WS #7403
No material new developments in the last 30 minutes. The Strait of Hormuz closure, oil price spike, and US Industrial Production beat remain the dominant narratives with no counter-signals or de-escalation. The situation is STABLE with no new data points to alter the previous assessment.
Key developments
- Strait of Hormuz closure: largest oil supply shock in history, deficit growing by 14M bpd
- US Industrial Production MoM beats at 0.7% vs 0.3% forecast, reinforcing higher-for-longer rates
- BofA warns CPI nearing market pain point; bond yields becoming 'unhinged'
- Bill Ackman discloses new Microsoft stake, calls it 'compellingly cheap'
- Large dark pool orders: $468M in META and $274.71M in QQQ suggest institutional buying
- Chip stocks fall after Trump-Xi meeting brings no deals; NVDA, AMD, INTC drop
- Ukrainian drones hit Rosneft's Ryazan refinery, adding to supply concerns
- Trump's ethics filing reveals up to $750M in stock trades including MAG7 names