WS #5836

The dominant signal in this window is the DOJ dropping its criminal probe into Fed Chair Jerome Powell, as reported by ABC News and corroborated by multiple sources. This removes a significant political overhang on monetary policy and is bullish for risk assets, particularly tech and financials. Separately, Intel's post-earnings rally continues to drive the Nasdaq, with the stock up 24% and clearing dot-com era peaks, while SAP also reported better-than-expected Q1 results. On the geopolitical front, Iran's foreign minister is expected in Islamabad for potential second-round peace talks with the US, which could de-escalate tensions and ease oil supply fears. However, Iran seized two container ships in the Strait of Hormuz, and Brent crude remains above $105, keeping energy sector volatility high. The Israel-Lebanon ceasefire extension is a positive development, but Israeli airstrikes on Lebanon continue, creating a mixed picture. Tesla announced production of its Cybercab robotaxi has started, a bullish signal for the EV maker. Overall, the macro narrative is shifting from geopolitical fear to cautious optimism on diplomacy, while tech earnings momentum remains strong.