WS #6614

The dominant narrative is a sharp de-escalation in the Iran conflict, with Trump pausing Project Freedom and signaling progress toward a deal, causing oil prices to ease ~1.7%. This counters the prior bearish oil thesis from the Ukraine port strike and supports a risk-on rotation into equities, particularly Asian markets and tech. However, Apple's $250M AI lawsuit settlement is a negative for AAPL sentiment, while Cathie Wood's $16M AMD sale and $27M Shopify buy signal rotation within tech. MSTR's reported loss and end of HODL strategy is a bearish crypto signal. The Iran de-escalation narrative is ESCALATING (positive for risk assets), while the tech narrative is STABLE with mixed signals.