US, Iran Trade Deal Drafts; Israel Expands Lebanon Assault | Horizons Middle East & Africa 6/1/2026
Speakers
Paul Mackel
— HSBC Global Head of FX Research
Alia Moubayed
— Jefferies International EMEA Economics & Strategy Managing Director
Summary
The episode covers stalled US-Iran ceasefire talks, record stock levels driven by AI and semiconductor stocks, NVIDIA's Vera Rubin production, oil price movements amidst geopolitical uncertainty, Israel's expansion into Lebanon, and anticipation of a SpaceX IPO reshaping Wall Street.
- US and Iran exchange draft proposals for ceasefire extension and Strait of Hormuz reopening but progress remains unclear.
- Stocks hit all-time highs led by AI and semiconductor companies, with Nvidia and Micron as top contributors.
- NVIDIA CEO Jensen Huang announces Vera Rubin system is now in full production with a supply chain twice as large as Grace Blackwell.
- Oil prices rise from six-week low as US-Iran deal uncertainty persists and tanker traffic remains limited.
- Israel expands ground assault into Lebanon, complicating broader peace negotiations.
- AfDB assesses support for Ebola response in Africa.
- SpaceX prepares for potential record-breaking IPO, forcing Wall Street adaptation with new ETF products.
- Qatar's fiscal position deteriorates significantly due to Strait of Hormuz closure, while Oman and Saudi Arabia show more resilience.
