WS #6731

The dominant signal in this window is a major de-escalation in the Strait of Hormuz crisis, with Saudi Arabia and Kuwait lifting restrictions on U.S. military access to bases and airspace, paving the way for the U.S. to resume Project Freedom to guide commercial ships through the strait. This is corroborated by WSJ exclusives and multiple Bluesky posts, and directly counters the prevailing bearish oil narrative from the previous window. Separately, the Trump administration is inviting CEOs from NVDA, AAPL, XOM, BA, and QCOM on a China trip next week, which could unlock Boeing orders and ease trade tensions. This is reported by multiple sources (investing.com, Bluesky posts). The ECB's Schnabel warning about a potential rate hike if the energy shock broadens is a hawkish signal for European markets but has limited direct US impact. The hantavirus outbreak on a cruise ship is confirmed by WHO with 5 cases, but risk is assessed as low, so limited market impact. Shell's earnings surge on oil trading bonanza is noted but stock is down 2.9%, suggesting profit-taking or tax concerns. SoftBank is in talks with NVDA and Foxconn to build made-in-Japan AI servers, which is positive for NVDA and the AI supply chain. The Iran-Hormuz narrative is now DE-ESCALATING with concrete counter-signals. The prevailing macro theme is shifting from geopolitical risk to trade optimism.