WS #10477

The dominant signal in this window is the US easing of oil sanctions on Iran, corroborated by multiple sources (Bloomberg, Financial Post, Headline Dispatch), which is driving oil prices lower and supporting a positive open for Asian stocks. This development acts as a counter-signal to the prevailing oil supply crisis narrative from the Iran war. Separately, the US Senate passed the 21st Century ROAD to Housing Act (85-5), which includes a four-year ban on a Fed CBDC, a bipartisan housing bill that could impact homebuilder and real estate stocks. The UK is facing a record heatwave with red warnings, which may affect utilities and energy demand. Tesla is pushing back on Autopilot narrative after a fatal crash, with the company stating the driver manually overrode the system. Insider selling at Cloudflare (NET) and CrowdStrike (CRWD) is notable. The narrative arc for the Iran war/oil theme is DE-ESCALATING due to peace talks progress and the US waiver.