WS #7278

The dominant signal in this window is the Cerebras Systems IPO, with shares indicated to open at $325-$387.25 vs $185 IPO price, a massive pop that will drive attention to AI chip names (NVDA, AMD) and IPO market sentiment. Cross-source corroboration from multiple Reuters-sourced Bluesky posts confirms the high significance. Separately, the Iran war continues to escalate: a 'floating armoury' ship was reportedly hijacked by Iran (BBC, Vanguard), global oil stockpiles are plunging (OilPrice.com, IEA), and Russia's Urals crude hit a 2023 high (Bloomberg). However, a counter-signal emerged: IRGC backed off toll demands on Chinese vessels after Trump-Xi agreement, and Saudi Arabia floated a non-aggression pact with Iran (FT), which could de-escalate the oil supply crisis. The Trump-Xi summit produced a full tableau: Nvidia chips, fentanyl talks, Taiwan warnings, and a White House invite. Rubio said US isn't asking China for help on Iran but agreed Hormuz shouldn't be militarized. On the macro side, US business inventories rose 0.9% vs 0.8% est, and retail sales rose 0.5% (slower than March's 1.6%). Cisco cut ~4,000 jobs to invest in AI despite record revenue (TechCrunch, Bloomberg), a mixed signal for CSCO. The UK political crisis (Streeting resignation, Starmer under pressure) is noise for US markets. The Clarity Act markup hearing began in Senate Banking Committee (CoinDesk), with below-50% passage odds per GSR. Overall, the Cerebras IPO pop and Iran de-escalation signals are the most actionable developments.