WS #6600
The dominant theme in this window is the US-Iran conflict, which is DE-ESCALATING. The White House has informed Congress that the war with Iran is concluded, and the Pentagon is withdrawing 5,000 troops from Germany. Trump announced 'Project Freedom' to guide ships through the Strait of Hormuz starting Monday, with CENTCOM confirming a 'safe path' priority. Iran submitted a 14-point response via Pakistan demanding blockade lifting and asset unfreezing. The UAE lifted all air traffic restrictions. This de-escalation counters the prior bullish oil thesis, with OPEC+ increasing production quotas and oil prices falling (WTI -3.67%, Brent -3.57%). Separately, AMD surged 8% after hours following earnings, while Oracle announced layoffs of up to 30,000 employees as it shifts to AI. The Anthropic-GOOGL deal narrative remains stable with Polymarket odds for Alphabet as largest company by May 31 at elevated levels.
Key developments
- White House declares war with Iran concluded, Pentagon orders 5,000 troop withdrawal from Germany
- Trump announces 'Project Freedom' to guide ships through Strait of Hormuz starting Monday
- Iran submits 14-point response to US via Pakistan, demands blockade lifting and asset unfreezing
- OPEC+ increases production quotas after UAE exit, oil prices fall sharply
- AMD jumps 8% after hours on earnings beat, smashing all-time highs
- Oracle to lay off up to 30,000 employees as it shifts to AI
- Spirit Airlines to enter orderly liquidation
- UAE lifts all air traffic restrictions imposed after war with Iran