Trump's TACO, US-Iran deal expected, TSMC price hike, Google TPU with Samsung, SpaceX IPO.

Trump Claims Iran Has Approved US-Iran Agreement

On June 11, President Trump announced that a "great agreement" regarding Iran has been reached, with final documents nearing completion. He indicated that the agreement could be signed in Europe over the weekend, with Vice President Pence in attendance. Trump stated that Iran's Supreme Leader has agreed to the deal, which he described as a strong and detailed memorandum. He emphasized that Iran will not possess nuclear weapons and that the Strait of Hormuz will be opened immediately upon signing.

Iran's Approval and US Military Actions

Iran's Fars News Agency reported a high likelihood of approval for the agreement, as the US has accepted Iran's proposed text. Trump also announced the cancellation of a planned military strike against Iran, stating that discussions have been approved by all relevant parties, including the US, Israel, and several Middle Eastern nations. He noted that maritime blockades will remain in effect until the agreement is formally implemented.

Market Reactions and Commodity Trading

The Chicago Mercantile Exchange (CME) announced plans to offer 24/7 trading for new smaller-sized oil and gold contracts, set to launch on August 30 and July 26, respectively. This move aims to provide traders with the ability to manage risk amid geopolitical uncertainties.

Gold Prices and Foreign Investment Trends

Spot gold prices have risen above $4200, gaining approximately $130 in a single day. Meanwhile, foreign investors have sold Japanese stocks for the second consecutive week, with net sales reaching 701 billion yen ($4.37 billion). This trend follows concerns over the tech sector's performance and geopolitical tensions.

US Stock Market Performance

The US stock market saw all three major indices close higher, with the Dow Jones up 1.86%, the Nasdaq rising 2.54%, and the S&P 500 increasing by 1.75%. Notable tech stocks like Micron Technology and Intel saw significant gains, while Oracle's shares fell over 8% due to concerns about capital expenditures.

Semiconductor Sector Developments

The Philadelphia Semiconductor Index surged by 7.91%, marking its largest single-day gain since April 2025. Companies like Micron and Intel experienced substantial increases in their stock prices.

SpaceX IPO and Future Prospects

SpaceX plans to sell $75 billion worth of stock through an IPO, attracting over $70 billion in retail investor subscriptions. Ark Investment Management estimates that SpaceX could generate $300 billion in annual revenue by deploying orbital data centers.

Intel's Rating Upgrade

Bank of America upgraded Intel's rating to "Buy," citing confidence in the company's long-term profitability, particularly in its server chip and foundry businesses.

Conclusion

The developments surrounding the US-Iran agreement, market reactions, and significant movements in the tech and semiconductor sectors highlight the ongoing volatility and opportunities in the financial landscape.