WS #7198
No genuinely new market-moving developments have emerged in the last 30 minutes. The dominant narrative remains the Iran war-driven oil supply crisis and the Trump-China summit, both of which are ongoing without material change. No counter-signals or de-escalation events have been reported.
Key developments
- EIA reports 4.3M barrel crude inventory draw, larger than expected
- Trump arrives in China for summit with Xi; tariff reduction talks on $30B imports
- Nvidia hits new all-time high of $226, market cap above $5.5T
- BofA nearly doubles Micron price target to $950, raises other AI chip stocks
- Nebius Group crosses $200, up 16.6% on strong Q1 results
- Russia launches mass drone attack on Ukraine with 800 drones, killing six
- Fed's Collins: expects restrictive policy for some time; prolonged Middle East war creates challenging choices
- Senate set to confirm Trump pick Warsh as Fed Chairman