WS #12793

The dominant signal in this window is the confirmed pause in US-Iran military strikes for a second consecutive night, triggering a sharp reversal in oil prices and a rally in equity futures. Multiple high-credibility sources (Bloomberg, AP, Seeking Alpha, GDELT, and several Bluesky posts) corroborate that Brent crude fell over 5% and WTI dropped 6% to ~$83.80, while S&P 500 futures opened 60 points higher. This de-escalation counters the prevailing bearish oil/geopolitical risk thesis that dominated prior sessions. However, the situation remains fragile: Iran warns the Strait of Hormuz cannot be used against its security, tanker traffic collapsed to only two transits on Friday, and an oil tanker hit a mine in the strait. The narrative arc is DE-ESCALATING but with high uncertainty. Separately, ExxonMobil is reportedly evaluating Woodside as an LNG acquisition target, sending Woodside ADRs up 14%. Brown-Forman rejected a renewed takeover approach from Sazerac. The S&P 500 net profit margin is projected to hit a record 15.7% in Q2, supporting the broader equity bull case. No new MAG7-specific contradictory signals emerged; the prior high-significance developments (US-Iran pause, oil plunge, stock futures rally) carry forward.