The AI Trade Fuels Wall Street and Stabilizes Oil Prices After the Iran Shock, While SK Hynix is Oversubscribed by More Than Seven Times in the Largest US IPO of a Foreign Company – Meta Develops Its Own AI Chip "Iris" and Delta Defies Record Fuel Costs – WD-40 Soars by 16% and Amazon Challenges UPS and FedEx, While the DAX Recovers Slightly Above 25,000 Points After Losing Over 1,000 Points and Salzgitter Jumps by 7%

USA & MACRO-ENVIRONMENT Wall Street struggles for direction as the week ends, oscillating between small gains and losses The S&P 500 maintains a slight increase of +0.02%, while the Nasdaq 100 struggles at -0.32% – a signal of growing caution after technology stocks had pushed prices up the day before. The dominant theme of the day is the historic US IPO of SK Hynix, which rekindles enthusiasm around the AI memory trade and underscores retail investors' appetite for leveraged bets. Investors are simultaneously heading towards a potentially...