WS #8471
The dominant narrative remains the US-Iran situation, which is now in a state of conflicting signals: a potential 60-day ceasefire extension is reportedly agreed pending Trump's approval, but Iran has simultaneously launched missiles and warned of 'proportionate response' to US provocations. This contradictory dynamic is causing volatility in oil prices and risk assets. Separately, strong tech earnings from Dell (DELL) and Snowflake (SNOW) are driving after-hours gains, with DELL surging ~38% on AI server demand. Japan economic data showed mixed signals: industrial output beat expectations but Tokyo CPI missed, while the FinMin refused to comment on FX intervention. Trading halts for SLXN, HKIT, and SLXNW suggest pending news. Bitcoin dropped below $73,000 amid geopolitical tensions. The Cboe received SEC approval for extended trading hours starting July 13, covering Mag7 and high-volume names.
Key developments
- US-Iran ceasefire deal agreed pending Trump approval, but Iran launches missiles simultaneously
- Dell Technologies surges ~38% after-hours on AI server sales jump 757%, raises guidance
- Bitcoin drops below $73,000 to six-week low on Iran tensions
- Japan Tokyo May core CPI misses expectations, industrial output beats
- Cboe gets SEC approval for extended trading hours starting July 13