War On Risk Off Stocks Drop

Trump declared the U.S.–Iran ceasefire "over" at the NATO summit in Ankara, then launched a second day of strikes as markets closed. Brent crude surged 5.9% to $78.55 after briefly topping $80. The S&P 500 slipped 0.3%, the Dow dropped 1.1%, but the Nasdaq eked out a 0.2% gain as chip stocks bounced 2% off a 14% four-session rout. Fed minutes under new chair Kevin Warsh revealed an evenly split committee on rate hikes. Bond yields jumped, gold slipped, and the inflation trade roared back. In today's call we cover: 00:00 — Iran ceasefire collapse & Trump's NATO press conferences — Oil spike: Brent briefly tops $80, Hormuz traffic still 40–50% of pre-war levels — Chip stocks: Nvidia +3.7% on China H200 approval, SOX +2% bounce — Fed minutes: committee split on hikes, first meeting under Warsh — IMF cuts global growth to 3.0%, Australia to 1.9% — Bond yields, gold, defence stocks & the U.S. debt clock — ASX outlook: futures down 49 points, China CPI/PPI due — Earnings season risks: hyperscaler CapEx scrutiny, put-call ratio at record lows — Portfolio positioning: structured products, hedging & buying the dip S&P 500: 7,481.46 (−0.3%) | Dow: 52,348.09 (−1.1%) | Nasdaq: 25,870.65 (+0.2%) | Brent: $78.55 (+5.9%) | WTI: $74.25 (+5.4%) | Gold: $4,081.35 (−0.6%) | 10yr UST: 4.57% | ASX 200 futures: 8,706 (−0.6%) Subscribe for daily market updates. 🔗 mpcmarkets.com.au/podcast 🎧 Spotify: https://open.spotify.com/show/1igBks6... 🍎 Apple Podcasts: https://podcasts.apple.com/us/podcast... #IranWar #OilPrices #StockMarket #FederalReserve #ASX #Nvidia #NATO #MorningCall #MPCMarkets