WS #12067
No material new developments in the last 30 minutes. The dominant narrative remains the US-Iran conflict and its oil market implications, with no new counter-signals or de-escalation. Other previously reported events (IBM, Lucid, CPI) have no new data points.
Topics
Key developments
- Trump reverses 20% Hormuz cargo fee, replaces with Gulf investment deals
- US conducts additional airstrikes in Iran; Iran attacks Bahrain and Jordan with missiles
- Oil futures extend gains, US diesel futures up 5% on supply disruption fears
- IBM shares plunge ~24%, worst day since 1987, after pre-earnings warning
- Lucid Motors crashes ~55% on bankruptcy rumors, company denies
- June CPI cooler than expected at 3.5% YoY vs 3.8% expected, Fed rate hike odds drop to 17%
- Cybersecurity stocks rally on IBM CEO comments about cyber spending priority