TRUMP-XI SUMMIT UNLIKELY TO SHIFT IRAN CONFLICT President Trump’s meeting with Chinese leader Xi Jinping is not expected to break the U.S.-Iran deadlock, according to Citi Research. The bank expects shipping disruptions in the Strait of Hormuz to continue intermittently for the next 4–8 weeks, warning that Iran may extend tensions to gain leverage and revenue. Citi also maintained its bullish oil price outlook, saying supply pressures will remain a key factor in negotiations.

$NVDA - NVIDIA WARNS CHINA CHIP RULES COULD KILL EXPORT PLAN Nvidia has warned the Trump administration that new chip export rules for China are too strict and could destroy demand for its H200 AI chips. The company says the requirements for buyers like Alibaba and ByteDance are so burdensome they could derail Trump’s plan for the U.S. to profit from the exports. Nvidia also cautioned the rules resemble past restrictions and could end up benefiting China’s Huawei instead.