Iran's deputy foreign minister confirmed today that peace talks will proceed in Islamabad. The announcement came after Tehran stepped back from retaliating for overnight ceasefire violations following Pakistani intervention. Global stocks jumped as investors shed safe haven positions.
Oil prices tumbled sharply from recent highs above $100. The Strait of Hormuz reopening sent crude down as the month-long supply disruption eased. FT reported an armada of Asian tankers racing to US ports reversed course as energy shortages abated.
European bonds surged in their strongest day since 2023. Traders trimmed interest rate rise bets as inflation pressure from energy costs faded. Government debt in UK and eurozone rallied sharply on the geopolitical relief.
Tom Lee called the market bottom declaring the S&P 500 will hit 7,300. The bullish forecast came as stocks leaped on ceasefire news. Private credit funds faced redemption pressure with investors pulling $20B in Q1 according to FT. Apollo, Ares and Blackstone absorbed heavy withdrawal requests.
META Meta removed ads for social media addiction litigation per Axios reporting. The $1.3T tech giant faced legal pressure over platform design. VUZI Vuzix expanded into veterinary medical markets through a Movora partnership agreement.
Analysts stayed active with WFRD Weatherford International grabbing a Barclays target cut to $111 while maintaining overweight. CTSH Cognizant received neutral coverage initiation from Wedbush at $61. Energy service names absorbed mixed revisions as oil volatility persisted despite peace progress.
Turkey sold $20B in gold last month defending the lira as bullion prices slumped globally.
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