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On April 7th, the US and Iran agreed to a two-week ceasefire, causing international oil prices to plummet nearly 15%. Although the market reacted strongly and risk premiums declined, the situation of limited energy supply still persists, and short-term oil price volatility remains high. The ceasefire has not fundamentally improved the supply and demand balance and may also drive the adoption of alternative energy technologies.

China Aluminum Industry expects a net profit of 5.3B to 5.59B yuan in the first quarter of 2026, a year-on-year increase of 50% to 58%, demonstrating strong profitability and market performance. The company has achieved significant results in cost control and quality management by improving capacity utilization and self-mining ratio, further enhancing its market competitiveness.

Over the past year, Silicon Valley giants have been on the move. For Zuckerberg and Musk, the challenges are not only about computing power but also about underlying energy infrastructure.
To address this issue, Musk bought an entire power plant overseas and shipped it back to the U.S., frequently sending teams to China to research and purchase photovoltaic equipment. Meta, represented by Zuckerberg, signed at least three major nuclear energy contracts, and Google invested $4.8 billion to acquire a nuclear power plant.
It can be said that in the U.S., building a power grid takes seven years, yet Silicon Valley giants cannot wait even a day.
The explosive growth in training and inference demands of large models has caused data centers' need for stable, low-latency, and sustainable power to far surpass traditional internet infrastructure. This has further compelled countries' power grids to undergo deep transformations in transmission and distribution capacity, energy storage technology, renewable energy absorption, and “electricity-computation” collaborative management.
Meanwhile, power resources themselves are beginning to transform into new strategic assets, with nations and regions...

Animal testing has long been considered the "safety foundation" of new drug development.
But with the release of related roadmaps by regulatory agencies, all of this is quietly changing.
On April 10, 2025, the FDA issued the "Roadmap for Reducing Animal Testing in Preclinical Safety Studies" (hereinafter referred to as the "Roadmap"), stating that animal testing in preclinical safety studies for monoclonal antibodies (mAbs) and other drugs will be gradually phased out, replaced by more innovative alternative technologies such as organoids.
Now, nearly a year after the policy was introduced, the tangible progress brought about by this "shockwave" is clearly visible.
This change is mainly reflected in two dimensions:
First, regulatory acceptance of new technologies has made substantial moves.
In January of this year, the FDA received a letter of intent for the Liver Organ Chip ISTAND program led by the 3Rs Collaborative (3R Alliance), with participants including Axiom/LifeNet

On Tuesday late at night, the mysterious video generation model HappyHorse-1.0 won first place on the AI evaluation platform Artificial Analysis, with an Elo score of 1357 points. Its underlying development team is a Chinese company or possibly associated with daVinci-MagiHuman. This event demonstrates that open-source models are now on equal footing with closed-source products in user perception for the first time, indicating a potential shift in industry dynamics.

A gaming media company in Shandong used AI to recreate former employees, sparking heated discussion. Workplace professionals feel anxious about this, stemming from the "uncanny valley" effect and the commodification of personal data through surveillance capitalism. Although laws need to clearly define the boundaries of information use, individuals should proactively enhance their own value to resist the risks of datafication.

JPMorgan believes that directly applying the global AI impact to China's gaming market is a mistake. AI's role in China is to amplify the competitive advantage of large operators rather than to be a disruptor. Due to China's game approval system, AI-generated new games face difficulties entering the market. Companies like Tencent and NetEase, which already hold game licenses, will enjoy greater benefits. The application of AI in improving production efficiency, player experience, and competitiveness will further strengthen the market position of these companies.

Alibaba has recently restructured its AI organization, establishing a Technology Committee and upgrading the Large Model Business Unit, emphasizing the close integration of models, infrastructure, and reasoning platforms. CEO Wu Yongming clearly prioritized AI infrastructure, setting a goal for cloud and AI revenue to exceed $100 billion over the next five years, marking Alibaba's full entry into AI combat readiness. Meanwhile, Tencent is also undergoing an AI organizational restructuring, focusing on unified technical infrastructure. Both companies are committed to eliminating internal AI silos and enhancing organizational efficiency and resource integration.

Sunan Bank's new President Wang Liang has received regulatory approval and has extensive experience in Jiangsu's banking industry. He will officially assume office in November 2025, leading this stable listed bank to continue deepening its focus on the local real economy.

The article discusses the complexity of copper price trends, noting that even with logical reasoning, prices may still deviate from expectations. Different economic stages influence copper prices, requiring attention to various factors such as Chinese demand and global PMI. The author analyzes key milestones from 2017 to 2022, revealing the changing logic behind copper prices to help readers understand market dynamics and investment decisions.

