Good evening and welcome to Markets Desk, your close on the stories moving markets and the world right now.
The Middle East is front and center tonight as Iran launched drone and missile strikes against Bahrain and Kuwait Sunday, retaliating for U.S. airstrikes on Iranian territory. Tehran is now threatening a complete halt to peace negotiations, and with the Strait of Hormuz still in dispute, energy markets face a serious supply risk that traders cannot ignore.
Pivoting to semiconductors, Micron is on the verge of a historic earnings inflection. Big Tech's insatiable appetite for AI memory is driving the company toward profit levels that would place it third among all U.S. corporations, trailing only Nvidia and Alphabet. That is a dramatic reversal for a company that was bleeding red just two years ago.
And staying in the AI supply chain, SpaceX has quietly tested a vehicle called Starfall, an orbital cargo return platform capable of delivering goods anywhere on Earth from space. The military logistics implications are significant, and for investors watching the commercialization of low Earth orbit, this represents a meaningful first-mover advantage in a category that barely existed last year.
That's the tape. Markets Desk, signing off the floor.
