WS #6039

The dominant signal in this window is the confirmation of Tim Cook's retirement as Apple CEO effective September 1, 2026, with John Ternus succeeding. This leadership transition at a critical time for AI and services strategy is a high-significance event for AAPL. Separately, the shooting at the White House Correspondents' Dinner is now confirmed as a third assassination attempt on Trump, with the suspect's manifesto released, but the event appears contained. The Iran conflict continues to sustain oil prices above $100/bbl as Hormuz remains closed, with EU consumer sentiment plunging to -20.6 (lowest since Dec 2022) due to fuel price shocks. A key political development: Senator Tillis has dropped his opposition to Kevin Warsh's Fed nomination, clearing the path for confirmation, which counters the bearish thesis of Fed independence erosion. The Tillis-Warsh news is a counter-signal to the earlier DOJ investigation narrative.