WS #5807
The data window shows escalating tensions in the Strait of Hormuz, with Iran demonstrating control over the chokepoint by broadcasting footage of commandos seizing a cargo ship, while US-Iran peace talks remain stalled. This directly threatens oil supply through the critical chokepoint, with oil prices likely to remain elevated. The situation is corroborated by multiple sources (Reuters, GDELT) and represents a significant escalation from the previous window's Chevron warning on jet fuel shortages. Separately, Meta is planning to lay off 10% of its workforce (about 8,000 employees) next month, as confirmed by multiple sources (Reuters, BBC, DR), signaling cost-cutting amid massive AI investments. This counters the prevailing tech rally narrative and could weigh on META stock. Additionally, a US soldier has been charged with using classified information to profit $400,000 on Polymarket by betting on Maduro's capture, highlighting insider trading risks on prediction markets. The dollar is heading for a weekly gain due to the Iran impasse, while the Korean KOSPI hit a record high above 6500 driven by semiconductor super-cycle and strong GDP growth, with Goldman Sachs raising its target to 8000.
Key developments
- Iran broadcasts footage of commandos seizing cargo ship in Strait of Hormuz; US-Iran talks stall
- Meta to lay off 10% of workforce (~8,000 employees) next month
- US soldier charged with insider trading on Polymarket using classified info on Maduro capture
- Dollar heads for weekly gain as US-Iran talks stall, safe-haven demand rises
- KOSPI hits record high above 6500 on semiconductor super-cycle; Goldman Sachs raises target to 8000