WS #12719
The dominant narrative remains the Middle East conflict, which is ESCALATING. Multiple sources corroborate Houthi strikes on Saudi oil infrastructure (Yanbu and Jizan refineries), with oil prices surging over $100/barrel. Iran's IRGC fired on four ships in the Strait of Hormuz, and Iran rejected three US ceasefire proposals. However, a key counter-signal emerged: Trump paused US strikes on Iran after 13 consecutive days, signaling potential de-escalation. Separately, Kazakhstan's President Tokayev urged Putin to freeze the Ukraine war, a significant diplomatic development. The US imposed new tariffs on 60 countries (10-12.5%), with Taiwan receiving exemptions for 2,231 products. Amazon is cutting jobs in its AGI unit, signaling a shift in AI strategy. The Fed rate hike probability rose to 35% for July, pressuring growth stocks.
Topics
Key developments
- Trump pauses US strikes on Iran after 13 consecutive days, warns full-scale war could return
- Houthis claim attack on Saudi Aramco facilities in Yanbu and Jizan; Iran's IRGC fires on four ships in Strait of Hormuz
- Iran rejects three US-backed ceasefire proposals, angering Trump
- Kazakh President Tokayev urges Putin to freeze Ukraine war, citing signals from Europe and US
- US imposes new tariffs on 60 countries (10-12.5%); Taiwan exempted for 2,231 products
- Amazon cuts jobs in AGI unit, signaling AI strategy shift
- Fed rate hike probability rises to 35% for July meeting, up from 13% last week