From TACO to NACHO, the trading logic has shifted—how long can tech stocks remain 'immune' to high oil prices?

① The pricing logic for Middle East geopolitical risk has shifted from 'TACO' to 'NACHO,' with the continued blockade of the Strait of Hormuz increasingly viewed as a new normal; ② U.S. inflation data have repeatedly surprised on the upside amid energy price shocks; ③ When will NACHO recede? Institutions indicate the key lies in whether the duration of the blockade can outlast the depletion of existing buffers, suggesting little near-term change.

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**** on the Middle East situation: It is imperative to achieve a comprehensive cessation of hostilities without delay; resuming conflict is even less acceptable, and adherence to negotiations is especially crucial.

**** stated that the situation in the Middle East Gulf region is at a critical juncture between war and peace. Achieving a comprehensive cessation of hostilities is urgently needed, resuming conflict is unacceptable, and maintaining negotiations is especially important.

Xinhua News Agency11:59

U.S. Vice President says U.S.-Iran negotiations have made 'significant progress'

On May 19 local time, U.S. Vice President Vance stated at a White House press briefing that direct negotiations between the United States and Iran have made “significant progress” in establishing communication channels and advancing the diplomatic process, though he declined to disclose specific details of the current behind-the-scenes consultations. Vance noted that the U.S. is still engaged in extensive “back-and-forth communications” with Iran and described the talks as “making good progress.” He revealed that he, along with Trump’s son-in-law Kushner and special envoy Witkoff, had previously held lengthy discussions with Iranian officials, primarily aimed at two objectives: first, to reestablish direct communication channels between the two countries that had been severed for a long time; and second, to lay the groundwork for subsequent formal negotiations. He said the negotiating team was not initially “very confident” about reaching an agreement quickly but believed they could “take a significant step t

CCTV News03:00

Double blow from Hormuz and El Niño: Citi warns of a super-inflation storm in commodities!

Two epic forces are simultaneously squeezing the global commodities market.

wallstreetcn16:51

Express News | Mediators believe that U.S.-Iran negotiations have made little to no progress, as Iran continues to hold firm on its core demands.

Breakings02:32

Trump stated that the U.S. might again "heavily strike" Iran, saying he was once just one hour away from issuing the order; Iran says it is prepared to respond to any military aggression.

Trump stated that it remains uncertain whether a strike will occur, giving Iran 'a limited amount of time'—roughly two to three days, possibly extending into early next week—to reach an agreement. Iran’s Deputy Foreign Minister said surrender holds no meaning for Tehran; they will either prevail or become martyrs. Iranian military officials added that if adversaries miscalculate again and launch another attack, Iran will open new fronts using new tools and methods.

wallstreetcn01:53