DBI Today: 51.6 (+0.5)
Wall Street partied like the war was over — the S&P 500, Nasdaq and Russell 2000 all closed at record highs on Thursday, fuelled by relief over the US-Iran ceasefire deal and a semiconductor rally after Intel's chip-design tie-up with Apple. The Daily Business Index, our 0–100 daily readout of global business health where 50 is neutral, ticked up to 51.6. But the optimism didn't travel well. Planned follow-up talks between the US and Iran in Switzerland were cancelled over the weekend, Tehran started demanding its own approval on shipping insurance through the Strait of Hormuz, and outbound tankers stopped moving on Friday morning. The rally is real. So is the asterisk next to it.
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