WS #5880

The data dump contains several high-signal items. First, the DOJ dropped its criminal investigation of Fed Chair Jerome Powell, clearing the path for Kevin Warsh to become the next Fed chair. This is a significant macro development that reduces uncertainty around Fed leadership and is positive for markets. Second, Google (GOOGL) announced a $40 billion investment in Anthropic, with $10 billion upfront, valuing Anthropic at $350 billion. This underscores the AI arms race and is bullish for GOOGL and AI-related stocks. Third, Nvidia (NVDA) surpassed $5 trillion market cap, closing at a record $208.27, up 4.3%, driven by AI enthusiasm and Intel's strong earnings. Fourth, Intel (INTC) surged 24% on strong Q1 earnings driven by data center and AI demand, reinforcing the semiconductor/AI rally. Fifth, oil prices remain elevated around $100/barrel amid the Iran conflict and Hormuz Strait closure, with peace talks in Pakistan offering potential de-escalation. The S&P 500 and Nasdaq closed at new record highs, driven by tech. The overall narrative is bullish for tech/AI, with macro tailwinds from Fed clarity and geopolitical oil support. Additionally, US-Iran negotiations are set for this weekend in Pakistan, which could lead to a de-escalation in oil prices if successful. The Panama Canal is seeing record tolls due to rerouting from Hormuz, benefiting Panama but adding to global shipping costs.