Welcome to Markets Desk, your midday read on what's moving markets and making headlines.
The biggest macro story right now is out of the Middle East, where proposed Iran-U.S. nuclear talks are reportedly tied to a deal that would reopen the Strait of Hormuz and lift oil sanctions. President Trump confirmed the strait would open upon signing. That's a significant supply signal for crude markets, and traders are watching closely for any confirmation of a formal agreement.
Shifting to tech, Meta's Mark Zuckerberg is making waves in the AI talent conversation, telling the No Priors podcast that breakthroughs don't require massive research teams — just a dozen or so truly strong researchers. That framing matters because it shapes how investors think about Meta's AI cost structure and its ability to compete with larger, more expensive build-outs at rivals like OpenAI and Google.
And in the EV space, Rivian officially began deliveries of its R two SUV this week. CEO RJ Scaringe made clear the design was deliberately differentiated from Tesla's Model Y, citing consumer choice and brand identity as the driving philosophy. With Rivian still working toward sustained profitability, the R two launch is the most consequential product moment the company has had since its debut.
That's the tape. Markets Desk, signing off the floor.
