WS #9952

The dominant theme in this window is the US-Iran deal narrative, which is ESCALATING with new details. A senior US official stated Iran can sell oil immediately after the deal is signed this week, and that Iran can only sell oil if it abides by all points including free navigation in the Strait of Hormuz and no nuclear weapons. This is a bullish signal for oil markets (potential supply increase) but also a counter-signal to the previous Strait of Hormuz closure fears. Separately, a US intelligence assessment claims Iran can close the Strait of Hormuz at will, creating a tension between the deal optimism and underlying risk. On the corporate side, Rivian is laying off hundreds of workers (WSJ), a bearish signal for RIVN. SpaceX will acquire AI coding tool Cursor for $60B in an all-stock transaction, signaling consolidation in AI. Netflix stock slid 3.47% premarket after Fox outbid it for Roku in a $22B battle. BMW cut its 2026 outlook citing China downturn and Iran war. Yum China acquired Pizza Hut China brand for $1.2B. LLY acquired 4E Therapeutics. MSFT is weighing DeepSeek for Copilot Cowork (Axios).