The market rallied today after a two-week US-Iran ceasefire was announced. The Dow jumped 1,300 points and crude oil dropped 15% to around $93 as the Strait of Hormuz is set to reopen. Tech and chip stocks like Broadcom, Micron, and Meta led the way, while energy stocks naturally lagged. Lower oil prices have eased inflation fears. The market is now pricing in a 43% chance of a Fed rate cut by December, up from 14% before the news. Some specific company updates: Meta launched a proprietary AI model called Muse Spark. They are officially moving away from their open-source strategy to better compete with OpenAI and monetize. FedEx is spinning off its freight unit on June 1. It will trade on the NYSE under the ticker FDXF. Ford is struggling with aluminum tariffs after a supplier plant fire. The government denied their request for relief, which Ford estimates will cost them another $1 billion this year. GoPro is cutting 23% of its workforce after missing profitability targets and dealing with high memory costs.