WS #10577
The dominant narrative in this window is a continued de-escalation of the Strait of Hormuz crisis, with oil prices extending declines as more tankers cross the strait and US-Iran progress is signaled. This is a significant counter-signal to the previous bearish energy thesis. Additionally, Trump directs DOJ to investigate Big Oil for price gouging, adding downward pressure on oil. In tech, Meta unveils AI smart glasses from $299, and IBM announces a partnership with OpenAI for enterprise security. China's Zhipu considers a multi-billion-dollar Hong Kong share sale. Bitcoin drops toward $62,000 amid a deepening chip selloff. Australia's headline inflation cools to 4.0% in May, but sticky core pressures remain. The S&P 500 reshuffle sees Honeywell Aerospace replace Conagra. Cathie Wood's ARK bought AMZN, GOOG, TSLA, PLTR. Drone attacks on Russian refineries continue. The overall theme is oil de-escalation and mixed tech signals.
Topics
Key developments
- Oil extends declines as more tankers cross Strait of Hormuz, US-Iran progress signals
- Trump directs DOJ to investigate Big Oil over pump price gouging
- Meta unveils AI smart glasses lineup priced from $299
- IBM partners with OpenAI to integrate AI into enterprise security workflows
- China's Zhipu considers multi-billion-dollar Hong Kong share sale
- Bitcoin drops toward $62,000 as chip selloff deepens for second day
- Australia headline inflation cools to 4.0% in May, but sticky core pressures remain
- S&P 500 reshuffle: Honeywell Aerospace replaces Conagra