WS #6730

The dominant signal in this window is the ECB's Schnabel warning that the ECB will need to hike if the energy shock broadens, which is a hawkish pivot that could pressure rate-sensitive sectors. This is corroborated by a Bloomberg headline and the full ECB speech text. Separately, the Trump administration is reportedly inviting CEOs from NVDA, AAPL, XOM, BA, and QCOM on a China trip next week, which could unlock Boeing orders and ease trade tensions. This is reported by multiple sources (investing.com, Bluesky posts). The hantavirus outbreak on a cruise ship is confirmed by WHO with 5 cases, but risk is assessed as low, so limited market impact. Shell's earnings surge on oil trading bonanza is noted but stock is down 2.9%, suggesting profit-taking or tax concerns. SoftBank is in talks with NVDA and Foxconn to build made-in-Japan AI servers, which is positive for NVDA and the AI supply chain. The Iran-Hormuz narrative remains stable with de-escalation signals, and no new counter-signals have emerged. The prevailing macro theme is stable/de-escalating on geopolitical risks, with the ECB hawkish tilt being the main new development.