WS #7291

The dominant signal in this window is the Cerebras Systems IPO, with shares indicated to open at $326-$336, an 80-90% premium above the $185 IPO price, per multiple Reuters-sourced posts. This is a high-significance event for AI chip sentiment and could lift NVDA and other AI names. Separately, Trump and Xi agreed that the Strait of Hormuz 'must remain open,' a de-escalation signal that counters the prevailing oil supply crisis narrative, though no specifics on Taiwan were mentioned. China also agreed to buy 200 Boeing jets, a positive for BA. The UK political landscape shifted with Labour MP Josh Simons stepping down to allow Andy Burnham a path to Parliament, potentially triggering a leadership challenge against Starmer. On the macro front, the S&P 500 crossed above 7,500, and Goldman Sachs (GS) is near all-time highs, indicating broad market strength. However, Doximity flagged pharma ad market weakness, and the Supreme Court ruling on trucking broker liability weighs on CHRW, LSTR, RXO. India hiked gold and silver tariffs to 15%, bearish for gold miners. The Fed's Miran suggested deregulation could ease inflation, while Piper Sandler sees rate cuts within three months. Overall, the narrative is one of geopolitical thaw (Hormuz, US-China) and strong AI-driven tech momentum, with UK political uncertainty as a secondary theme.