WS #5277

The primary market signal remains the Strait of Hormuz de-escalation, with no new developments to alter the narrative. The previous synthesis captured the key elements: multiple sources confirming the strait is open, leading to a sharp oil price drop and broad market rally, countered by a conflicting WSJ report. Fed Governor Waller's hawkish stance and corporate signals like the IWM dark pool alert and Goldman Sachs energy recommendation persist. No new actionable information has emerged in this window to shift market dynamics.