WS #5820

The data window is dominated by escalating geopolitical tensions and corporate restructuring. The Pentagon is reportedly considering suspending Spain from NATO for not supporting US operations against Iran, a development corroborated by Reuters and multiple European outlets. This signals deepening US-Europe friction and potential NATO instability. Separately, Microsoft has launched a voluntary buyout program for up to 7% of its US workforce (approx. 8,750 employees) as part of AI-driven restructuring, a significant move for MSFT. Oil prices remain elevated with Brent above $105, as Iran talks stall and Strait of Hormuz disruptions continue. European markets opened lower on Middle East worries. In corporate news, Tesla reported Q1 earnings beating expectations and announced cheaper Model 3/Y variants globally, a positive for TSLA. Intel also beat Q1 estimates with EPS of $0.29. The overall picture is one of geopolitical risk driving energy and defense narratives, with major tech restructuring from Microsoft and positive earnings from Tesla and Intel.