WS #11012

The data dump is dominated by noise: sports betting on Polymarket, routine analyst rating changes, SEC filings, and non-market news. However, several high-signal items emerge. First, the Supreme Court issued multiple rulings this morning: it upheld counting mail-in ballots postmarked by Election Day (5-4), ruled that Trump can fire independent agency heads (including Fed Governor Lisa Cook), and left Trump's sexual assault verdict intact. These rulings have direct market implications: the Cook ruling threatens Fed independence and could introduce political uncertainty into monetary policy, while the mail-in ballot ruling may reduce election-related volatility. Second, Rocket Lab announced a transformative $8B acquisition of Iridium, creating a vertically integrated space powerhouse. Third, Amazon's Prime Day crushed estimates with $26.4B in spending, driving AMZN up 4%. Fourth, Ukrainian drone strikes continue to cripple Russian oil refining capacity, with fuel shortages spreading to 50+ Russian regions and police deployed at gas stations. This supports elevated oil prices. Fifth, Alphabet joined the Dow but faces AI execution doubts. Sixth, SpaceX will join the Nasdaq-100 on July 7, driving SPCX up 3%. The prevailing macro narrative is mixed: tech stocks are rallying (NASDAQ +1.33%) despite AI capex concerns, oil is up 2%, and the Dow is modestly higher. The SCOTUS rulings on Fed independence and executive power are the most significant new developments with potential to move markets in the next 1-8 hours.