Tentative US-Iran Deal & SpaceX Cuts Valuation | The Pulse 5/29/2026
Speakers
Seema Shah
— Chief Global Strategist, Principal Asset Management
Alberto Musalem
— St. Louis Fed President
Aditi Venkatram
— Managing Director, Equity Capital Markets, Jefferies
Summary
The video covers a tentative US-Iran ceasefire deal leading to oil declines, SpaceX cutting its IPO valuation, and the ongoing AI-driven equity market resilience. Fed officials signal a potential rate hike, gold struggles, and defense spending remains a focus.
- US and Iran reached a tentative 60-day ceasefire extension pending Trump approval.
- Oil prices fell, with Brent crude on track for its biggest monthly drop since 2020.
- SpaceX cut its IPO valuation target to at least $1.8 trillion from $2 trillion.
- Anthropic's valuation hit $965 billion after its latest funding round.
- Blue Origin's New Glenn rocket exploded during testing.
- St. Louis Fed President said a rate hike is possible if inflation persists.
- AI rally continues to support equity markets with strong earnings.
- Gold under pressure due to central bank currency defense and India import restrictions.
Trade Ideas
Gold unattractive, no catalyst.
Gold is struggling because central banks are defending currencies and reducing reserves, India has import blockages, ETF holdings are lowering, and there is no major catalyst to drive it higher. We are not focusing on it.
Up Next
This Bloomberg Markets video, published May 29, 2026, features Seema Shah discussing GLD. 1 trade idea extracted by AI with direction and confidence scoring.
Speakers: Seema Shah · Tickers: GLD