President Trump claimed that the U.S. has reached a 'great settlement' to end the Iran war, marking his 39th such assertion. This announcement has caused oil prices to fall approximately 4%, as the reopening of the Strait of Hormuz, a crucial oil shipping route, is anticipated to increase tanker traffic significantly.
Concurrently, U.S. markets responded positively, with the Dow Jones Industrial Average gaining over 900 points. Investors are also looking forward to SpaceX's IPO, set for Friday, which is projected to be valued at around $1.8 trillion. However, the company plans to allocate a smaller portion of its offering to retail investors than previously expected.
In Asia, markets surged, with the Nikkei 225 and South Korea's Kospi rising 4% and 7%, respectively. Bernstein analysts highlighted DraftKings as a key beneficiary of the World Cup betting boom, citing its strong marketing ties as advantageous for capturing the soccer betting demographic