June 2nd Overnight News Summary

1. On June 1st, local time, U.S. President Trump stated that he expects to reach an agreement with Iran in the "coming week" to extend the current ceasefire arrangement and reopen the Strait of Hormuz. 2. Data released by the U.S. Department of Energy on that day showed that strategic oil reserves decreased by 8 million barrels of crude oil last week. This follows decreases of 9.1 million barrels and a record-breaking 9.9 million barrels in the previous two weeks. As of now, strategic oil reserve inventory has dropped to 357.1 million barrels, the lowest level since January 2024. 3. Israeli Prime Minister Netanyahu confirmed through social media that he had a phone call with U.S. President Trump that evening. During the call, he informed Trump that if Hezbollah continues to attack Israeli cities and civilians, Israel will strike relevant targets in Beirut, the capital of Lebanon. He stated, "Our position has not changed. Meanwhile, the Israeli Defense Forces will continue their operations in southern Lebanon as planned." 4. On June 1st, the office of the President of Lebanon issued a statement confirming that Hezbollah has pledged to stop attacks on Israel. President Trump had also announced this news earlier. 5. On June 1st, the Iranian Ministry of Foreign Affairs issued a statement regarding the continued violations of the ceasefire agreements by the U.S. and Israel. The statement pointed out that the U.S. and Israel are directly responsible for violating the Iran-U.S. ceasefire agreement and the Lebanon-Israel ceasefire agreement, and the U.S. should bear full responsibility for the consequences of this situation. Iran will defend its own interests when necessary. 6. Leading computer hardware manufacturer Dragon Intelligence and Technology saw a post-market surge of over 35% in stock price, as the company expects strong growth driven by server demand in the next 18 months. 7. Alphabet Inc., the parent company of Google, is raising $80 billion through equity financing, including an investment deal with Berkshire Hathaway, to support its ambitious artificial intelligence spending plans. 8. Anthropic has confidentially submitted a draft IPO registration file, aiming to debut on the U.S. stock market as soon as this fall. The number of shares to be issued and the offering price are yet to be determined. 9. According to an amended S-1 filing submitted by SpaceX, Musk has reached an agreement with underwriters for a lock-up period of 366 days. Without prior written consent from Goldman Sachs, he is not allowed to sell any shares he holds.