WS #12832

The dominant signal in this window is a sharp pullback in crude oil prices and energy stocks, driven by reports that the U.S. and Iran could resume negotiations and that Iran will stop its military strikes if the U.S. refrains from bombing. This de-escalation counters the prevailing bullish oil thesis from Houthi drone attacks on Saudi infrastructure. WTI crude is down ~6.3% and Brent down ~6.8% in the data. Multiple sources (pro-wire, SeekingAlpha, Investing.com) confirm energy stocks are trading lower on this news. Separately, the S&P 500 and Nasdaq are falling as a chip stock selloff resumes, with the SMH semiconductor ETF down 20% from its June peak. Nvidia is slipping 4% on balance sheet jitters from AI spending. Durable goods orders missed expectations (0.3% vs ~2% expected), adding to macro concerns. On the positive side, Google surpassed $4 trillion market cap, and Tyson/JBS shares surged on U.S. reopening Mexico cattle imports. The Fed decision looms with markets leaning toward a rate hold despite some hike whispers. Cross-source corroboration is strong on the U.S.-Iran de-escalation: BBC, France24, pro-wire, and multiple Bluesky posts all report the same narrative. The Houthi drone strikes on Saudi oil sites are also widely reported but are being overshadowed by the broader de-escalation theme. The Nvidia-SSI partnership is a notable positive for NVDA, but the chip selloff and AI spending concerns are weighing. The Cracker Barrel CEO resignation is a minor negative for CBRL. Overall, the market is in a risk-on relief mode on geopolitics, but tech and macro headwinds persist.