WS #10015

The dominant signal in this window is the escalating G7 commitment to reduce critical mineral dependencies on single suppliers outside the G7, with specific targets to cut rare earth and permanent magnet reliance to under 60% by 2030. This is corroborated by multiple sources (Jetstream/Bluesky posts citing Reuters) and represents a significant policy shift that could reshape supply chains for rare earths and defense materials. Separately, oil prices are under pressure from the US-Iran deal reopening the Strait of Hormuz, with crude crashing below $75 per barrel, which is bearish for energy stocks but bullish for consumer discretionary and airlines. The FOMC decision later today under Chair Warsh is the key macro event, with markets pricing a hold but volatility expected from Warsh's commentary. In corporate news, Marvell Technology (MRVL) is surging premarket after NVIDIA CEO Jensen Huang predicted it could become the next trillion-dollar company via a new $2B AI chip alliance, while CME Group is dropping on CEO transition news. SpaceX (SPCX) continues its post-IPO rally with tokenized volume hitting $100M on Solana, but analysts warn of valuation risk. The US retail sales surge from the prior window remains a carry-forward positive, though high gas prices are shifting consumer spending away from restaurants.