WS #9610
The dominant narrative remains the US-Iran situation, which is DE-ESCALATING with Trump signaling a settlement, but Iran's foreign ministry contradicts that no final peace agreement has been reached. This creates uncertainty. The SpaceX IPO is the major event today, with shadow markets pricing a 35% pop. NVIDIA continues to be a positive signal: the company has begun selling its Vera CPU to Chinese clients, with availability as soon as August, corroborated by multiple sources. UK economy shrank in April for the first time in eight months, an early sign of war damage. Counter-signals persist: Ukrainian drones struck Russia's TANECO refinery in Tatarstan, hitting oil infrastructure and adding supply-side risk. Italian financial stocks soar on Paschi bids. Overall, the risk-on mood is supported by US-Iran de-escalation and the SpaceX IPO, but oil supply risks from Ukraine drone strikes and UK economic contraction provide caution.
Key developments
- Trump claims US-Iran settlement imminent, Iran denies final agreement
- SpaceX IPO: shadow markets price 35% pop, Asian investors find workarounds
- NVIDIA pitches Vera CPUs to Chinese clients, orders set for August
- UK economy shrank in April for first time in eight months due to Iran war
- Ukrainian drones strike Tatneft's Taneco refinery in Tatarstan
- Italian financial stocks soar on Paschi bid revival chatter