June 19th Overnight News Highlights

1. The three major U.S. stock indexes saw a recovery in prices, with the Nasdaq rising 1.91%. Intel led the chip sector higher, with its stock price surging 10%. Earlier, U.S. President Trump announced that the company will collaborate with Apple on chip design in the U.S. 2. The temporary peace agreement between the U.S. and Iran has taken effect, and shipping in the Strait of Hormuz has resumed. The U.S. announced the end of the blockade, and complex negotiations surrounding Tehran's nuclear program have officially begun. 3. An informed source stated that due to ongoing Israeli attacks in southern Lebanon, the Iranian negotiating delegation has delayed their trip to Switzerland. 4. Iranian Supreme Leader Ayatollah Ali Khamenei issued a statement on the Iran-U.S. reconciliation memorandum. Khamenei stated that Iranian President has made it clear that "if the U.S. continues to push, and make unreasonable demands, Iran will not accept. From this moment forward, Iran will wait for the implementation of the conditions stated." 5. Data from global shipping intelligence agency Kepler shows that three Saudi super-tankers carrying a total of 6 million barrels of crude oil have successfully passed through the Strait of Hormuz. 6. According to sources, after completing a record-breaking initial public offering, the underwriters of SpaceX under Elon Musk are preparing to hold a conference call with investors as early as next week, discussing a potential bond issuance plan. 7. Reports indicate that executives at Anthropic have submitted a proposal to Commerce Secretary Howard Lutnick, pledging to deepen cooperation with the White House to quickly eliminate various security risks. 8. With the agreement reached between the U.S. and Iran this week to end the war and lift the U.S. naval blockade, Iran sees an opportunity to rapidly resume oil exports. While Iran gets a timely respite, increased production in Tehran may exacerbate downward pressure on oil prices. 9. Kay Haigh of Goldman Sachs Asset Management stated that Kevin Wash's first speech after taking office as Federal Reserve Chairman following policy announcements is likely to cause greater volatility in the short end of the U.S. Treasury yield curve, while easing price fluctuations in the long end.