WS #8968

The dominant theme in this window is the continued escalation of the Middle East conflict, with the US House passing a War Powers Resolution to halt Trump's Iran war, though it remains largely symbolic. Separately, Israel and Lebanon have agreed on a ceasefire framework in US-led talks, but Hezbollah's rejection of the talks leaves enforcement uncertain, creating a mixed signal. On the corporate front, Columbus McKinnon (CMCO) missed Q4 earnings estimates, while X-Energy (XE) reported Q1 revenue that missed estimates. Bitcoin continues its five-day losing streak, with more than half of circulating supply now at a loss, a historically bearish signal. The EU is delaying bank trading-book rules to blunt Wall Street advantage, which could impact US bank competitiveness. A new wildfire in Los Angeles County adds to domestic risks. The narrative arc for the Middle East is STABLE with mixed signals: the House vote is an escalation in political pressure, but the Israel-Lebanon ceasefire framework is a de-escalation. The tech sector faces headwinds from Broadcom's miss (carried forward) and rising job cuts in US tech companies.