WS #9860

The dominant narrative remains the US-Iran peace deal, which has now been formally signed via MOU, with implementation details emerging. Senior US officials confirmed the MOU was signed by Trump, Vance, and the Iranian Parliamentary Speaker, providing for immediate reopening of the Strait of Hormuz and lifting of the US naval blockade. Iran's Foreign Minister stated the first round of negotiations will follow the MOU signing, with a possible meeting in Switzerland on Friday. This represents an ESCALATION in implementation from the previous window's 'deal reached' to 'deal signed and being implemented.' However, counter-signals persist: Israel's Defense Minister Katz reiterated the IDF will remain in Lebanon, Syria, and Gaza 'indefinitely,' and Israeli airstrikes on Beirut's southern suburbs indicate residual geopolitical risk. The market impact is clear: oil prices continue to fall (WTI -5.63%, Brent -5.29%), cruise stocks are trading higher on easing oil, and homebuilders are climbing on lower rate hike bets. Separately, several high-significance company-specific developments surfaced: Fiserv CEO abruptly exits for Truist, causing FISV stock to drop 8%; Nvidia is launching a $20 billion bond deal to refinance debt; SpaceX's IPO has raised another $10.7 billion as underwriters exercised the option; and Microsoft is being sued by shareholders over expenses, cloud business, and AI. The US manufacturing production stalled in May after four months of gains, suggesting supply chain disruptions from the Iran war may be weighing on activity.