Good evening and welcome to Markets Desk.
US forces are conducting sustained strikes against Iran around the clock following the collapse of the ceasefire, with President Trump warning attacks will intensify in the coming days. Iran has responded by targeting commercial vessels and regional allies, injecting serious geopolitical risk premium back into energy markets and rattling sentiment across risk assets globally.
Turning to packaged food, Conagra Brands reported a significant dividend cut alongside a two billion dollar charge, sending a clear warning signal for the broader consumer staples sector. The results reflect mounting pressure from weakening volumes, persistent cost inflation, and a consumer increasingly trading down or walking away from branded goods entirely.
And in a corner of the market that tells you something about where speculative appetite still lives, the launch of leveraged ETFs tied to SK Hynix underscores just how much conviction remains behind the memory chip trade. Investors are reaching for amplified exposure to the AI-driven demand cycle, and Wall Street is more than happy to oblige with the instruments to do it.
That's the tape. Markets Desk, signing off the floor.
