WS #7027

The dominant signal in this window is the escalation of US-Iran tensions, with Trump rejecting Iran's peace proposal as 'totally unacceptable,' a development corroborated by Al Jazeera, BBC, and multiple social media sources. This has immediate market implications: oil prices are spiking (Brent above $104), the US Navy is enforcing a blockade in the Arabian Sea, and Deutsche Bank warns markets will stay on a 'knife-edge' as long as the Strait of Hormuz remains closed. The narrative is ESCALATING. Counter-signals are absent. Separately, several company-specific catalysts stand out: Monday.com smashed Q1 earnings (EPS $1.15 vs $0.93, revenue $351M vs $339M), Barrick Gold beat Q1 estimates with 180% earnings growth and a $3B buyback, and BridgeBio presented positive Phase 3 data for acoramidis in ATTR-CM. On the negative side, IREN slid on a $2B convertible notes offering, and Wendy's was downgraded by JPMorgan. The macro backdrop remains bearish for equities broadly, with Fed rate hike odds climbing and consumer stocks lagging.