TACO by Proxy. Trump’s Deadline Saved by Pakistan Request

Key TakeawaysUS equities reversed early losses to finish near flat — S&P 500 +0.1% to 6,617.74, Nasdaq +0.1% to 22,017.85, Dow -0.2% to 46,584.33 — as Pakistan’s ceasefire request sparked a late-session relief rally.Pakistan PM Shehbaz Sharif requested Trump extend the Iran Hormuz deadline by two weeks and urged all parties to observe a ceasefire, with Tehran said to be “positively reviewing” the proposal; Trump described the talks as “heated negotiations.”Brent crude fell 2.1% to $107.48 intraday before sliding further to $104.50 in post-settlement trade; WTI edged down 0.1% to $112.29; the EIA raised its 2026 average WTI forecast 22% to $96/bbl for the year.Broadcom surged more than 6% after inking a long-term AI chip supply agreement with Google through 2031, while UnitedHealth jumped over 9% and Humana advanced ~8% on a higher-than-expected Medicare Advantage rate increase for 2027.ASX SPI futures +0.2% to 8,775; AUD +0.8% among session’s biggest FX gainers ahead of today’s RBA policy decision, with Friday’s US CPI print the next key global data event.