WS #9643

The dominant signal in this window is the accelerating US-Iran nuclear deal, with a senior administration official providing extensive detail via Reuters: the deal reopens the Strait of Hormuz, includes an inspection regime, dismantles Iran's nuclear program, and transfers enriched material to the US. The official stated the US expects to sign 'over the next few days,' that Iran's Supreme Leader is comfortable, and that Israel will get on board. This is a major escalation of the peace narrative, directly countering the prevailing oil supply crisis thesis. Oil prices are already reacting, with WTI down ~3.9% and Brent down ~3.8% in the data, and oilprice.com reporting the US military is helping move 7 million bpd out of the Persian Gulf. The SpaceX IPO narrative continues but is now secondary; the stock opened at $150 (11% pop) and surged to $175, making Elon Musk the world's first trillionaire. However, space/satellite stocks are tumbling as capital rotates into SpaceX. A notable MAG7 carve-out: Tesla (TSLA) is sliding as investors rotate into SpaceX, with Wedbush's Dan Ives suggesting a potential TSLA-SpaceX merger within a year. Separately, a $2.4M whale bought 5,740 INTC $140 calls expiring June 26, signaling bullish sentiment on Intel. The Iran deal is the primary market mover, with oil-sensitive sectors (airlines, refiners, EVs) likely to see significant shifts.