Hormuz stand-down and shipping
The U.S. and Iran agreed to halt mutual attacks and resume Doha talks centered on Hormuz navigation. NYK Line separately warned that unresolved mine risk could keep shipping below pre-conflict levels for months.
June 28, 2026 · QQQ/SPY Market Review · 7 headlines
U.S.-Iran stand-down leaves mine risk unresolved as AI supply plans broaden
Markets were closed, leaving QQQ at 705.84 and SPY at 729.09 from Friday's regular close. A renewed U.S.-Iran stand-down and planned Doha talks eased the escalation sequence, although mine risk still threatened Hormuz shipping. A coming PCE methodology change and new AI capacity moves from Google, Apple, Samsung, and SK Hynix rounded out Sunday's context.
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What shaped the session
Inflation methodology
The BEA plans to change the methodology for three PCE components on September 30. Estimates in the local evidence indicate the change could lower reported May core PCE inflation.
AI capacity and supply
Google reportedly limited Meta's Gemini access as demand tightened capacity. Apple was reported to be considering Chinese memory supply, while South Korea announced a USD 520 billion AI initiative with four new Samsung and SK Hynix chip plants.
Key news
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