Overnight U.S. stocks | The S&P 500 index extends its five-day winning streak; sources say the U.S. and Iran will soon bring “good news”

Zhitong Finance APP reports: On Tuesday, the three major indexes moved in different directions, and the S&P 500 index has risen for the fifth consecutive trading day. In an interview, Trump said the United States is currently holding “intense negotiations” over the Iran war, but did not disclose any more details. He also said he is about to receive a full briefing on Pakistan Prime Minister’s proposal for a “two-week ceasefire.”

[US Stocks] By the close, the Dow Jones fell 85.42 points, or 0.18%, to 46584.46; the Nasdaq rose 21.51 points, or 0.10%, to 22017.85; and the S&P 500 rose 5.02 points, or 0.08%, to 6616.85. Broadcom (AVGO.US) rose more than 6%, and Intel (INTC.US) rose 4%. The Nasdaq China Golden Dragon Index closed down nearly 1%.

[European Stocks] Germany’s DAX30 index fell 251.66 points, or 1.09%, to 22916.42; the UK’s FTSE 100 index fell 86.39 points, or 0.83%, to 10349.90; France’s CAC40 index fell 53.65 points, or 0.67%, to 7908.74; Europe’s STOXX 50 index fell 59.11 points, or 1.04%, to 5633.75; Spain’s IBEX35 index fell 116.75 points, or 0.67%, to 17439.15; and Italy’s FTSE MIB index fell 221.44 points, or 0.49%, to 45403.50.

[Asian Stock Markets] Japan’s Nikkei 225 inched up, and South Korea’s KOSPI rose 0.82%.

[Cryptocurrencies] Bitcoin rose more than 1.3% to $69,729.66; Ethereum rose 1.7% to $2,140.88.

[Crude Oil] The light sweet crude futures contract for May delivery on the New York Mercantile Exchange rose by 54 cents, closing at $112.95 per barrel, up 0.48%; the London Brent crude futures contract for June delivery fell by 50 cents, closing at $109.27 per barrel, down 0.46%.

[US Dollar Index] The U.S. Dollar Index, which measures the dollar against six major currencies, fell 0.12% on the day and closed at 99.857 at the end of trading in New York. As of the end of trading in New York, 1 euro exchanged for $1.1574, higher than $1.1549 in the previous trading session; 1 British pound exchanged for $1.3251, higher than $1.3241 in the previous trading session. 1 dollar exchanged for 159.73 Japanese yen, higher than 159.63 yen in the previous trading session; 1 dollar exchanged for 0.7988 Swiss francs, higher than 0.7977 Swiss francs in the previous trading session; 1 dollar exchanged for 1.3899 Canadian dollars, lower than 1.3914 Canadian dollars in the previous trading session; and 1 dollar exchanged for 9.5065 Swedish kronor, higher than 9.4355 Swedish kronor in the previous trading session.

[Precious Metals] Spot gold rose 1.21% to close at $4,706.32; spot silver closed at $72.992.

[Macro News]

Insiders: “Good news” is expected to come from both the U.S. and Iran soon. After Pakistani Prime Minister Shehbaz proposed a “two-week plan,” insiders said the U.S. and Iran are expected to bring good news soon, with a final agreement expected to be reached before 7 p.m. local time. Shehbaz earlier posted on social media saying, “Diplomatic efforts aimed at peacefully ending the current Middle East conflict are progressing firmly and resolutely, with the prospect of achieving tangible success in the near term.” To leave room for the diplomatic process, he asked Trump to postpone the “final deadline” by two weeks and also asked the “Iran brothers” to open the Strait of Hormuz for two weeks as a show of goodwill.

Pakistan’s prime minister asks Trump to extend the deadline by two weeks, calls for a two-week ceasefire and Iran to open the strait. Pakistan’s prime minister said he requested that U.S. President Trump extend the final deadline for Iran by two weeks, and urged all sides engaged in the conflict to cease fire across all regions for two weeks so that the complete end of the Iran war can be achieved through diplomatic means. He noted that diplomatic efforts to peacefully resolve the ongoing war in the Middle East are steadily moving forward and are expected to achieve substantive results in the near future. He also called on Iran to open the Strait of Hormuz within the next two weeks as a goodwill gesture.

EIA: Even if the Strait of Hormuz reopens, oil prices may still rise in the coming months. The U.S. Energy Information Administration (EIA) said Tuesday that even if the Strait of Hormuz is reopened, oil prices may still continue to rise over the next few months. The agency currently expects that this year’s average Brent crude spot price will be $96 per barrel, higher than its prior forecast of $78.84, and that retail gasoline and diesel prices will continue to rise. The agency said that even if the war ends, it will still take months for oil transportation through the Strait of Hormuz to fully recover; during this period, oil prices will remain elevated until oil transportation fully recovers and Middle East oil-producing countries restore normal production. EIA said: “Just as we have never seen this strait close before, we have never seen it reopen either. What it will look like specifically remains to be seen. Throughout the forecast period, we will maintain a risk premium for crude oil prices because we expect uncertainty about future supply disruptions to keep oil prices above pre-conflict levels.”

Fed’s Goolsbee: The stagflation shock caused by the Iran conflict puts the Fed in a difficult position. Fed Chair Goolsbee said he is concerned that the Iran war will not only slow economic growth but also push up the inflation rate, putting the Fed in a tricky situation because there is no clear “operational playbook” to guide how it should respond. Goolsbee said, “What I’m most worried about right now is that we have to deal with the coming oil crisis, which will cause prices to rise in the form of stagflation. Tariffs caused prices to skyrocket, but prices should have gradually come down, whereas now the shock has arrived before the effects have even faded.”

[Company News]

Pimco considers $14 billion in debt financing for Oracle data centers. According to people familiar with the matter, Pacific Investment Management Company (Pimco) is considering providing $14 billion in debt financing for Oracle (ORCL.US) data centers. If the deal is ultimately reached, the bond giant would become a primary supporter of Oracle’s data center campus in Saling Township, Michigan. Oracle plans to provide services for OpenAI applications within the campus. People familiar with the matter said the financing could be structured as bonds, and Pimco may sell part of the bonds to other investors.

Apple’s foldable iPhone is still expected to launch in September as scheduled. According to people familiar with the matter, Apple (AAPL.US)’s first foldable phone is expected to be released in the usual iPhone launch window later this year, which removes concerns about major production issues. People familiar said the company plans to launch this foldable model in September, and will also roll out iPhone 18 Pro and 18 Pro Max at the same time. Previously, a report from Nikkei said Apple encountered some difficulties during the engineering testing phase of the phone, which could delay the production and shipping schedule. After the news came out, Apple’s stock price fell as much as 5.1%. Although the complexity of the new display and materials may restrict initial supply for a few weeks, the people said Apple is currently making plans to release the device at a time close to or slightly later than the launch of the company’s new non-foldable lineup products. However, there are still six months until the launch, and production has not yet ramped up fully. This means the specific timeline has not been finalized.