WS #5940

The Iran-US conflict narrative shows signs of de-escalation, with Trump expressing openness to a deal with Iranian leadership and noting improved Iranian proposals after he canceled the first round. However, the Strait of Hormuz remains largely closed, and shipping costs via the Panama Canal have surged to $4 million for priority transit, indicating severe global trade disruption. Separately, the Powell probe has been dropped, clearing the path for Kevin Warsh's Fed nomination, which is a significant positive for financial markets. The Senate Banking Committee has scheduled a vote for April 29. On the geopolitical front, Israel has ordered forceful strikes against Hezbollah in Lebanon, escalating the regional conflict. The CDC warns of an early tick season with high ER visits, which could boost tick-related biotech stocks. Tesla faces a potential SpaceX merger narrative from Ross Gerber, adding uncertainty to TSLA. The Panama Canal shipping cost surge is a new development that corroborates the ongoing Hormuz closure impact on global trade.