WS #10485

The dominant theme in this window is the continued de-escalation of the US-Iran conflict, with Iran's chief negotiator Ghalibaf stating that the US and Iran can cooperate to reopen the Strait of Hormuz, though he noted the Strait will never return to its pre-war state. This is corroborated by multiple sources (Al Jazeera, Axios, rawfeednews) and represents an ESCALATING de-escalation narrative. Separately, MicroStrategy (MSTR) halted its STRC sales and sold Bitcoin to cover dividends, causing a 4.9% drop to $109.53, with $106 as a key support level for convertible holders. Oracle's 10-K revealed a 13% workforce reduction (21,000 jobs) due to AI, adding to the tech layoff narrative. Eli Lilly (LLY) reported a 45% revenue surge to $65B driven by Mounjaro/Zepbound, with orforglipron submitted for approval. Japan's Chief Cabinet Secretary Kihara stated the government will take appropriate action on FX moves if needed, signaling intervention readiness. The Five Eyes intelligence agencies warned that frontier AI models could enable mass cyberattacks within months, posing national security and market risks. Tucker Carlson announced he is leaving the Republican Party, blaming the Iran war and Israeli influence. A federal judge blocked the Trump administration's centralized voter database containing Social Security numbers. Cathie Wood bought $32.5M in SpaceX shares during the dip. The narrative arc for US-Iran de-escalation is ESCALATING, for private credit stress is STABLE (no new data), and for tech layoffs is STABLE.