Abeer Abu Omar reports that President Trump claims a deal with Iran is close, including an agreement on enriched uranium and reopening the Strait of Hormuz. However, Iran has not confirmed, and key sticking points remain, including Israel's role in Lebanon. Markets are buying the optimism, but the situation remains uncertain.

Ven Ram views the rally as short-term relief after a wobbly period. He warns that AI valuations are becoming stretched and frothy. The SpaceX IPO will be a liquidity event, but after that and other tech IPOs, a significant sell-off is possible. He also notes the ECB's hawkish stance and expects more rate hikes globally.

Matthew Bloxham highlights the unconventional nature of the SpaceX IPO, including its size, the blurring of science fiction and science facts, and governance issues. He notes massive retail demand ($100B in orders) and the importance of the Starship rocket. He also discusses the potential for a future merger with Tesla.

ECB Governing Council member Primož Dolenc defends the rate hike, stating it was data-driven. He warns that services inflation is stubborn at 3.5% and hard to fight. He acknowledges that even if the Iran war ends, inflation will remain higher than anticipated this year. He also expresses vigilance about frothy financial markets.

Anders Schelde explains why his pension fund is blacklisting SpaceX, citing catastrophic governance structures and a valuation that is too high. He believes the IPO price is far from what fundamentals justify, and that the hype is driven by the Musk brand and FOMO. He also discusses the broader risks of frothy tech valuations and the need for European investors to support European authority.