WS #10057

The dominant signal in this window is the release of the full text of the U.S.-Iran Memorandum of Understanding, which includes provisions for ending the war, reopening the Strait of Hormuz, lifting sanctions, and a $300 billion economic package. This is corroborated by multiple sources (Bloomberg, MeidasTouch, RawStory, and various Bluesky accounts). The deal is expected to be signed on Friday. This development counters the prevailing bearish energy thesis (oil supply crisis) and is bullish for equities, particularly transportation and consumer sectors, while bearish for energy stocks. Separately, the Fed's first meeting under Chair Warsh resulted in a hawkish hold with the dot plot signaling a potential rate hike later this year, causing a dollar surge and market selloff. The Fed also announced five new task forces, signaling regime change. Apple is reportedly raising prices due to a memory chip crunch, per WSJ, which is a negative for AAPL but positive for memory chip makers. After-hours movers include LPA (+59%), HAO (+38%), and EXTR (-54%).