Good afternoon and welcome to Markets Desk. Here is where things stand.
Equities are holding modest gains this session, with the S&P five hundred up roughly a fifth of a percent and the Nasdaq essentially flat. The driver is familiar — easing geopolitical tension has pulled crude prices lower, relieving pressure on consumer and industrial costs and giving equity bulls just enough room to stay positive.
That geopolitical backdrop connects directly to the Iran situation, where the picture remains complicated. Senior Iranian officials, including the president and central bank chief, reportedly told Supreme Leader Khamenei that the U.S. naval blockade has the economy on its knees. Trump has declared the ceasefire over but says nuclear talks will continue — leaving markets in a holding pattern on oil supply risk and regional stability.
Meanwhile, on the technology side, Instagram chief Adam Mosseri offered a candid look at Meta's AI cost discipline, saying the division has reined in spending by shutting down what he called the silly things burning through tokens. He acknowledged near-term volatility but expects costs to fall over time — a signal that even the largest platforms are now actively managing AI efficiency, not just capability.
That's the tape. Markets Desk, signing off the floor.
