The Dow hit a fresh record as oil cratered another 5.5% on an unconfirmed Iran report that Hormuz traffic would normalize within a month, while a weak 5-year auction kept the bond market's higher-for-longer signal alive.

Brent crude crashed ~6% on US–Iran de-escalation hopes, lifting Asia and Europe to records while US markets sat out Memorial Day. What it means for Brazil.

Rio Times Global Economy Briefing The Big Three Chips drove records. Micron jumped about 19% and topped a $1 trillion valuation on a UBS upgrade, lift