Key facts
- Global stocks are near record highs, led by tech shares.
- Nvidia announced a new AI chip for PCs.
- Micron shares surpassed $1,000.
- Missile and drone attacks were reported near Kuwait.
- Explosions were heard near Iran's Qeshm Island.
- The Strait of Hormuz remains largely shut to maritime traffic.
- U.S. President Donald Trump indicated ongoing talks with Iran.
- The UN nuclear watchdog warned of increased risk of Iran developing nuclear weapons.
- Iran possesses 440.9 kg of high-enriched uranium.
- Russia's crude oil exports reached post-invasion highs in the first five months of the year.
- The U.S. Dollar softened ahead of the Non-Farm Payrolls report.
- The conflict between the U.S. and Iran is nearing its 100-day mark.
Global stock markets are hovering near record highs, with technology shares leading the advance. Nvidia's unveiling of a new AI chip designed for PCs has boosted its own shares and those of its partner, Microsoft. PC manufacturers Dell and HP have also experienced significant gains, and Micron's shares have surpassed the $1,000 mark. Concurrently, geopolitical tensions have escalated in the Gulf region. Missile and drone attacks have been reported near Kuwait, and explosions were heard near Iran's Qeshm Island. The United States shot at a tanker heading toward Iran, and a shipping vessel in Iraq was struck. The Strait of Hormuz remains largely closed to maritime traffic. U.S. President Donald Trump has stated that talks with Iran are continuing, though the status of these discussions is disputed. Crude oil prices initially jumped amid intensified hostilities but later pared gains following Trump's comments. The UN nuclear watchdog has issued a warning that Iran's risk of covertly developing nuclear weapons has increased since U.S.-Israeli strikes in June 2025. Inspectors are reportedly unable to regularly verify Iran's nuclear material, which includes 440.9 kg of high-enriched uranium. Russia's crude oil exports have reached new highs in the first five months of the year, maximizing financial gains from the conflict in Iran. This trend follows the Russian Ruble's emergence as the top-performing emerging market currency since the conflict began. The U.S. Dollar has softened ahead of the Non-Farm Payrolls (NFP) report, influenced by falling oil prices attributed to a ceasefire in the Israel-Lebanon conflict. Expectations for the NFP reading are lower than the previous month, with market pricing for a Federal Reserve hike by year-end at approximately 50%. The U.S. will uphold tariff caps in agreements with the EU, Japan, and other nations, while a country-specific waiver for Russian oil remains a possibility. The conflict between the U.S. and Iran is nearing its 100-day mark with no resolution in sight, marking a continued stalemate between the two nations.