WS #7341

The dominant signal in this window is the Trump-Xi summit in Beijing, with both leaders agreeing that the Strait of Hormuz must remain open for free flow of energy, a direct counter to the Iran blockade thesis. Trump described discussions as 'extremely positive and constructive.' Separately, the US Senate Banking Committee advanced the CLARITY Act, a landmark crypto market structure bill, pushing Bitcoin past $80,000. OpenAI is reportedly preparing legal action against Apple over a failed ChatGPT integration, a high-significance MAG7 carve-out. Fed Governor Miran resigned, timed to Warsh's swearing-in, confirming the leadership transition. On the geopolitical front, Iran conducted a drone attack on an Indian livestock vessel in the Gulf of Oman, and Saudi Arabia/UAE are reportedly militarily involved against Iran, escalating regional tensions. The narrative arc is: Trump-Xi summit STABLE with positive signals on Hormuz, crypto regulatory clarity BULLISH, OpenAI-Apple conflict BEARISH for AAPL, and Iran conflict ESCALATING.