WS #5777

The dominant signal in this window is the escalating Iran-US military confrontation in the Strait of Hormuz, with multiple corroborating sources reporting Iran deploying additional mines and Trump ordering strikes on mine-laying vessels. This is further amplified by reports of US forces boarding an Iranian oil ship, Iran's top negotiator resigning, and air defense activity over Tehran. Oil prices have surged over 3% with Brent above $107 and WTI near $98. The situation is clearly escalating, with no de-escalation signals. Separately, Meta is reportedly laying off 10% of its workforce (8,000 employees) in May, corroborated by multiple sources including WSJ and Bloomberg, signaling cost-cutting amid AI investment push. Warner Bros. Discovery shareholders approved the $110B acquisition by Paramount Skydance, a major media consolidation. Trump announced Regeneron agreed to lower drug prices at a healthcare event, which could pressure biotech/pharma sector. Thermo Fisher flagged 'modest inflation' risk due to Middle East tensions, while beating Q1 estimates. Blackstone outlined a $160B data center pipeline. The previous high-significance Iran tensions carry forward and are now escalating with new developments.