WS #10023
The dominant narrative remains the US-Iran deal and its aftermath, with Strait of Hormuz reopening but shipping safety concerns limiting traffic. Trump defended the deal at the G7, belittling Obama's deal, and said the MOU is 'very strong.' G7 leaders agreed on joint stockpiling of critical minerals. US economic data beat expectations: Retail Sales +0.9% vs 0.5% est., Pending Home Sales +3.8% MoM. Fed Chair Warsh holds first press conference today; markets expect no rate change. SpaceX shares fell for the first time since IPO. uniQure shares surged after FDA reversal on Huntington's therapy. Snap shares fell on pushback over $2,195 AR glasses. Jabil shares rose on better-than-expected Q3 results and raised guidance. EIA crude inventories showed a larger-than-expected draw of 8.263M barrels vs 3.6M est. Trump invoked Defense Production Act for munitions supply chains. UK ordered Google to improve search transparency. The US-Iran deal narrative is STABLE with cautious optimism; shipping traffic remains minimal.
Key developments
- Trump defends Iran deal at G7, calls MOU 'very strong'; Strait of Hormuz reopens but traffic minimal
- US Retail Sales beat expectations (+0.9% vs 0.5%), Pending Home Sales +3.8% MoM
- SpaceX shares fall for first time since IPO
- uniQure shares soar after FDA signals accelerated approval for Huntington's gene therapy
- EIA crude inventories show larger-than-expected draw of 8.263M barrels
- Snap shares fall on pushback over $2,195 SPECS AR glasses price tag
- Jabil shares rise on better-than-expected Q3 results and raised guidance
- Trump invokes Defense Production Act for munitions supply chains