WS #8339

The dominant narrative in this window is the US-Iran peace deal framework, which is DE-ESCALATING. The White House Rapid Response account has officially denied an Iranian state media report of a signed MOU, calling it a 'complete fabrication.' However, multiple sources (Seeking Alpha, Bloomberg, social media) report that an unofficial draft of an interim deal includes a provision for Strait of Hormuz traffic to return to normal within one month of finalization. This has caused oil prices to drop below $90, with WTI crude falling and betting markets raising odds of Hormuz reopening. The White House denial creates uncertainty, but the market is pricing in a de-escalation scenario. Separately, a TSLA-SpaceX merger chatter has emerged, citing CNBC-attributed posts about talks and a potential June 12 SpaceX IPO at $1.75T, with Musk's $7.5T market-cap target. This is a high-significance MAG7 carve-out that contradicts the broader macro narrative. Lululemon resolved its feud with founder Chip Wilson, a positive for LULU. Boeing CEO provided updates on 737 Max certification, saying they are 'a little better than 80% done' and confident on anti-icing system. Dell earnings preview highlights AI server momentum ahead of Q1 print after close. Several analyst upgrades and downgrades are noted but are secondary.