WS #10422

U.S. stocks are rising as US-Iran peace talks show progress, with the Treasury issuing a 60-day license for Iranian oil sales, driving oil prices lower (WTI -1.65%, Brent -2.30%). Vice President JD Vance confirmed 'great progress' in Switzerland talks, including Iran's agreement to allow IAEA inspectors back and commitment to free Hormuz transit. This de-escalation is STABLE and consistent with prior signals. In corporate news, Micron (MU) stock hit a 52-week high, surging 6% ahead of June 24 earnings after announcing a strategic AI partnership with Anthropic, corroborated by a massive $72.5M MU call option trade (1500 strike, Dec 2027) signaling extreme bullish conviction on AI memory. Super Micro Computer (SMCI) shares soared +16% on an unconfirmed report. AbbVie (ABBV) announced a $10.9 billion acquisition of Apogee Therapeutics to expand its immunology portfolio, driving ABBV shares higher. SpaceX is selling investment-grade bonds for the first time to fund AI ambitions, while Interactive Brokers (IBKR) added ChatGPT and Grok to its trading platform. The UK political crisis is ESCALATING with Keir Starmer's resignation confirmed, but limited direct US market impact. Lucid Motors (LCID) restructuring (18% workforce reduction) confirms ongoing EV sector weakness. A heatwave in France is causing tragic deaths but has limited market impact. Overall, the dominant themes are US-Iran de-escalation (stable), AI infrastructure spending (bullish), and UK political uncertainty (escalating but contained).