WS #7202
No material new developments in the last 30 minutes. The dominant macro narrative remains the Iran oil crisis and its second-order effects, with no new data points or counter-signals to report. The previous synthesis covers all relevant information.
Key developments
- Chinese oil tanker successfully transits Strait of Hormuz as Trump visits Beijing
- OPEC slashes oil demand forecast; production down >30% since Iran war began
- White House official says China pressured Iran to reach agreement
- S&P 500 hits new all-time high above 7,400
- Boston Fed Collins says rates should stay on hold for 'some time'; PPI surges
- Marvell Technology (MRVL) jumps 10% on Nvidia CEO China trip; BofA $200 PT
- Nike (NKE) falls to lowest price in almost 12 years
- Eos Energy (EOSE) rallies on Q1 earnings beat with surprise profit