WS #7856
The dominant signal in this window is the continued AI and tech rally, with Nvidia's Huang spurring Asia tech gains and European AI-linked stocks surging over 100% YTD. Anthropic is nearing its first quarterly profit with revenue projected to double to $10.9B, and is expanding to Colossus2 using GB200. The Iran conflict narrative shows mixed signals: Trump claims US is in 'final stages' with Iran, causing oil to fall below $100, but reports of Netanyahu pushing to resume war and AIS spoofing in the Persian Gulf suggest ongoing tensions. Russia has deployed nuclear-capable Iskander-M systems to Belarus, and Ukraine continues drone strikes on Russian oil refineries. China's yuan hit a 3-year high as global banks issue bullish forecasts. JPMorgan's Dimon warns rates may climb much higher. The AI narrative is escalating, while the Iran conflict narrative is mixed with de-escalation hopes but underlying escalation risks.
Key developments
- Nvidia's Huang spurs Asia tech rally with AI, robots hype
- Anthropic nears first quarterly profit, revenue surges past $10B
- Trump says US in 'final stages' with Iran; oil falls below $100
- Russia deploys nuclear-capable Iskander-M to Belarus
- China's yuan hits 3-year high; Bank of America forecasts further gains
- JPMorgan's Dimon warns rates may climb much higher
- 42 US aircraft lost or damaged during war with Iran - Congress Research Service