WS #8468

The dominant narrative in this window is the US-Iran situation, which is DE-ESCALATING. Multiple sources report that the US and Iran have tentatively agreed to extend the ceasefire by 60 days, potentially allowing Strait of Hormuz shipments to resume. This is corroborated by Bloomberg, a Seeking Alpha-linked post, and Polymarket contracts on Iran ceasefire extension. The US military has denied Iranian state TV claims of downing a US aircraft, and Vance stated Trump hasn't endorsed a deal due to enrichment disagreements. However, a conflicting BlueSky source claims new US airstrikes against Iran, while another says Israel told the US any return to war would require strikes on Iran's entire energy infrastructure within 24 hours. The net effect is mixed: the ceasefire extension is bullish for oil supply normalization (bearish for oil prices), but the risk of escalation remains high. Oil edged lower on the ceasefire news. On the earnings front, several tech companies reported strong results. Snowflake (SNOW) surged 36% after-hours on a Q1 beat and a $6B AWS deal, igniting a broad AI software rally with ARM +10.8%, MDB +10.6% (+22% AH), NET +9%, PLTR +8.2%. Dell (DELL) beat estimates significantly, with revenues beating by $8B and EPS beating by 68%, raising full-year guidance; DELL +40% after-hours. Elastic (ESTC) beat earnings but dropped -9.3% after-hours on disappointing guidance. First Solar (FSLR) soared to a multiyear high ahead of an anticipated Section 232 tariff announcement. These earnings signals are bullish for the tech/AI sector and could drive further upside in the next trading session. Other notable signals: A hedge fund (Voss Capital) is pushing Sempra to spin off its Texas electricity unit Oncor, which could impact SRE stock. The Louisiana House approved a new congressional map eliminating a majority-Black district, a political development with potential market implications for related sectors. Japan's rising bond yields are flagged as a risk of inflation increasing too much, which could impact global bond markets. The US is turning Cold War plutonium into nuclear fuel, which could benefit nuclear energy companies. The US quietly delisted Russian vessels and Igor Sechin's son from sanctions, a geopolitical development that could affect energy markets. Ukraine struck Russian energy infrastructure in Volgograd, and a Ukrainian drone attack sparked a fire at an oil refinery there, which could support oil prices. The ACCC is suing Amazon over button batteries in kids' backpacks, a regulatory risk for AMZN.