WS #13236

The dominant narrative is a significant de-escalation in the US-Iran conflict. President Trump announced the cancellation of planned strikes on Iran, citing an emerging deal framework that includes the reopening of the Strait of Hormuz and an end to Iran's nuclear threat. This is corroborated by multiple sources (AP, NYT, Xinhua, Fortune, Korea Times, Khaama Press, and others), marking a high-significance geopolitical shift. The move follows Saudi Crown Prince Mohammed bin Salman's concerns about escalation and Iran's threats to strike regional oil fields. This de-escalation is likely to reduce oil prices, benefiting airlines and consumer discretionary sectors while pressuring energy stocks. However, the deal is conditional and fragile, with Iran's response unconfirmed, so the situation remains fluid. Additionally, there are notable earnings previews for Monday, including Reddit's post-earnings drop of 21% (already reported) and upcoming reports from Palantir, onsemi, and others, which could drive sector-specific moves. The yen intervention story is unchanged from prior coverage and not re-surfaced as new.