Surging

• U.S. gas prices have surged recently, hitting lower-income Americans the hardest amid ongoing economic pressures from geopolitical tensions including the Iran conflict. • The New York Times reports that the price spike exacerbates inequality, with lower-income consumers facing steeper relative burdens on household budgets. • President Trump's claim that the U.S. won the war with Iran has drawn scrutiny, potentially influencing energy markets and public sentiment on fuel costs.

• Equity benchmarks Sensex and Nifty closed lower after intraday swings, pressured by spiking crude oil prices above $90/barrel. • Foreign investor outflows accelerated to ₹15,000 crore in April, exacerbating downside in banking and energy sectors. • Auto and FMCG stocks like Maruti Suzuki and ITC provided limited support amid broader risk aversion.

• Oil prices surged amid Iran-U.S. conflict threatening global supplies, but U.S. stocks remained resilient near record highs driven by strong earnings from Visa and Starbucks on April 29, 2026. • S&P 500 edged down 0.1%, Dow fell 286 points or 0.6%, Nasdaq up 0.1%; Visa shares jumped 8.3% on resilient consumer spending per CEO Ryan McInerney, Starbucks climbed 8.6% with higher per-visit spending in North America. • Federal Reserve officials hinted at no 2026 rate cuts, nearly eliminating investor bets and nearly favoring hikes due to inflation from energy prices; bond market trembled.

• Cathie Wood's Ark Innovation ETF bought $6.9 million worth of a surging tech stock amid ongoing market volatility. • As of April 2, 2026, ARKK was down 12% year-to-date compared to the S&P 500's 3.8% decline, with a five-year annualized return of -10.6% versus S&P's 12%. • Wood anticipates a 'great acceleration' in global growth driven by innovation, positioning the purchase as a bet on tech recovery.

Shop around, coast downhill, band together – drivers tell of how they’re dealing with the costliest gas in the USJack Nooney has pretty much made peace with the traffic since moving to Los Angeles five years ago, but recent soaring gas prices have certainly added another layer of insult to his daily commute. The musician and full-time grocery deli employee drives from his San Fernando Valley apartment to Santa Monica daily. While it’s just nine miles each way, with LA traffic that often equates to a whole gas-burning hour.Nooney, who makes $20/hour, says it’s become glaringly clear that fuel costs will eat up more of his already tight budget. Angelenos are now paying on average nearly $5.90 a gallon – and some stations are charging a shocking $8 a gallon. The outsized prices are directly related to the Iran war, which has created the largest supply disruption in the history of the global oil market, according to the International Energy Agency. Continue reading...

The factories, which buy cheap crude and turn it into fuel, are struggling as higher oil prices threaten their razor-sharp margins The towns that are the bulwark of China’s energy security can, at a moment of global crisis, appear deceptively quiet. Trucks carrying oil trundle along wide-open highways that have little traffic, while a few boarded-up shops in crumbling low-rise buildings hint at a long-forgotten local buzz.A ramshackle noodle shop serving hand-pulled ribbons of dough was empty at lunchtime, save for a few construction workers and a teacher watching videos on Douyin, the social media platform, with his meal. Continue reading...

• Broadcom announced supply chain bottlenecks across the tech sector, particularly at TSMC, due to skyrocketing demand for AI chips on March 24, 2026. • The constraints affect networking, custom silicon, and data-center hardware critical for AI infrastructure beyond major model developers. • This highlights the AI hardware race creating opportunities for startups to innovate in chip manufacturing tools amid industry-wide shortages.

Meta Platforms is evaluating layoffs impacting at least 20% of its nearly 79,000 employees as of December 31, 2025, to counter escalating AI infrastructure expenses, according to a Reuters report on March 14, 2026. Top executives discussed the plans with senior leaders, marking potentially the largest restructuring since 21,000 job cuts in 2022-2023 if implemented. The move aligns with industry trends, as Amazon recently eliminated 30,000 roles citing AI-driven efficiencies. A Meta spokesperson dismissed the report as speculative on theoretical approaches, amid broader tech sector adjustments to AI economics.