Hourly Briefing 2026-06-12 23:00 CST
Hormuz Strait traffic restored to ~50%, SpaceX IPO opens at ~$172, Israel blocks Iran asset unfreezing in US-Iran deal
π° Hourly Briefing | 2026-06-12 23:00 CST
π Market Snapshot
- π₯ Gold XAUUSD: $4,206.79/oz, -0.11%, range $4,170β$4,247, volatile session
- π’οΈ WTI Crude USOIL: $85.558/bbl, -1.85%, range $83.8β$87.8, gave back gains
- π S&P 500 and Nasdaq turned negative intraday; Dow still up 0.4%
- π₯ Fear & Greed Index released (early US session), exact reading pending
π₯ Key News This Hour
Hormuz Strait traffic restored to ~50% β US Energy Secretary Wright said ~7M bbl/day of oil and fuel are now flowing through the strait, about half of the backlog from the Iran war. Iranian crude still blocked. Oil retreated on easing supply concerns.
SpaceX IPO first-day indicator at ~$172 β Priced at $135/share, opening reference range $170β$175, a ~27% premium. Musk participated in investor meetings this week. Analysts say the Cursor acquisition solidifies SpaceX’s positioning as an AI infrastructure provider.
Israel moves to block US-Iran deal β Israeli defense minister took a hard line: no unfreezing of $24B in Iranian assets, no withdrawal from Lebanon/Syria/Gaza security zones, and military readiness against Iran’s nuclear program. The ceasefire deal faces a critical obstacle.
US Energy Secretaryε―ι葨ζ β No oil export ban; wants strategic reserves fully filled; considering summer gas tax relief; partial Iran sanctions relief possible if deal reached.
Consumer sentiment rebounds for first time in 4 months β UMich June preliminary rose from May’s record low, as falling gas prices provided relief to inflation-hit Americans.
π§ Market Assessment
US-Iran negotiations are at a critical juncture β Hormuz traffic restoration is encouraging, but Israel’s hardline obstruction casts doubt on the deal’s viability.
SpaceX’s 27% IPO premium reflects AI infrastructure enthusiasm, but also underscores persistent tech valuation pressure.
Oil fell nearly 2% as Hormuz recovery and strategic reserve rhetoric eased supply anxiety, though the situation remains far from stable.
US equities turning negative intraday signals a market caught between fear and greed, with sticky CPI and rate cut expectations pushed to 2027 weighing on risk appetite.
The modest consumer sentiment recovery is a positive signal, but sustainability remains to be seen.
β° Upcoming Key Data
- π Next Monday: TBD
- π Week in focus: US CPI/PPI came in hot, ECB raised rates for first time in 3 years, Fed June FOMC meeting approaching