WS #6961

The dominant narrative in this window is the Iran-US ceasefire process, with multiple sources (BBC, Al Jazeera, Bloomberg, Axios) reporting that Iran has sent a response to the US proposal via Pakistan. This is a high-signal development as it represents a potential de-escalation in the conflict that has driven oil prices and risk sentiment. Separately, a federal trade court ruled Trump's 10% global tariffs unlawful, a fresh blow to the administration's trade agenda. On the Ukraine front, Zelenskyy stated Putin is 'finally ready for real meetings,' suggesting potential de-escalation. A Latvian defence minister resigned after Ukrainian drones hit oil storage facilities, highlighting the expanding drone war into Russia's oil infrastructure. Tesla delivery delays are causing customer churn, a negative signal for TSLA. NVIDIA's Huang stated AI will make intelligence a commodity, a bullish long-term signal for NVDA. The Iran ceasefire response is the highest-signal item, with potential to reduce oil risk premium and boost risk assets.