WS #8472

The dominant narrative is the US-Iran situation, which is now showing signs of de-escalation. Multiple sources (NBC, Axios, Bloomberg, VP Vance) report that negotiators have reached a tentative deal to extend the ceasefire by 60 days, pending approval from Trump and Iran's leadership. VP Vance stated the US and Iran are 'very close' to a deal. This development counters the previous conflicting signals and bearish oil/risk asset thesis. Separately, a Russian drone struck a residential building in Galați, Romania, a NATO member, marking a direct escalation in the Russia-Ukraine conflict and potentially drawing NATO closer to direct involvement. This is corroborated by multiple sources. In corporate news, Cathie Wood's ARKF rebalanced, buying FUTU and selling ICE, KSPI, and HOOD, signaling a rotation into Asian digital finance. Dell's strong earnings (88% YoY revenue growth) continue to drive positive sentiment in the tech sector. Japan's Nikkei rose 1.6% in early trading, and Tokyo CPI unexpectedly cooled, complicating BOJ rate hike expectations. Gold held gains on the Iran ceasefire news, which eased inflation concerns.