WS #5758

The data window shows escalating geopolitical tensions in the Middle East, with the Strait of Hormuz crisis deepening. Oil prices have risen above $100/barrel, and the IEA chief warns of the biggest energy security threat in history. The Dow CEO states petrochemical supply disruptions will persist through 2026. UK consumer confidence has plummeted to its lowest since October 2023 due to the Iran war's economic fallout. On the corporate front, Oracle reportedly canceled a $1.1B server contract with Super Micro Computer (SMCI), causing SMCI shares to drop 10%. Microsoft announced its first-ever voluntary employee buyout for up to 7% of US workforce, signaling cost-cutting amid AI disruption. Warner Bros shareholders approved the $110bn merger with Paramount Skydance. Tesla shares fell after Q1 results, but merger speculation with SpaceX is keeping the stock afloat. The 30-year fixed-rate mortgage declined to 6.23%, the lowest in three spring homebuying seasons, providing a tailwind for housing. The EU approved a €90 billion loan for Ukraine after Hungary lifted its veto. Iran executed a man for collaborating with Israel, and a measles outbreak killed at least 30 in Bangladesh.