Good morning and welcome to Markets Desk, your Friday market open.
Geopolitical risk is unwinding fast, and markets are feeling it. President Trump cancelled a third straight day of planned strikes on Iran, claiming a peace deal is close with a signing time and place to be announced shortly. European equities are pointing firmly higher at the open, and Indian shares surged on the news, with traders rotating back into risk as the threat of a broader Middle East escalation fades for now.
Turning to biotech, HUTCHMED is moving sharply higher after its drug Sovleplenib hit its primary endpoint in a Phase Three trial targeting warm antibody autoimmune hemolytic anemia. The compound posted a sixty-six percent durable response rate, a meaningful result in a condition with limited treatment options, and investors are rewarding the milestone with conviction.
And in the AI infrastructure space, Super Micro Computer is under pressure after announcing a fresh share offering to fund its aggressive growth plans. Dilution is never a welcome headline, and the stock is selling off as investors weigh the company's long-term ambitions against the near-term cost to existing shareholders. The question now is whether this pullback opens a re-entry point or signals deeper concerns about execution.
That's the tape. Markets Desk, signing off the floor.
