The global macro picture is shifting. Trump's remarks regarding potential action on Iranian oil are injecting uncertainty into energy markets, contributing to volatility. While oil prices have dipped below $100, the risk of geopolitical disruption remains a key concern. This situation complicates the outlook for sectors reliant on energy inputs and adds to existing inflationary pressures. Gold prices, which previously surged 5.2% to $1,770 per ounce, experienced some pullback as the market digested the news, underscoring complex dynamics in commodity markets during geopolitical events. Silver prices also saw notable movement, jumping 8.1% to $18.42.
In the tech sector, AMD has resolved its patent dispute with Adeia, leading to significant movement in both stocks. ADEA surged 8.82% to $21.62 following the multi-year licensing agreement, while AMD saw a more modest gain of 2.44% to $197.14. This agreement unlocks key intellectual property for AMD's "3D V-Cache" and hybrid bonding technology. Meanwhile, the Trump administration is reportedly considering new restrictions on exports of advanced AI chips, potentially impacting companies like NVDA, which saw its stock decline -2.94% to $177.89.
Overall, US indices experienced mixed performance. The SPY decreased -1.31% to $672.38, while the DIA fell -0.96% to $475.23. The tech-heavy QQQ also declined -1.50% to $599.75. Small caps, as represented by the IWM, underperformed, dropping -2.29% to $250.89. These movements reflect a combination of factors, including geopolitical anxieties, sector-specific developments in technology, and broader market sentiment.
