WS #5883

The dominant signal in this window is the escalation of US-Iran tensions, with Treasury Secretary Bessent ruling out renewal of oil waivers for Iran and Russia, and Iran capturing a 'suspicious' ship. This contradicts the previous peace narrative and is bearish for equities and bullish for oil. Additionally, the US froze $344M in crypto linked to Iran, and the EU faces energy price shocks. The Warner Bros. Discovery sale to Paramount for $81B is a major M&A signal. X-Energy IPO surged 27% on AI-driven nuclear demand. Google-Apple Siri deal confirmed. Comcast beat earnings. Bitcoin rally continues. The Iran oil waiver cancellation is the highest-significance development, countering the prior peace thesis and likely to boost oil prices and energy stocks while hurting airlines and consumer discretionary.