🇪🇺🇺🇸The EU failed to finalize a US trade deal after overnight talks, despite Donald Trump threatening fresh tariffs on the EU’s €1T+ annual auto industry. 🔥 The US and Iran are discussing a 1-page proposal to gradually reopen the Strait of Hormuz and lift the blockade as Donald Trump seeks an exit from the war. 🛢Shell Q1 profit rose to $6.92B (vs $6.1B est.) as war-driven oil volatility boosted trading and refining margins, though buybacks fell to $3B from $3.5B. 📈 Alibaba shares jumped 11% this week vs ~2% for Tencent as investors bet on Alibaba’s chip unit and semiconductor exposure. #MarketNews 📆 CALENDAR FOR TODAY - 07.05.2026 🇺🇸 Unemployment Claims – 15:30 GMT+3 #