Good morning, you're tuned in to Markets Desk.
The Federal Reserve meets today in what may be Jerome Powell's final rate decision as chair, and markets are watching closely. Policymakers are widely expected to hold rates steady, maintaining the cautious posture they've kept all year as inflation data remains stubborn and the labor market sends mixed signals.
Shifting to earnings, Booking Holdings reported first quarter two thousand twenty six results, giving investors a fresh read on global travel demand. The online travel giant has been a reliable bellwether for consumer spending abroad, and any softness in forward guidance will draw scrutiny given ongoing uncertainty around trade policy and dollar strength weighing on international bookings.
And on the geopolitical front, the U.S. Treasury has warned American and foreign banks about sanctions exposure tied to Chinese teapot refineries purchasing Iranian crude. Washington says China accounts for roughly ninety percent of Iran's oil exports, with these smaller independent refiners driving the bulk of those flows. The alert signals the administration is tightening enforcement pressure on the back channel that has kept Iranian barrels moving despite existing sanctions.
That's the tape. Markets Desk, signing off the floor.
