WS #7978

The dominant signal in this window is the resignation of Tulsi Gabbard as Director of National Intelligence, confirmed by multiple major outlets (Al Jazeera, BBC, AP, Fox News) and by President Trump himself. The resignation is effective June 30, 2026, with Deputy Director Aaron Lukas serving as Acting DNI. While officially attributed to her husband's cancer diagnosis, some sources suggest White House pressure. This creates ODNI continuity risk and adds to the narrative of Trump administration turnover. Separately, Gilead Sciences received FDA accelerated approval for Hepcludex, the first treatment for chronic hepatitis delta virus, which is a positive catalyst for GILD. Zoom Video Communications jumped on a sales forecast that topped estimates, a positive signal for ZM. Micron CEO sees memory chip shortage lasting beyond 2026, which is bullish for MU. On the geopolitical front, UAE, Saudi Arabia, and Qatar urged Trump to prioritize diplomacy with Iran, while Iran tightens grip on the Strait of Hormuz and the US seizes an Iranian tanker, indicating escalation. Putin outlined conditions for ending the Ukraine war by year-end, contingent on control of Donbas and security guarantees from Europe. The S&P 500 is riding AI optimism toward its longest winning streak since 2023, with Q1 YoY EPS growth expected at 28.4% (best since Q4 2021).