Good afternoon and welcome to Markets Desk.
Western Digital led the S&P five hundred higher on Monday, topping the index's gainers as investors continue to warm up to storage names. The thesis is straightforward — pricing power is returning to the sector, and the market is finally pricing that in. Analysts see room to run as data demand keeps climbing.
Shifting to macro, the dollar pulled back to a one-week low after the United States and Iran announced a deal to end their conflict. Risk appetite surged on the news, pulling liquidity demand away from the greenback. The dollar index finished down roughly a tenth of a percent, a modest move that nonetheless signals the market read this as a genuine de-escalation.
And in the EV space, Rivian's CEO RJ Scaringe confirmed the company will roll out supervised self-driving technology later this year, with hands-free, eyes-off capability targeted for twenty twenty seven. It's a direct challenge to Tesla's full self-driving product and signals Rivian is competing on software, not just hardware, as the autonomous race accelerates across the industry.
That's the tape. Markets Desk, signing off the floor.
