WS #14632

The Middle East tensions have shown signs of de-escalation, with Iran expressing willingness to engage in dialogue and the U.S. indicating openness to diplomatic solutions. This shift has slightly eased market volatility, though concerns about energy supply remain. The recent restart of Saudi Arabia's East-West crude oil pipeline has provided some relief to energy markets, but refinery outages and diesel price fluctuations continue to create uncertainty. The Nasdaq's record high persists, but the market's breadth remains weak, suggesting lingering investor caution. U.S. 10-year Treasury yields have remained below 5%, reflecting ongoing economic uncertainty and speculation about potential rate cuts. The recent meeting between Chinese President Xi Jinping and U.S. President Donald Trump has not produced new trade agreements, but discussions on technology and intellectual property have kept the trade relationship in the spotlight.