Daily Update — April 28, 2026
Effects of Middle East Conflict on Decarbonization; Growing Stagflation Risk; and Prediction Markets in Focus
Today is Tuesday, April 28, 2026, and here’s your curated selection of Essential Intelligence on global markets from S&P Global. Subscribe to be notified of each new Daily Update.
Energy Transition & Sustainability
INTERVIEW: Middle East war may slow green logistics near term, but speed long-term transition: DHL
The Middle East war is creating new challenges for companies seeking to decarbonize as rising freight costs, war-risk surcharges and transit disruptions add financial strain to supply chains. Niki Frank, Asia-Pacific CEO of DHL Global Forwarding, said these pressures are prompting some customers to reassess their sustainability spending, with many rethinking or reprioritizing decarbonization efforts due to the additional costs.
Frank also noted that these challenges may catalyze long-term change. By renewing awareness of global dependence on Middle East oil and gas, the disruptions could strengthen the business case for alternative fuels and diversified sourcing.
Economy
Flash PMIs highlight growing stagflation risks among the major developed economies
S&P Global's April flash Purchasing Managers’ Index data indicates that output growth across the four major developed economies — the US, UK, eurozone and Japan — remains very modest, largely due to the Middle East war dampening demand. The service sector has been hardest hit, recording its first decline in demand since late 2023. In contrast, manufacturing output growth has accelerated due to companies stockpiling items in anticipation of supply shortages and potential price increases.
Supply delays are now the most widespread since 2022, affecting all major developed economies. At the same time, prices are rising sharply, which is likely to translate into faster consumer price inflation. This combination of subdued demand and escalating costs signals a growing risk of stagflation — stagnant growth coupled with inflation — posing a significant challenge for central banks.
Technology & Innovation
Listen: Betting on the Future: How Prediction Markets Are Changing the Game
In this episode of the "MediaTalk" podcast, S&P Global Market Intelligence tech policy reporter Stefan Modrich joined host Mike Reynolds to discuss prediction market platforms, which combine traditional betting with financial markets to enable users to wager on a wide range of events. The discussion highlighted key regulatory challenges, particularly the ongoing debate between state and federal oversight led by the Commodity Futures Trading Commission, and the increasing influence of these platforms in mainstream media and professional sports leagues.
Additionally, the episode addressed concerns around market manipulation, insider trading and ethical boundaries, particularly as these intersect with AI and controversial "death contracts," which allow users to bet on the occurrence of assassinations or war. As prediction markets expand and partner with major leagues and media organizations, their regulatory future remains uncertain.
In case you missed it
- The automotive semiconductor market, which made headlines during the 2021 chip shortage, has become a structural factor shaping how vehicles are designed, built and brought to market. Access to semiconductor supply will increasingly influence production planning, product differentiation and supply chain resilience across the automotive industry.
- California renewable energy certificate prices continued to fall in the first quarter, even as procurement activity linked to data center growth remained elevated, highlighting the dynamics between renewable attribute markets and infrastructure constraints.
- India's 5G rollout has advanced rapidly since its 2022 commercial launch, making the country one of the fastest-growing 5G markets. By the end of 2025, India had more than 1.2 billion wireless connections, including nearly 430 million 5G subscriptions.
Upcoming events
- Community Bankers Conference 2026: Ensuring Relevancy for the Future | May 5–7 (Fort Worth, Texas)
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- OECD Transfer Pricing Framework - How to tackle the challenges of Intercompany Financing in Middle East & Africa | May 7 (Webinar)