WS #10468

The data dump is dominated by routine SEC filings, sports betting on Polymarket, and non-market news. However, several actionable signals emerge. First, SpaceX shares have tumbled more than 16%, shedding $400bn in market value, driven by a rise in US bond yields and the company's first investment-grade bond sale. This is a significant reversal of the post-index-addition rally. Second, Qualcomm is in advanced talks to acquire AI chip startup Modular Inc. for ~$4B, which would boost its AI software capabilities and challenge NVIDIA's dominance. Third, Primoris Services cut its 2026 guidance due to renewable project cost overruns and its COO departed, a negative signal for the renewable energy sector. Fourth, IBM partnered with OpenAI on enterprise security AI, a positive for both companies. Fifth, a federal judge blocked the Trump administration's use of a citizenship data tool for voter screening, a political development with limited direct market impact. Sixth, Iran and the US reported progress on a Strait of Hormuz safety deal, and the release of $12B in frozen Iranian assets was finalized, with Trump stating the funds will purchase US agricultural products. This de-escalates geopolitical risk and is positive for US agriculture. Seventh, Rocket Lab set a responsive space record by launching a US Space Force mission in under 17 hours, a positive for RKLB. Eighth, Tesla faces a new federal probe after a Model 3 crash, adding to regulatory overhang. Ninth, North Korea's Kim Jong Un announced acceleration of building a 10,000-ton strategic guided missile cruiser, escalating regional tensions. Tenth, Apollo's private credit fund limited investor withdrawals after requests surged, a sign of stress in private credit markets. The prevailing macro narrative is stable with no major shifts, but the SpaceX selloff and Iran deal progress are notable counter-moves to prior trends.