WS #7288
No material new developments in the last 30 minutes. The Cerebras IPO and Trump-Xi summit remain the dominant signals, with no counter-signals or non-dominant-narrative developments to report.
Key developments
- Cerebras Systems IPO indicates 89% surge to $325, year's top IPO
- Trump and Xi agree Strait of Hormuz must remain open; Bessent says China will help reopen
- Senate fails to end Iran war (49-50), keeping geopolitical risk elevated
- Cisco rallies most since 2011 on earnings and AI networking supercycle
- Brookfield discloses $2B SpaceX stake ahead of IPO
- Wix shares tank on disappointing Q1 results and higher marketing spend
- AI trade now accounts for over half of S&P 500 weight - JPMorgan