WS #7721
The dominant narrative remains the US-Iran escalation, with oil prices near $110 and Strait of Hormuz disruption forcing crude to take longer routes. However, a significant counter-signal emerged: President Trump said he was 'an hour away' from ordering a strike on Iran but postponed it after Gulf states pushed for diplomacy. This de-escalation pause, corroborated by CNBC, Al Jazeera, and multiple social media sources, dampens the immediate bearish oil/risk-off thesis. Separately, the Bank of Japan's Ueda acknowledged rapidly rising long-term interest rates and G7 central banks agreed that rising energy prices are affecting inflation expectations, adding to global macro uncertainty. On the corporate front, Home Depot beat Q1 earnings estimates, with analysts reiterating bullish calls. Apple's hardware chief Srouji is implementing a major shakeup to accelerate device development. GE Aerospace secured a US Air Force contract for the GE426 engine. Micron and SanDisk stocks slid as 30-year Treasury yields hit 19-year highs above 5.18%, pressuring growth/tech names. A $3.6M whale bought $INTC 150 Call options, a bullish bet on Intel's turnaround. The narrative arc on US-Iran is DE-ESCALATING (Trump postponed strike), while the macro bond yield spike is ESCALATING.
Key developments
- Trump postpones Iran strike after Gulf diplomacy, de-escalating immediate military threat
- 30-year Treasury yields hit 19-year high above 5.18%, pressuring growth/tech stocks
- Home Depot beats Q1 earnings estimates; analysts reiterate bullish calls
- Apple hardware chief Srouji implements major shakeup to accelerate device development
- GE Aerospace awarded US Air Force contract for GE426 engine for autonomous combat aircraft
- Whale buys $3.6M in INTC 150 Call options, bullish bet on Intel turnaround
- BOJ's Ueda acknowledges rapidly rising long-term rates; G7 central banks flag energy price impact on inflation