WS #10060

The dominant signal in this window is the confirmed electronic signing of the U.S.-Iran Memorandum of Understanding (MOU) to end the war, now in effect. This is corroborated by multiple sources (Axios, N12, Press TV, Tasnim, and numerous social media posts), marking a definitive de-escalation of the Iran war narrative. The deal includes a $300 billion reconstruction fund and reopening of the Strait of Hormuz, which counters the previous bearish thesis on energy and supply chains. Separately, Apple CEO Tim Cook told the WSJ that Apple will raise prices due to surging memory chip costs, a bearish signal for AAPL. The Fed's first meeting under Warsh resulted in a hawkish hold with a split dot plot, but this was already covered in previous windows. The narrative arc for the Iran deal is ESCALATING in terms of finalization, moving from framework to signed agreement. The Apple price hike is a new bearish development for AAPL and the tech sector.