WS #8656

The data window contains several high-signal developments. First, a major diplomatic breakthrough: the US Treasury Secretary stated that Iran is willing to dismantle its nuclear program for the first time in nearly five decades, corroborated by multiple sources including Bloomberg and Al Jazeera. This directly counters the prevailing bearish geopolitical thesis of escalating Iran tensions and Strait of Hormuz disruption. Second, SpaceX has cut its IPO valuation target to $1.8 trillion (from $2 trillion+), still on track for the world's largest IPO, which is a significant development for space/tech investors. Third, the Ebola outbreak in DRC and Uganda is escalating rapidly with over 1,000 suspected cases and 246 deaths, with WHO calling it 'deeply alarming' — this is a humanitarian crisis but limited direct US market impact. Fourth, Ukraine continues to strike Russian energy infrastructure, hitting an oil pipeline and depot, which supports elevated energy prices. Fifth, Fed Governor Waller's comments on stablecoins extending US monetary policy reach are notable for crypto markets. The dominant narrative is a potential de-escalation in Iran-US tensions, which would be bullish for equities and bearish for oil, but this is partially offset by ongoing Ukraine-Russia energy strikes and the Strait of Hormuz transit fee proposal.