WS #9944
The dominant narrative remains the US-Iran peace deal, with Trump stating it includes '99.9% of what he wants' and is set to be signed Friday in Switzerland. This is a high-significance carry-forward from the previous window, now with a specific signing date. Oil continues to trade lower on the deal, with crude below $80. Separately, SpaceX is surging 17% on strong options trading and its $60B acquisition of AI coding firm Cursor, surpassing Microsoft in market cap. This is a major MAG7 carve-out: while the macro narrative is tech/peace deal, SpaceX's rally is a standalone high-significance event. Russian frigate warning shots at a British yacht in the English Channel is a new geopolitical flashpoint, though low probability of escalation. Ukraine drone strikes continue to hit Russian refineries, with Gazpromneft's Moscow refinery halted. Binance faces potential EU license rejection in Greece, which could impact crypto markets. Roku is being downgraded by multiple analysts following Fox acquisition news.
Key developments
- Trump says Iran deal includes 99.9% of what he wants, signing Friday in Switzerland
- SpaceX surges 17%, surpasses Microsoft in market cap, acquires Cursor for $60B
- Russian frigate fires warning shots at British yacht in English Channel
- Ukraine drone strike halts Gazpromneft Moscow refinery, damaging 53% of capacity
- Binance faces potential EU license rejection in Greece
- Multiple analysts downgrade Roku to Neutral/In-Line, price targets cut to $160