WS #11031

The dominant signal in this window is the Supreme Court ruling that gives President Trump broad power to fire leaders of independent agencies (FTC, SEC, NLRB, CFPB), but explicitly carves out the Federal Reserve, allowing Fed Governor Lisa Cook to stay. This is a high-significance development for financials and regulatory outlook. Separately, Jana Partners has amassed a >10% economic stake in Alkami Technology (ALKT) and is pushing for a sale, a clear activist catalyst. AeroVironment (AVAV) reported a Q4 beat but issued weak FY2027 guidance, creating a mixed signal. Concentrix (CNXC) missed estimates and lowered guidance, negative for the stock. Digital Realty (DLR) announced a $2.346B secondary offering by Blackstone and a $7.8B data center acquisition, a large capital markets event. The US-Iran peace deal narrative continues with Rubio/Witkoff briefing Congress, de-escalating geopolitical risk. Telecom stocks (VZ, T) fell on satellite connectivity disruption fears. The AI selloff may resume per SA analyst, but MAG7 showed recovery (Dow above 52,000, TSLA +9%). Overall, the macro theme is STABLE with de-escalation on US-Iran, but regulatory uncertainty from SCOTUS ruling and mixed earnings create sector-level signals.