Markets Due to the U.S. Memorial Day holiday, U.S. stock markets were closed. U.S. claims of progress on reopening the Strait of Hormuz agreement led to declines in Brent and WTI crude oil prices. European stock markets rose on hopes of an Iran agreement. Macro Sources: U.S. and Iran have reached an understanding on unfreezing assets. Iranian Foreign Ministry: China has played a positive role in promoting ceasefire negotiations. Trump: Iran's enriched uranium must either be transferred to the U.S. or destroyed. Trump stated Iran's enriched uranium could be shipped elsewhere for destruction. Trump said negotiations with Iran are progressing smoothly. Trump demanded immediate signing of the "Abraham Accords"; Saudi Arabia responded. Iran will open the Strait of Hormuz 30 days after a peace agreement is reached. Iranian official: Armed forces are on highest alert and will respond if enemies make a mistake. Netanyahu: Israel will increase strikes against Hezbollah. Mexico's Q1 foreign direct investment reached $23.59 billion. Explosions reported near Iran's Bandar Abbas and coastal areas around the Strait of Hormuz. Russia threatened "systematic strikes" on Kyiv, urging foreigners to evacuate. Iranian senior representative is discussing a potential peace agreement with Qatar's Prime Minister. Iranian President ordered: Restore internet to pre-January mass outage state. Trump: Demanded countries immediately sign the "Abraham Accords." Companies Ferrari NV unveiled its first all-electric vehicle, the Luce. The EU plans to fine Alphabet (Google) hundreds of millions of euros. Commentary Trump pushes Saudi Arabia to recognize Israel to align with Iran deal. Trump said Iran negotiations are "moving smoothly," bringing a deal closer. U.S.-Iran consultations continue; U.S. officials express optimism about resolving disputes. Iran's Supreme National Security Council Secretary: Iran "will not surrender or retreat." Bank of France Governor Villeroy stated the ECB remains vigilant, no second-round effects seen yet. Behind the memory chip stock rally: Market observers warn "the cycle never disappears." Dollar falls, optimism over Hormuz deal pushes oil below $100. Brazilian President Lula begins preventive radiotherapy after removal of skin lesion. Iranian delegation concludes talks in Qatar, will return to Tehran. Capital Economics: Even if Middle East conflict ends, rate cuts in 2026 are unlikely.