A streak of light illuminates the sky during a missile attack from Iran to Israel, as seen from Ashkelon, Israel, June 7, 2026.
Amir Cohen | Reuters
Hello, my name is Hui Jie from Singapore. Welcome to another edition of CNBC’s Daily Open.
The “first 100 days” is a benchmark often used by experts and pundits to assess a new administration’s early achievements, governing style, and momentum.
Applying this to the Iran war, which will be in its 100th day this weekend, the report card does not look great. Investors remain on edge with mixed messages from both sides and a start-stop momentum in peace talks.
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What you need to know today
The Iran conflict passed 100 days this weekend. The war was supposed to end in “four to five weeks” and not become a “forever war,” but the end date is becoming increasingly vague.
The US and Iranian governments continue to carry out attacks, most recently on Sunday when Iran fired a missile at Israel.
Additionally, the Strait of Hormuz remains closed, with no prospects for a peace agreement. According to former Swedish Prime Minister Karl Bildt, the first 100 days do not bode well for Washington, which has chosen to start this “war of choice.”
Of course, markets were spooked by this latest test of the uneasy truce, with US futures falling, oil prices rising, and Asian markets starting the week on a bleak note with lower South Korean oil. Kospi It fell more than 8%.
International benchmark Brent crude oil futures rose 2.34% to $93.09, while US West Texas Intermediate futures rose 2.19% to $90.54.
Investors will also keep an eye on Chinese President Xi Jinping’s visit to North Korea, and appreciate that late Friday, India’s economy posted strong GDP growth of 7.8% year-on-year in the three months to March, beating expectations of 7.2%.
Rising oil prices could hit consumer electronics prices as rising tensions in the Middle East affect the supply of resins used to make printed circuit boards, a key part of electronic devices from smartphones to AI servers.
Saudi Arabia’s Jubail Petrochemical and Industrial Park has been shut down, destroying the world’s vital resin trove.
And finally…
SK Hynix and Nvidia announce multi-year technology partnership
Following last week’s visit to Seoul by Nvidia CEO Jensen Hwang, the company is serious, announcing a partnership with South Korean memory chip giant SK Hynix on Monday.
SK Hynix will co-develop memory for a variety of Nvidia platforms, including supercomputers, CPUs, and robotic computing platforms.
This comes after Hwang met with South Korean technology industry heavyweights during his visit, which included a traditional Korean barbecue dinner with leaders of SK Group, LG Group and Naver, a ceremonial baseball pitch, and even an appearance on South Korea’s most popular variety show.
