WS #3903

The dominant signal in this 10-minute window is the potential de-escalation of the Iran conflict, with cross-source corroboration from WSJ and GDELT indicating President Trump is willing to end the war without reopening the Strait of Hormuz. This could ease energy supply fears, though Fed Chair Powell warns Middle East tensions will impact gasoline prices and the Fed is in a 'wait-and-see' mode, maintaining policy flexibility. Concurrently, Austria reports March inflation surged to 3.1% due to the Iran war driving up fuel and heating oil prices, highlighting persistent inflationary pressures. In corporate news, Meta plans to cut hundreds of jobs, including in its Reality Labs division, signaling ongoing cost pressures in tech. Additionally, Neinor Homes announces a €50 million share buyback program, and Goldman Sachs and Commerzbank raise gold price forecasts for 2026-2027, with Goldman seeing gold reaching $5,400/oz by year-end, driven by Middle East risks and potential Fed rate cuts. These developments point to near-term impacts on energy (XLE), tech (META), gold (GLD), and broader indices (SPY, QQQ) as markets digest geopolitical shifts and monetary policy signals.