Weekend conflict briefly reignites, market fluctuates between ceasefire hopes and tech concerns

⑴ Over the weekend, the global markets experienced a brief geopolitical test. After the US launched a new round of attacks on Iran, both sides quickly agreed to cease hostilities and resume peace talks. Brent crude oil remained below $73 per barrel and had already declined by over 10% last week due to the recovery of Gulf shipping. ⑵ The technology sector remains tense. Chip stocks have experienced profit-taking after an astonishing surge in the first quarter. The market is unsettled by news such as Apple raising product prices due to soaring memory costs and a potential postponement of OpenAI's planned IPO. Major Asian stock indices closed lower on Monday, while Wall Street futures and European markets remained comparatively stable. ⑶ The US dollar was boosted by bets on a Federal Reserve rate hike and is set to post its biggest monthly gain in almost a year. The June non-farm payroll report will be released this Thursday, providing further clues on the Federal Reserve's policy outlook. New Chair Walsh will deliver a speech at the European Central Bank Sintra Forum on Wednesday, while leading candidate for the next UK prime minister, Burnham, will deliver his first policy speech on Monday.