WS #6737

The dominant theme remains the Strait of Hormuz situation, which is DE-ESCALATING. Multiple cross-source signals confirm a potential US-Iran temporary truce: The Guardian reports Pakistani officials claim a deal could be reached this weekend, while Polymarket shows active trading on 'Strait of Hormuz traffic returns to normal' and 'US x Iran peace deal' contracts. A French container ship completed a rare transit through the Strait, corroborating the de-escalation narrative. This is bullish for oil supply normalization, sending oil prices lower and stocks higher. Separately, Broadcom (AVGO) sank over 4% after The Information reported that its $18B custom chip deal with OpenAI hit a financing snag, a significant negative for the AI infrastructure trade. Fed's Hammack made cautious remarks about inflation mindset becoming entrenched, which could weigh on rate-sensitive sectors. Whirlpool warned of a 'recession-level' slump due to the Iran war and tariffs, slashing its forecast and hiking prices, a bearish signal for consumer discretionary. In corporate news, Shake Shack (SHAK) plunged 27% on a profit miss, while Duolingo (DUOL) climbed on Q1 beat. Bitcoin dipped below $80K amid profit-taking. The macro narrative is stable with the Iran de-escalation carrying the highest near-term market impact.