WS #6354

The dominant signal in this window is the confluence of three major developments: (1) the White House formally notified Congress that hostilities with Iran are 'terminated' as the 60-day War Powers deadline arrived, but Trump simultaneously stated he is 'not satisfied' with Iran's latest peace proposal, creating a contradictory and fragile ceasefire narrative; (2) Trump announced a 25% tariff on EU auto imports effective next week, escalating trade tensions and threatening global supply chains; (3) Spirit Airlines is preparing for imminent shutdown after bailout talks collapsed, with the White House offering a final rescue proposal. These events are cross-corroborated by multiple sources (BBC, Al Jazeera, Reuters, AP, Bloomberg, Axios, Zettawire, GDELT). Oil prices fell 3% on the Iran proposal news but remain elevated due to the ongoing Strait of Hormuz blockade. The Fed's internal dissent signals a hawkish pivot, with some officials arguing rate cuts are no longer appropriate given energy-driven inflation. The Pentagon signed AI deals with major tech firms (GOOGL, MSFT, AMZN, NVDA), a bullish signal for those names. The macro narrative is ESCALATING on trade war and airline distress, while the Iran war narrative is STABLE but fragile—the ceasefire holds but no deal is in sight.