WS #6632

The dominant narrative remains the rapid de-escalation of the US-Iran conflict, with multiple sources confirming progress toward a peace deal. However, new counter-signals have emerged: Iran's Tasnim news agency stated that Iran has not yet responded to the latest US proposal, which contains unacceptable conditions, and that using threats is ineffective. Additionally, an Israeli source indicated Israel was unaware Trump was close to a deal and was preparing for escalation. These developments introduce uncertainty into the previously bullish de-escalation narrative. Separately, Morgan Stanley launched crypto trading on E*Trade with lower fees than rivals, a significant competitive move. AMD CEO expressed bullishness on AI demand, and Corning's partnership with Nvidia continues to drive positive sentiment in tech. The overall market narrative is shifting from a clear de-escalation to a more uncertain phase, with oil prices potentially stabilizing and equities facing mixed signals.