Netflix (NFLX.O) to launch a curated video service in the US, Canada, UK, Ireland, Australia and New Zealand.

US-Iran tensions have become a catalyst for tech valuation compression. The recent AI Capex-driven rally depended on low-rate liquidity and discounted long-term cashflows; escalating tensions that raise inf upside risks have prompted a bear-steepening of the long-end US Treasury curve, lifting equity cost of capital for growth/tech. Global macro hedge funds are rapidly rebalancing—selling growth/tech and buying defensives—rotating capital into hard assets poised to benefit from higher oil prices and increased defense spending.

Equita SIM analyst Paola Carboni said Gucci should benefit from L'Oréal taking over the licence to sell Gucci-branded beauty products one year early after Kering reached an agreement with existing licence holder Coty. Carboni said the accelerated transition should let Gucci tap L'Oréal's marketing firepower and global distribution scale and is expected to boost the brand's visibility and appeal in the medium term.