WS #5861

The data dump shows several key developments. Intel's stock surged over 20% on strong earnings and guidance, signaling a turnaround in the semiconductor sector. The US Justice Department dropped its probe into Fed Chairman Powell, clearing the path for Kevin Warsh's confirmation and removing a key political overhang on monetary policy. Geopolitical tensions with Iran are showing signs of de-escalation: the US imposed sanctions on a China-based oil refinery and 40 shippers over Iranian oil, but Qatar's emir discussed a ceasefire deal with Trump, and US envoy Witkoff is heading to Pakistan for talks. Oil prices pulled back on renewed optimism over diplomatic progress. Google is reportedly planning to invest up to $40 billion into Anthropic, underscoring the AI arms race. The Space Force awarded $3.2 billion in contracts for the Golden Dome missile defense system. Phillips 66 was upgraded at Morgan Stanley on chemicals upside. Overall, the market is reacting positively to the Intel earnings, the DOJ dropping the Powell probe, and potential Iran de-escalation, while oil-related stocks are lower on crude pullback.