WS #5860

The data dump contains several high-significance developments. The US Justice Department has dropped its probe into Fed Chairman Jerome Powell, clearing the path for Kevin Warsh's confirmation. This removes a key political overhang on monetary policy and is bullish for markets. Separately, Intel's stock surged over 20% on strong earnings and guidance, signaling a turnaround in the semiconductor sector. On the geopolitical front, an Iranian delegation has arrived in Pakistan for talks, and US envoy Witkoff is heading there as well, suggesting potential de-escalation in the Iran conflict. However, a Pentagon email suggests the US may suspend Spain from NATO over lack of support in the Iran war, indicating ongoing tensions. Google is investing up to $40 billion in Anthropic, underscoring the AI arms race. European markets closed lower on caution ahead of weekend negotiations. The DOJ dropping the Powell probe is the most significant market-moving event, as it reduces uncertainty around Fed leadership and could accelerate a shift to a more accommodative stance.