Disruptions through the Strait of Hormuz linked to the ongoing conflict with Iran have constrained access to about 20% of global oil and natural gas supplies, pushing crude above $90 a barrel this week. The rebound in energy costs is adding to inflation pressures at a time when U.S. inflation remains stubbornly above the Federal Reserve’s 2% target. Fed Chair Warsh reiterated the 2% commitment but warned the economy has entered a new phase of inflation and that further action may be needed if underlying trends do not improve.

Southwest Airlines said it will open its first airport lounges in Austin, Nashville, Baltimore and Honolulu, with construction already underway. The carrier plans to launch a Chase-issued cobranded credit card in 2027 that will include access to its lounge network. Southwest expects the lounges to begin opening in late 2027. The move is aimed at attracting higher-spending premium travelers and expanding non-ticket revenue.

Uber drivers have filed a collective lawsuit in Amsterdam, alleging the company’s AI-driven pay system breaches data-protection rules and suppresses earnings. The suit follows a €825m fine issued by the Dutch data protection authority over automated account deactivations. Drivers say dynamic pricing introduced in the UK in 2023 cut annual income by about £5,000, and a 2025 University of Oxford study also reported substantial drops in earnings after the model was introduced.

GE Vernova’s backlog has reached $176 billion, and data center orders in its Electrification segment exceeded $5 billion in the first half of 2026—more than double the full-year total for 2025. Over the past twelve months, revenue rose 13% and operating cash flow margin was 34%. On the back of that performance, management raised its full-year 2026 free cash flow guidance to $11.5 billion to $12.5 billion. The stock trades at a price-to-earnings multiple of 25.6.

Uber said it will cut about 10% of its workforce, marking its largest round of layoffs since 2020. The company is also asking the “vast majority” of remote employees to return to offices in San Francisco and New York, with fewer than 1% allowed to work remotely going forward. Uber is facing intensifying competition from autonomous ride-hailing services such as Waymo and Zoox. The stock is down about 7.7% year-to-date, underperforming the S&P 500 index.

LME three-month zinc rose to $3,990 per metric ton on Monday, a four-year high, while the cash premium, though down from above $230 last week, remained elevated at $139, pointing to severe tightness. After global zinc mine output briefly rebounded by 4.8% last year, production fell 2.6% year on year in the first half of 2026, reversing earlier expectations of a modest recovery. New International Lead and Zinc Study Group data show global mine output dropped a cumulative 8.6% between 2015 and 2025, reinforcing longer-term supply-side shrinkage risks.

Retail and wholesale sugar prices in India continued to fall as weak demand left mills with few buyers for offers above ₹4,400 a quintal. Under new fortnightly quota rules, mills must sell 40 per cent of the Food Ministry’s allocation in the first week, adding pressure to cut prices. The Centre has also allowed duty-free imports of 1 million tonnes of raw sugar until October 31, weighing further on the domestic market. Global sugar prices on ICE New York rose to 18.26 cents a pound.

Dell reported fiscal second-quarter 2027 revenue of $47 billion, up 58% year over year, beating expectations of $45 billion. Adjusted EPS jumped 203% to $7.04, well above the $4.90 analysts had forecast. AI-optimized server revenue reached $16.4 billion, while AI orders and backlog hit record highs and Infrastructure Solutions Group revenue rose 89%. The stock gained about 9% in after-hours trading following the release.