A cargo ship sails at sea on Qeshm Island in the Strait of Hormuz, Iran, April 28, 2026.
Asghar Besharati | Getty Images
Hello, my name is Anique Bao from Singapore. Welcome to another edition of CNBC’s Daily Open.
This weekend brought a lot of headlines from the Middle East, including President Trump’s gesture toward Hormuz Island, new OPEC+ production increases, and glimmers of peace talks.
For the most part, market participants greeted them with a yawn. After weeks of flogging all developments in Tehran and Washington, investors appear to have accepted the impasse.
Against this backdrop, Gulf concerns appear to have been factored in, so this week’s earnings announcements from leading European companies are likely to trigger market movements.
What you need to know today
US President Donald Trump on Sunday announced Project Freedom, a US-led operation to help countries not party to the Middle East conflict free stranded cargo ships.
Oil markets were unimpressed by Project Freedom, with Brent crude oil futures for July delivery down 0.60% to $107.49 per barrel, while U.S. West Texas Intermediate futures for June delivery fell 0.86% to $101.07 per barrel.
Corporate profits are in the spotlight as geopolitical developments appear to be at an impasse. Strong first-quarter earnings and optimism about a diplomatic recovery have pushed stocks to new records in recent days.
South Korea’s Kospi rose to an all-time high on Monday, supported by the country’s resilient technology and export sectors. Indices in other Asia-Pacific regions generally rose.
Germany’s DAX has been trading lower after having its best month since last January. Pre-market indicators show mixed trade opening across Europe and US
On the corporate front, Spirit Airlines was grounded after a last-minute rescue attempt over the weekend, ending years of slow-motion collapse and effectively closing the chapter on ultra-low-cost air travel in America.
In another unexpected turn of events, meme stock GameStop has announced a bid to fully acquire e-commerce platform eBay.
A number of earnings reports have been released this week, with a particular emphasis on corporate guidance on energy costs, consumer demand signals and second half outlook.
shell and maersk Will be closely monitored as a direct agent of energy and transportation disruption. novo nordisk The latest information comes as the weight loss drug market faces new pricing scrutiny. ferrari and BMW It will give us a glimpse of whether demand for luxury and luxury cars will hold up under cost pressures.
Some financial companies Unicredit and HSBC Comments on Airbnb’s revenue and travel demand in the U.S. are notable, but could be important for a company adjacent to European tourism.
And finally…
President Trump lifts Scotch whiskey tariffs ‘in honor of King Charles’
President Trump last week lifted tariffs on major British exports after a state visit by Charles III and Queen Camilla was seen as helping to mend transatlantic relations, which had been soured by a series of political conflicts.
“In honor of the King and Queen of England who just left the White House and will soon return to our great country, we are eliminating tariffs and restrictions on whiskey related to Scotland’s ability to work with Kentucky on whiskey and bourbon,” the president said in a post on Truth Social Thursday.
President Trump later told reporters: “We have lifted all restrictions so that Scotland and Kentucky can start trading again.” “And I did it in honor of the king and queen who just left,” he said.
— Chloe Taylor
