Happy Monday. Equities jumped after President Donald Trump announced that the U.S. had agreed on a peace framework with Iran, at long last. The Nasdaq rose nearly 3%, while the S&P 500 rose nearly 2% as market embraced tech stocks, cyclicals, and industrials in a risk-on rally.
Of course, peace is a welcome development, but there J.P. Morgan warns it might not necessarily be enough alone to high-flying oil markets. While oil prices dropped, it could take months for the critical Strait of Hormuz to clear its months-long backlog and return to normal traffic levels.
Anthropic's long-awaited (and feared) Fable 5 and Mythos 5 model were taken offline on Friday after the U.S. Government asked them to restrict access because of "national security" concerns. Supposedly, major investor Amazon is to partially to blame, with the tech giant reportedly advising the U.S. Government that they were able to "jailbreak" the model. Whether true or not, the restrictions on the model have massive ramifications for the AI boom, and obviously, the relationship between the two massive tech firms.
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