WS #10810

The dominant signal in this window is the ongoing US-Iran military escalation, which is escalating further. Multiple sources confirm US airstrikes on Iranian targets in Sirik and Qeshm Island, with Iran's IRGC retaliating by targeting US Army deployment locations. The US strikes are reported to be over after a 90-minute assault, but Iran warns of broader response. This continues to drive oil prices higher, benefiting energy stocks (XOM, CVX, XLE) while hurting airlines (DAL, UAL, AAL). Defense stocks (LMT, RTX) are markedly higher. Separately, the US has lifted its block on Anthropic's Claude Mythos 5 AI model, releasing it to over 100 US institutions, which is a positive for AI-related tech stocks. SpaceX bonds are selling off after a $25bn debt deal, with yields moving towards junk levels. Oracle (ORCL) closed its worst week since 2001, down 19.4%. Invesco's Kriskey says oil price freefall is 'overdone'. A magnitude 5.4 earthquake struck offshore Venezuela, later downgraded to 4.9. Canada could supply nearly 22 million metric tons of crude oil to China annually, up from 15.5 million. Geely's Lotus China-made EVs to arrive in Canada in July. Goldman Sachs boosted its 10-year AI job displacement estimate to 9% of US workforce (15 million workers).