AI Optimism Sends Stocks Rocketing Higher; BP’s Chair Ousted | The Opening Trade 5/27/2026
The rally in US stocks is set to stretch into a fifth day as optimism around artificial intelligence, lower oil prices and easing bond yields spurred traders to grow increasingly bullish.
Former BP Plc Chairman Albert Manifold says he was fired without warning or explanation and will challenge the company’s version of events, deepening the turmoil around the UK oil major’s latest leadership change.
BP ousted Manifold on Tuesday after eight months on the job, citing serious concerns related to “governance standards, oversight and conduct.”
The company didn’t provide further details in its statement, but people close to BP who requested anonymity said there’d been complaints about aggressive behavior by Manifold toward employees, as well as of mishandling sensitive information and seeking to bypass the board.
The Opening Trade has everything you need to know as markets open across Europe. With analysis you won’t find anywhere else, we break down the biggest stories of the day and speak to top guests who have skin in the game. Hosted by Joumanna Bercetche and Tom Mackenzie.
Chapters:
00:00:00 – The Opening Trade
00:00:28 – Market Check
00:03:16 – Micron, SK Hynix Stock Rally
00:05:17 – Nvidia Smuggling Crackdown
00:07:31 – Central Bank Track Inflation Risk
00:10:26 – SpaceX IPO
00:11:05 – China Said to Slow-Track Airbus Deliveries
00:12:25 – Manifold Fired Over ‘Serious’ Governance Concerns: BP
00:16:24 – Oil Dips on US-Iran Deal Optimism
00:31:04 – European Gas Futures
00:36:06 – SK Hynix, Micron Enter $1T Market Cap Club
00:39:37 – Price-Action Is Bearish Even at Records: MLIV
00:47:34 – Stocks to Watch: Autos, Airbus, Akzo Nobel
01:04:53 – China Stalls Airbus Delivery
01:09:47 – BP CEO Announces Company Restructuring
01:15:43 – RBNZ Rate Hike Bets Sends Kiwi Higher
01:26:55 – UBS’ Khan on AI Job Impact
01:29:19 – AI Should Be Disarmed: Pope Leo
01:32:55 – White-Collar Work Exposure to AI
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