WS #8465

The dominant narrative remains the US-Iran ceasefire extension, with the NYT reporting a draft extension is being prepared. However, the US military has denied Iranian claims of downed US aircraft, and Iran has threatened a response to a reported strike in Bandar Abbas. This is a de-escalating but fragile situation. Separately, a major AI software rally is underway, led by Snowflake's 36% surge on a Q1 beat and $6B AWS deal, with Dell also surging 69% in 20 days after Trump's endorsement. NetApp and MongoDB also reported strong earnings. Nikkei futures are trading significantly higher, indicating positive Asian market sentiment. Insider selling at GM and UAL, and a hedge fund pushing for Sempra to spin off Oncor, are notable company-specific signals.