WS #8172

The US-Iran deal narrative continues to de-escalate from 'imminent' to 'framework only', with both sides playing down hopes for a quick breakthrough. Iran's foreign ministry spokesperson said no agreement is imminent and nuclear issues will be negotiated over 60 days, while the US blockade remains until a deal is signed. This tempers the oil price decline and equity rally seen earlier. Separately, Nvidia CEO Jensen Huang urged Super Micro to tighten compliance amid a Taiwan crackdown on AI server exports, which could pressure SMCI and related supply chain stocks. China's solar installations fell for a fourth straight month, signaling persistent weakness in domestic demand. BlackRock's Saigal sees 'sufficient factors' to justify a Fed cut, adding to dovish expectations. European stocks rallied to multi-week highs as oil dropped and the Nikkei hit records, but the Iran deal caveats may reverse some of that optimism. SpaceX IPO preparations continue to generate buzz, with retail access via Robinhood and SoFi being highlighted. The overall narrative is that the Iran deal is not imminent, supporting oil prices and dampening the equity rally.