WS #7904

The dominant signal in this window is the continued escalation of US-Iran deal progress, with multiple sources corroborating that a final draft has been reached and an announcement is expected within hours. This has directly caused oil prices to fall (Brent crude down 2.34% to $102.6, WTI down ~2%) and US Treasuries to erase earlier losses. The narrative is ESCALATING positively toward a resolution. However, unresolved issues remain regarding nuclear weapons access and Strait of Hormuz passage, per White House officials. Separately, Ukrainian drone strikes on the Syzran oil refinery in Russia continue, adding supply-side pressure that is partially offset by the Iran deal hopes. In corporate news, SpaceX aims to build a 10-gigawatt solar factory near Austin, supporting the clean energy theme. Amkor is working with AMD on advanced packaging after acquiring more land in Arizona, a positive for AMD and semiconductor supply chain. The Fed minutes were seen as the most hawkish in nearly three years, a bearish signal for growth stocks. Meta settled a school district lawsuit over teen mental health, removing a near-term legal overhang. A large dark pool order of 1.7M NVDA shares ($372.66M) was detected, suggesting institutional accumulation. The previous high-significance development of the US-Iran deal progress is carried forward as it has been corroborated and advanced.