WS #7697
The dominant narrative remains the ESCALATING Iran conflict, with new corroborating signals: Russia began major nuclear drills focusing on simulated 'threat of aggression,' and a Russian missile strike killed two in Ukraine's Pryluky. Nickel spiked after reports of Indonesian NPI production cuts. In corporate news, Hesai Group (HSAI) beat estimates and initiated strong Q2 guidance, while Standard Chartered announced 7,000+ job cuts driven by AI. Berkshire Hathaway's cash holdings hit a record 32% of total assets. The SEC is reportedly set to roll out a framework for trading tokenized securities on crypto platforms. A DeFi exchange launched equity perpetuals powered by Nasdaq data. Crypto flows showed rotation from bitcoin into XRP and Solana. India raised retail fuel prices for the second time in less than a week. The UK energy price cap is forecast to rise nearly 13% in July. Japan and South Korea agreed to strengthen energy supply chain cooperation. The San Diego mosque shooting and Nigeria school abductions are tragic but not market-moving. Polymarket trades are noise.
Key developments
- Russia begins major nuclear drills simulating 'threat of aggression'
- Nickel spikes after report of Indonesian NPI production cut
- Hesai Group beats Q1 estimates, initiates strong Q2 outlook; named strategic lidar partner for Mercedes-Benz L3 autonomy
- Standard Chartered to cut more than 7,000 jobs as it steps up AI use
- Berkshire Hathaway cash holdings hit record 32% of total assets
- SEC eyes plan for trading tokenized versions of stocks on crypto platforms
- India raises retail fuel prices for second time in less than a week amid Iran war
- UK energy price cap forecast to rise nearly 13% in July to £1,850/year