up 8 points from last quarter per ManpowerGroup's Experis survey. • Global tech NEO stands at 45%, with data collected January 1 to February 3 from 4,655 employers across 42 countries. • The rebound reflects growing confidence in tech investments, though U.S. figures lag year-ago levels amid precise hiring.

The U.S. PCE inflation index reached 3.1% in February 2026 data released March 13, exceeding forecasts and fueling concerns over persistent price pressures. This reading, alongside Brent oil hitting $100, pushed back expectations for Federal Reserve rate cuts into late 2026. Economists note the figure complicates the Fed's dual mandate amid slowing GDP growth. Markets now price in steady rates through mid-year.