WS #11192

The dominant signal in this window is Meta's announcement of a cloud infrastructure business to sell excess AI compute, which has driven META shares up ~8-9% today. This development directly addresses the biggest overhang on the stock—monetization of AI capex—and is corroborated by multiple sources (CNBC, Bloomberg, Seeking Alpha, social media). Separately, the USMCA trade pact non-renewal narrative continues to escalate with no new counter-signals, adding uncertainty for North American supply chains. Oil markets are showing a clear de-escalation signal: Morgan Stanley cut its Brent forecast again, US oil grades are slumping as Strait of Hormuz traffic normalizes faster than expected, and European fuel prices are falling. This counters the prevailing bullish oil thesis. In MAG7, META's cloud pivot is a strong positive contradicting the broader tech selloff narrative, while MSFT and NVDA show mixed signals. Other notable items include Bending Spoons' successful Nasdaq IPO (up 31%), Trump's crypto disclosure ($1.2B+ from crypto), and a Fed chair reiterating independence and inflation focus, pushing back against rate cut hopes.