WS #7846

The dominant signal in this window is the continued de-escalation of US-Iran tensions, with multiple sources (Al Jazeera, Seeking Alpha, Bloomberg) reporting that three supertankers exited the Strait of Hormuz and US crude oil plunged below $100 on optimism. This corroborates the prior narrative of easing oil supply crisis. Separately, Anthropic is nearing its first quarterly profit and has agreed to pay SpaceX $1.25 billion monthly for computing power, signaling sustained AI infrastructure demand. Japan exports surged 14.8% in April, beating expectations and supporting Asian market optimism. The Nvidia earnings beat from the prior window remains a high-significance MAG7 carve-out, with Jefferies noting positive 1-month performance into earnings for 15 straight quarters. Insider selling at PYPL was reported. The narrative arc is DE-ESCALATING on the Iran/oil front, which should lift equities and pressure energy stocks. The Anthropic-SpaceX deal is a new positive signal for AI and space-related tickers.