WS #11255

The dominant theme in this window is a sharp reversal in the Strait of Hormuz narrative: crude oil prices are crashing on reports that flows are recovering, directly countering the previous bullish oil thesis. This is a high-significance counter-signal. Separately, Micron stock is down ~5% after Trump hyped the company while owning millions in stock, raising conflict-of-interest concerns. OpenAI reportedly cut inference costs by ~50%, which could be misread as bearish for GPU demand but is likely bullish for AI adoption at scale. Rivian raised 2026 delivery guidance, sending stock up 10%+. The EU's top court upheld Google's €4.1B Android antitrust fine, a negative for GOOGL. Meta's potential cloud business is pressuring memory chip stocks. The Hormuz de-escalation is the most impactful development, likely to reverse energy sector gains and boost consumer/transportation stocks.