US equity futures are modestly higher, Asian markets are mostly lower but off their worst levels while European equities are firmer. Markets are trading more defensively amid persistent geopolitical uncertainty as US launched another wave strikes against Iran, targeting air defense systems, radars and drone command and control units. Crude gave back some of its earlier gains after CENTCOM declared mission complete. Trump had flagged an end to bombing after claiming Iran asked him to stop while warning strikes will restart unless Iran signs agreement. Additional headwinds include renewed tariff discussions, increased equity supply, and pockets of stress in private credit, while macro data continues to point to a resilient but cautious economic backdrop.Companies Mentioned: SpaceX, Microsoft, Anthropic, OpenAI
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