WS #5448

The dominant signal in this window is a significant de-escalation in the Strait of Hormuz crisis, directly contradicting the previous situational awareness. Multiple sources (Gdelt, Reuters via Dow Jones) report that Iran's foreign minister declared the Strait 'completely open' to commercial vessels, causing a steep fall in oil prices and reducing expectations for interest-rate hikes. This development counters the previous high-significance closure signal and dampens the bullish energy/supply shock thesis. Concurrently, geopolitical tensions persist with Spain's Prime Minister Sanchez proposing the EU denounce its association agreement with Israel over human rights violations (Gdelt), adding to Middle East instability but with limited immediate US market impact. Secondary signals include a major tech sector development: Meta is preparing significant layoffs (10% of workforce, ~8,000 employees) in May with further cuts later in 2026 (Reuters via Gdelt), reflecting AI-driven restructuring that could pressure META and tech sentiment. Additionally, Google is reportedly partnering with Marvell to develop two new AI chips (The Information via Gdelt), potentially benefiting MRVL and the semiconductor sector. Other items, such as routine earnings previews, local crime, or sports results, are noise.