WS #7691

The dominant signal in this window is a confirmed de-escalation in US-Iran tensions, with multiple sources (CNBC, Bluesky) reporting that Trump delayed a planned strike on Iran at the request of Gulf allies for more diplomacy. This directly counters the oil supply crisis narrative, with Brent crude down ~2% and WTI down ~1.1% in early trading. Separately, Google and Blackstone are launching a new AI cloud company with Blackstone putting up $5B for a majority stake, a bullish signal for GOOGL and the AI infrastructure theme. Ukraine continues to strike Russian oil infrastructure, with drones hitting the Slavneft-YANOS refinery in Yaroslavl, adding to Russian oil capacity losses. Nasdaq futures are down 0.63% amid tech weakness, but the Iran de-escalation is the most market-moving development. The narrative arc is DE-ESCALATING on the geopolitical front, though the economic damage from the war persists.