A single geopolitical headline reset the entire tape. Trump called off planned strikes on Iran, oil collapsed 5%, yields fell 7 basis points, and the Dow closed at a record 53,178. Palantir exploded after the bell on 93% revenue growth, Amazon crossed $3 trillion, and AstraZeneca suffered its worst day since 2020. Here's what moved, why it moved, and the three catalysts that come next.

Oil cracked below $80 after President Trump called off a planned strike on Iran, sending crude down 6% and lifting gold to $4,100. South Korea's Kospi lost 5.13% overnight while U.S. futures pointed higher, and AstraZeneca and Bristol Myers Squibb reportedly held talks on a $400 billion combination. Crypto sat the rally out entirely. Here's what's driving the rotation and what to watch this week.