WS #10829

The dominant signal in this window is a significant escalation in Iran-US tensions, with multiple corroborating reports of Iranian drone attacks on Bahrain and shipping in the Strait of Hormuz, following US airstrikes. This marks a clear escalation from the previously stable narrative. An oil tanker was struck by an unidentified projectile in the Strait, though crew and environment are safe. Separately, Ukraine struck a Russian oil hub supplying Moscow for the second time this month as part of a 40-day campaign. The Supreme Court sided with Roundup maker Bayer, blocking thousands of lawsuits. Anthropic received US permission to reoffer its Mythos 5 AI model to trusted entities. MarketWatch reports a significant rotation out of top tech stocks into the broader market, with the equal-weighted S&P 500 outperforming by the widest margin in six years. The Russell 2000 is poised for its best first half since 1991. A federal judge halted Trump's election executive order. John Bolton pleaded guilty to illegally retaining classified information. The European heatwave continues with fatalities reported in France. Apple is seeking permission to buy chips from Chinese blacklisted maker CXMT. Volkswagen plans to cut 100,000 jobs and close four plants due to Chinese EV competition.