WS #7189
No material new developments in the last 30 minutes. The dominant macro narrative remains the escalating oil supply crisis and US PPI surge, with no counter-signals or de-escalation observed. All key developments from the previous synthesis are still current and unchanged.
Key developments
- OPEC production falls more than 30% on Strait of Hormuz closure
- US PPI surges 6% YoY, core PPI 5.2%, Dow drops 200 points
- Nvidia surges to new all-time high as Jensen Huang boards Air Force One for China summit
- Anduril doubles valuation to $61B after $5B raise; Pentagon to award missile contracts
- LinkedIn to lay off 5% of staff
- FedEx board approves spinoff of FedEx Freight, effective June 1
- Siemens Q2 beats estimates, affirms FY guidance
- Toyota and ExxonMobil warn of lubricant oil shortages due to Iran tensions