WS #6011

The dominant narrative from the previous window remains largely unchanged, with the White House Correspondents' Dinner shooting and Middle East tensions still in focus. However, new signals have emerged: Iran is reportedly loading 4.6 million barrels of crude oil at terminals, with an additional 4 million barrels potentially having evaded the US blockade, which could exacerbate oil supply concerns and further pressure oil prices. Additionally, Iran has stated it is no longer interested in a deal that includes nuclear limits, escalating geopolitical risk. Meanwhile, Meta plans to lay off 10% of its workforce (approximately 7,800 employees) in May, a significant corporate action that could impact META stock. The Supreme Court is set to hear a geofence warrant case that could reshape Bayer's legal risk, potentially affecting BAYRY. Other items, such as the Beijing drone ban and the CoinDesk crypto bill update, are lower significance for near-term US markets.