WS #8193

The US-Iran peace deal narrative is STABLE but with a hardening of positions. Iran's Supreme National Security Council declared 'no surrender/retreat' (Bluesky/Reuters), and NYT reports Trump's pressure had little effect on Iran's terms. A new detail: Iran is demanding transfer of highly enriched uranium to China (Al-Arabiya via Bluesky). Multiple sources (WSJ, CNBC, Bluesky) indicate progress has slowed and a deal is not imminent. This keeps oil prices elevated, benefiting energy stocks (XOM, CVX) while pressuring airlines (DAL, UAL). The Strait of Hormuz remains a key friction point, though two LNG tankers passed through earlier (carried forward). Separately, Nvidia's net profit margin hit a record 71% (Bluesky), reinforcing its AI dominance and supporting NVDA. Russia warned diplomats to leave Kyiv and announced systemic strikes on Ukraine's military-industrial facilities, escalating the Ukraine-Russia conflict. Israel launched heavy airstrikes in southern Lebanon, adding to regional tensions. Pope Leo called for 'disarming' of AI, but this is unlikely to materially impact tech stocks near-term. Peloton (PTON) is being added to the S&P SmallCap 600 index, a positive catalyst for the stock.