WS #13283

The dominant narrative is the US-Iran conflict, which is DE-ESCALATING as President Trump has halted strikes and announced talks with Iran begin tomorrow afternoon. Oil prices fell more than 6% on this news, and S&P 500 futures rose 0.4% with Nasdaq futures up 0.6%. However, Iran's foreign ministry insists the Strait of Hormuz will not return to pre-war status, and negotiations with Oman are in final stages for a new maritime route. This creates a mixed signal for energy markets: while the immediate risk premium is coming off, the strait remains effectively closed, supporting elevated oil prices. Cross-source corroboration is strong (Reuters, AP, multiple outlets). A separate development: Japan and China are reducing US Treasury holdings, with Japan cutting by $96 billion in three months, which could pressure US yields. Additionally, OPEC+ agreed to raise output by 188,000 bpd from September, adding to oil supply. The global memory shortage is now hitting Apple's MacBook Air, causing shipping delays and potential price increases, which is a negative for AAPL but positive for memory suppliers. Nvidia is reportedly negotiating a $250 billion guarantee for OpenAI to lease a data center, which is bullish for NVDA and AI infrastructure. These are the key signals in an otherwise noisy window.