WS #11194

The dominant signal in this window is the continued escalation of Meta's cloud infrastructure announcement, which has driven META shares up ~9-10% to around $617. This development directly addresses the biggest overhang on the stock—monetization of AI capex—and is corroborated by multiple sources (Bloomberg, Seeking Alpha, social media, Jefferies). The narrative is ESCALATING as Jefferies reiterates Buy with $825 target and multiple analysts weigh in positively. Separately, oil markets show a clear de-escalation signal: key US oil grades slump as Strait of Hormuz traffic normalizes, with Brent falling to $71.57 and WTI to $68.28, both at 4-month lows. This is corroborated by GDELT reports of US-Iran de-escalation and a one-week truce in the Strait. In MAG7, META's cloud pivot is a strong positive contradicting the broader tech selloff narrative, while MSFT shows large dark pool activity ($155M order) suggesting institutional accumulation. Other notable items include: Alibaba to pay $600M to settle US probe (bearish BABA), Robinhood rolling out public blockchain (bullish HOOD), and Bitcoin falling to 21-month lows with record $4.5B ETF outflows in June (bearish crypto). The Fed's Warsh picks ex-BOE chief Mervyn King for communications task force, a neutral development. Gold posts worst quarter since 2013, down 16%, as rate hike odds climb.