WS #6811

Multiple high-signal developments emerged in this window. The Apple-Intel chip-making deal (WSJ, The Verge, multiple social sources) is the dominant corporate signal, with Intel surging ~$63B in market cap and Apple analyst targets raised. The Strait of Hormuz situation escalates: Iran now requires permits for all transits, traffic down 91%, Brent at $115, and the US expects an imminent Iranian response to ceasefire proposals. This is a major escalation from the previous 'stable' assessment. Trump planning to fire FDA Commissioner Makary (WSJ, multiple sources) is driving biotech spikes across several names. Hyundai's $26B US investment announcement is a significant industrial policy signal. UK local election results show Reform UK surging and Plaid Cymru poised to lead Wales, a notable political shift. The hantavirus narrative is spreading to a sixth US state, with biotech plays like MRNA and SAB moving on unconfirmed reports. Counter-signals: the Apple-Intel deal partially offsets the bearish Intel narrative, and Hyundai's investment counters the 'de-industrialization' thesis. Carry-forward: the Apple-Intel deal and Strait of Hormuz situation remain high-significance from prior windows, now with new data points.