WS #10073

The dominant signal in this window is the confirmation that the US-Iran Memorandum of Understanding has been signed electronically and is now in effect, as reported by multiple sources including BBC, Al Jazeera, and Seeking Alpha. The IEA warns that a US-Iran peace deal could bring a big oil glut next year, and oil prices have already fallen below $80 (Brent) and $76 (WTI). This is a significant escalation of the oil supply narrative, with the Strait of Hormuz reopening and Iran agreeing to downblend enriched uranium. The situation is ESCALATING in terms of market impact, as the deal's details emerge and oil prices react. Separately, a Fed hawkish signal is circulating on social media, claiming the Fed has killed rate cut hopes for this year, which would be a major shift if confirmed. However, this is from a single unverified source and should be treated with caution. Apple is facing potential iPhone price increases due to memory chip shortages (RAMageddon), which could pressure margins and demand. Rumble announced it has acquired 22,000 Nvidia chips, signaling a major AI infrastructure buildout. Insider selling at AMAT, META, WMT, UAL, and NET is notable but routine. The US-Iran deal is the primary market-moving development, with oil prices and energy stocks directly affected.