WS #7907

The dominant narrative remains the escalating Iran/Strait of Hormuz crisis, with multiple corroborating signals in this window. A senior Iranian source told Reuters that no deal has been reached yet but gaps have narrowed, while Iran steps up its claim to control the Strait of Hormuz (BBC). Polymarket contracts continue active trading on Strait of Hormuz normalization and US-Iran peace deal timelines, indicating sustained market attention. The Pentagon's potential scrapping of an $80M loan to rare-earths refiner ReElement Technologies is confirmed by Bloomberg Law, provoking a White House clash—this is a high-signal development for rare earths and defense supply chain stocks. On the corporate side, Enphase Energy surged 17.8% to a 52-week high after Goldman Sachs highlighted its data center transformer opportunity, a positive signal for ENPH and clean energy infrastructure. Ross Stores reported robust Q1 sales and earnings significantly exceeding guidance, a positive for ROST and retail. Workday announced fiscal Q1 results, and Roblox edged higher after authorizing its first share repurchase. The Republican infighting over funding ICE and Border Patrol is confirmed by NBC, indicating political dysfunction. The Canada Pension Plan Investment Board warned on AI-fueled valuations, adding a note of caution to the tech narrative. Overall, the Iran/Hormuz escalation is the highest-signal theme, with potential for oil price spikes and broad market risk-off. The Pentagon rare earths clash adds a specific supply-chain angle. Enphase's surge and Ross Stores' beat are actionable for specific tickers.