WS #10995

The dominant signal in this window is a series of U.S. Supreme Court rulings, most notably the rejection of Trump's appeal of the $5 million E. Jean Carroll verdict, which has limited direct market impact but adds to political noise. The most market-relevant development is the confirmation of a U.S.-Iran de-escalation: multiple sources report that the U.S. and Iran have halted attacks, and Trump signals a diplomatic opening. This counters the recent bearish oil thesis from Hormuz tensions, with WTI crude rising ~1% and Brent ~0.8% in the data. Separately, Comcast (CMCSA) announced a spin-off of NBCUniversal and Sky, sending shares up ~10-22% premarket. Rocket Lab's $8 billion acquisition of Iridium (IRDM) is a major space infrastructure deal. On the macro front, the Fed is expected to remain patient, and the market narrative is stable with no escalation in Iran or Ukraine. Ukraine continues drone strikes on Russian oil infrastructure, but this is an ongoing theme. Overall, the window is dominated by corporate M&A and a de-escalation in U.S.-Iran tensions, which is positive for risk assets and negative for oil spikes.