WS #6741
The dominant signal in this window is a significant escalation in the Iran conflict, with multiple independent sources reporting explosions on Iran's Qeshm Island and in Bandar Abbas. Iran's Foreign Ministry has stated it is not pursuing nuclear negotiations, and Iran has reportedly rejected a US peace deal. This is corroborated by reports of intense US Air Force activity over Baghdad and a Pentagon strike on an Iranian oil tanker. The situation is clearly escalating, with no counter-signals of de-escalation. Separately, Trump announced a call with EU Commission President von der Leyen, agreeing to give the EU until July 4 to cut tariffs to zero or face higher tariffs, which is a positive development for EU-US trade relations. Other notable items include a large dark pool trade in Microsoft, Bumble's decision to remove swiping, and a $25.8 billion US weapons approval for Middle East nations.
Key developments
- Multiple explosions reported on Iran's Qeshm Island and Bandar Abbas; Iran confirms bombing
- Iran Foreign Ministry says not pursuing nuclear negotiations
- Trump gives EU until July 4 to cut tariffs to zero or face higher tariffs
- Large dark pool trade in Microsoft: 684,375 shares at $422.73
- Bumble to remove swiping feature amid declining users
- Rubio approves $25.8 billion in weapons sales for Middle East nations