Markets cheered tentative US-China progress as Trump rolled back some tariffs, with a deal nearing approval.  
But optimism stayed muted as the US vowed not to share top-tier chips, highlighting supply chain splits.  
Geopolitical tensions flared with US diplomats leaving the Middle East amid Iran-Israel strike fears, spiking oil prices 7-9%.  
Bets on Brainard replacing Powell as Fed chair faded after she pledged to stay at Treasury.  
Trump pushed for a "full 100bps cut" post-soft CPI, citing