WS #6849

The dominant signal in this window is the confirmation of a preliminary chip-making agreement between Apple (AAPL) and Intel (INTC), corroborated by multiple sources including a Japanese market summary and the Newsquawk US Market Wrap. This is a high-significance development for the semiconductor sector, driving INTC's continued rally (+14% per the Japanese source) and supporting the broader tech rally. Separately, the Pentagon released video of strikes on Iranian oil tankers in the Strait of Hormuz, and a report indicates the UAE came under attack from Iranian drones, escalating the Iran conflict and keeping oil prices elevated. The US jobs report beat expectations (115K vs ~60K est.), which complicates any Fed rate cut hopes and supports the S&P 500's record run. Trump Media (DJT) reported a massive $405.9M loss, and Primoris Services (PRIM) cratered 50% on renewables issues. The Senate Banking Committee set a May 14 markup for major crypto legislation, a positive signal for crypto markets. The prevailing macro narrative is stable: the tariff ruling from the previous window is a counter-signal to trade war fears, while the Iran conflict remains escalated but contained. The AAPL-INTC deal is a new positive catalyst for tech, countering any bearish macro headwinds.