Public Markets 3 Hours

Last updated: May 2, 2026, 11:30 AM ET

Equities & Corporate Performance

The upward momentum in U.S. equities continued unabated as a better-than-expected first-quarter earnings season propelled the S&P 500 Index toward new records, driven heavily by high-flying technology names attracting momentum investors. This corporate strength was evident at Berkshire Hathaway, which reported profits more than doubling, bolstered by increases across its insurance, railroad, and energy divisions, just ahead of its annual shareholder meeting where Greg Abel will address investors as the new CEO following Warren Buffett’s tenure. Concurrently, Berkshire's cash reserves swelled to $380 billion, marking the 14th straight quarter of stock sales as the conglomerate stockpiled liquidity.

Industrials & Commodities

In global industrial news, merger talks between German conglomerate Thyssenkrupp AG and India’s Jindal Steel International have been paused regarding the latter’s bid for a stake in the German firm’s steel unit, signaling potential friction in cross-border industrial consolidation. Meanwhile, the energy sector saw movement as major OPEC+ nations reached a provisional agreement to implement another modest increase in supply targets for June, marking the group's initial adjustment since the United Arab Emirates’ unexpected departure from the production agreement. This supply signal comes as concerns mount in agriculture, where Hungary warned that a severe drought resulting from dry conditions throughout April would necessitate emergency government steps to aid grain producers facing crop losses.