WS #12278
No material new developments in the last 30 minutes. The dominant themes of tech rout and oil supply concerns remain unchanged, with no new data points or counter-signals to report.
Topics
Key developments
- Semiconductor index enters bear market; Apple overtakes Nvidia as world's most valuable company
- US-Iran strikes escalate; Strait of Hormuz traffic at 17% of normal; WTI rallies 11%+ for the week
- Chevron signs preliminary deals to invest in Iraqi oil fields and bypass Strait of Hormuz via Mediterranean pipeline
- University of Michigan Consumer Sentiment beats expectations; 1-year inflation expectations fall
- Netflix shares plunge ~12% on weak Q2 sales and Q3 guidance miss