WS #7921

The dominant theme in this window is the political fallout from the Iran conflict, with House Republicans pulling a scheduled vote on a war powers resolution to limit Trump's military action in Iran. This signals that the administration retains broad latitude to escalate, keeping geopolitical risk elevated. Separately, the White House announced the swearing-in ceremony for incoming Fed Chair Warsh on May 22 at 11:00 AM, a key event for rate expectations. The IMF approved a ~$1 billion disbursement for Argentina, a win for Milei's economic reforms. On the corporate side, WMT is down 7.3% post-market, and Zoom rises on Q1 beats. The Kyle Busch death is notable but not market-moving. The Iran/Hormuz narrative remains STABLE with no new de-escalation signals, but the House vote pull is a slight escalation in political risk.