WS #7878

Multiple high-signal developments in this window. The dominant Iran/Hormuz narrative is DE-ESCALATING with counter-signals: Iran is mulling the latest US peace proposal as Trump claims the war is in 'final stages', while simultaneously Iran's leader bans export of enriched uranium, hardening its stance. The IEA says 80% of oil reserves remain after releasing 400 million barrels and is willing to take further action. OPEC+ is expected to agree to a 188,000 bpd output quota hike at the June 7 meeting. These counter-signals partially offset the bearish oil thesis. Separately, SpaceX has filed S-1 for IPO, with Polymarket contracts trading on its IPO valuation. The Trump administration announced $2 billion in quantum computing investments, with $1 billion to IBM, boosting QBTS, RGTI, and IONQ. Deere shares fell 7.2% on weak large-ag outlook. Spotify investor day highlighted 20%+ operating margin through 2030 and 1 billion subscriber target. A $69B merger between Equity Residential and AvalonBay Communities was announced. Eli Lilly's retatrutide showed 28.3% average weight loss at 80 weeks in Phase 3. A $1.16M whale sold MSFT call options, signaling bearish/hedging flow. The dominant theme is Iran/Hormuz DE-ESCALATING with counter-signals from IEA reserves, OPEC+ output hike, and diplomatic talks.