"New York Talk · Season 2 Wall Street Frontline Insights"
Guest Instructor Introduction:
Dear Wall Street Insights and New York Talk users, hello. I am pleased to meet you all. Today is April 7th, and I would like to share some insights on the market disturbances at the end of the last quarter, the impact of America First policies on this event, and several possible paths of the Iran conflict's evolution.
First, I will discuss the market disturbance caused by options trading at the end of the last quarter, as mentioned in the previous episode, and how it amplified some information related to the subsequent Iran incident. Additionally, we have talked multiple times about America First policies, including the contradictions between American exceptionalism and American isolationism. What are everyone's views on this war? What is the impact within the United States? With these preliminaries, I will then discuss several possible evolution paths of the Iran conflict.
We know that the entire market reached a peak last Friday.

After the US and Iran agreed to a ceasefire, vessel activities in the Strait of Hormuz resumed, with Greek-flag bulk carriers and oil tankers flying the Liberian flag passing through successively. There are still hundreds of ships navigating in the area.

The Federal Reserve's upcoming meeting minutes will reveal concerns about the Middle East conflict and rising oil prices, which could have a profound impact on future policies. Market expectations of a short-term rate adjustment have diminished, with a clear trend toward long-term policy caution. The balancing act between inflation pressures and economic growth remains particularly critical.

The agreement on the US-Iran ceasefire has boosted market confidence. Tom Lee from Fundstrat believes that the US stock market has bottomed out and may experience a breakout. However, doubts remain about the sustainability of the ceasefire, as Tom Holland from Gavekal points out differences in the US and Iran statements, which could impact the recovery of shipping.

Elon Musk's rocket company SpaceX is about to go public, and it's making quite a splash.
On April 7th, local time, SpaceX brought all 21 investment banks involved in this IPO together in an online meeting to reveal the timeline and progress — this is the first time all the banks have been gathered for a meeting, which in some ways means that the project has officially moved from "planning" to "countdown."
The timeline looks like this:
End of May: Prospectus publicly released
June 7: About 125 analysts meet face-to-face with company management
Week of June 8: Official roadshow begins, rallying global support
June 11: Investor event for approximately 1,500 retail investors worldwide
The lineup of investment banks is also very impressive — Morgan Stanley, Bank of America, Citigroup, J.P. Morgan, and Goldman Sachs lead the consortium, along with 16 other institutions responsible for bookbuilding, retail distribution, and international issuance, basically covering the entire process.

Trump described the Reliance Industries' refinery project in Texas as a "historic $300 billion deal," but the actual investment was only about $40 million. The project is led by "America First Refining," and Trump's figure is based on a 20-year supply and sales framework agreement rather than a precise investment amount. Reliance Industries has not disclosed specific investment details, and the relationship between the two parties is complex, reflecting the political and economic rivalry between the U.S. and India.

The demand for power equipment from AI data centers is driving natural gas generator sets to rapidly replace gas turbines, making them the preferred power source. Due to a surge in orders, the supply and demand imbalance will continue, and equipment prices are expected to rise by 15% to 20% in 2025, with prices remaining high in the coming years. Caterpillar and Weichai Power are seen as core beneficiaries, with the former holding a high market share and the latter having advantages in delivery speed and new product launches.

The explosive expansion of AI infrastructure is creating a structural supply and demand imbalance. Michael Dell, CEO of Dell Technologies, warned that as the memory capacity per accelerator and the deployment scale of data centers expand in tandem, the global AI memory demand will surge 625 times over current levels, and it will take several years for supply to catch up.
Michael Dell made this statement during an industry event hosted by Bank of America on the 7th local time. He said that the memory capacity of each accelerator in AI infrastructure and the overall system size are expanding simultaneously, and the combined effect will create a structural pattern of approximately 625 times growth in total memory demand. He also emphasized, "Expanding memory supply will take several years, but current AI infrastructure demand has not slowed down; we are still in the early stages of technology adoption."
This statement has direct investment implications for the memory market.

UK Prime Minister Rishi Sunak will visit the Gulf region on Wednesday to meet with leaders to promote the permanent opening of the Strait of Hormuz. He welcomes the ceasefire agreement and states that the UK will work with partners to consolidate the peace process. Foreign Secretary James Cleverly will chair a meeting of 35 countries to discuss maritime safety measures in the strait.

Vice President Vance stated that Iran has agreed to open the Strait of Hormuz and reaffirmed that the United States has achieved its military objectives in Iran. Trump called for an honest agreement and warned Iran that lying would have consequences. The international oil prices responded minimally, with U.S. crude dropping nearly 16% intraday.