Canada wholesale inventories rose 1.1% MoM in April; prior +0.3%.

Iran’s deputy foreign minister Gharibabadi said the Islamabad memorandum (an Iran–U.S. understanding) has been finalized and will be signed in Switzerland on June 19. He said two measures take effect immediately from this morning: an immediate, permanent end to hostilities on all fronts, including Lebanon, and the U.S. lifting and terminating its maritime blockade of Iran. Iranian commitments will begin on signing; after a ceasefire, U.S. lifting of the blockade and frozen Iranian assets begin to thaw, both sides will enter a 60‑day negotiation period to finalise an agreement covering nuclear issues, U.S. sanctions relief, reconstruction of Iran’s economic mechanisms and verification arrangements. Gharibabadi warned Iran will respond if the other side defaults and said Iranian forces remain “finger on the trigger.” Iran’s Supreme National Security Council will issue a related statement; Iran said its gains far exceed its commitments.

Anhui Provincial Key Laboratory for Quantum Computing Chips said China's BenYuan Wukong series of domestically developed superconducting quantum computers has cumulatively completed over 1 million global quantum computing tasks, continuing to deliver stable, reliable autonomous quantum compute capacity to international users. The systems incorporate a post-quantum cryptography (PQC) protection framework and have achieved coordination between compute supply and security protection ('spear' and 'shield'), preliminarily building an attack-and-defense-capable quantum computing service platform.