WS #7690

The dominant signal in this window is a significant de-escalation in US-Iran tensions. Multiple sources (Bloomberg, Al Jazeera, Bluesky posts) report that President Trump called off a planned military strike on Iran at the request of Gulf allies, who asked for more time for diplomacy. This directly counters the prevailing oil supply crisis narrative and has already caused a modest 1.2% dip in crude closes, hinting at potential further easing. Separately, Nvidia has begun shipping its new Vera CPU systems to OpenAI, Anthropic, Oracle, and SpaceX, a bullish signal for NVDA that contradicts the broader tech sector headwinds from the Iran war. Meta is reassigning 7,000 employees to AI teams while cutting 8,000 jobs, a mixed signal but reinforcing its AI pivot. The Iran war continues to pressure chip supply chains (TSMC, Foxconn, Infineon flagging cost increases), but the strike cancellation is the most market-moving development. The narrative arc is DE-ESCALATING on the geopolitical front, though the economic damage from the war persists.