UBS Global Wealth Management strategists said in a report they expect AI-driven industry growth to support higher long-term equity returns, but recommend investors take a diversified approach to AI exposure. They favor semiconductor equipment, foundries, CPU-related compute infrastructure and storage chips, and see defensive plays in data-center REITs and payment networks.

IEA monthly report: global oil output about 9.4 mln b/d below pre-war levels.

A US official said diplomatic efforts remain underway to defuse US‑Iran tensions and that Washington has been deliberately pausing strikes after attacks to avoid escalation and preserve space for diplomacy while keeping a target list as leverage. Multiple officials said US forces were prepared to strike Iran that night if needed but were allowing diplomacy to lead. Carrier Abraham Lincoln, deployed in the Arabian Sea, loaded weapons and conducted flight drills; the carrier captain told thousands aboard the situation was heating up and to maintain readiness. US officials said Iranian claims that US forces carried out additional strikes that night were inaccurate; the situation remains fluid and strikes could resume if necessary.