WS #9654

The dominant signal in this window is the escalating US-Iran peace deal narrative, now with multiple corroborating sources indicating a final agreed text is near. Iran's top negotiator Araqchi stated that the end of the US blockade and reopening of the Strait of Hormuz is part of an interim deal, and that the end of war on all fronts, including Lebanon, will be announced under the interim deal. However, Trump denied an imminent deal, calling Iran 'very dishonorable,' creating a counter-signal that injects uncertainty. The SpaceX IPO continues to dominate with a $2T+ valuation, but no new material data points beyond the existing narrative. Meta's internal memo to curb employee AI usage due to soaring costs is a new development that could pressure META sentiment. The overall US-Iran theme is ESCALATING toward a potential deal, but Trump's denial acts as a counter-signal.