WS #11377

The dominant signal in this window is the re-escalation of the Strait of Hormuz crisis, with Iran firing on ships and re-imposing restrictions after a brief reopening. This directly threatens global oil supply and reverses any de-escalation hopes, pushing crude prices higher. The narrative arc is ESCALATING. Separately, the Ukrainian drone strike on the St. Petersburg oil terminal is now confirmed by multiple sources including AP and President Zelensky, marking a significant escalation in the energy war. On the tech side, Tesla faces a barrage of negative news: a fatal crash involving its self-driving tech, loss of the global EV crown to BYD, and a German accident, creating a bearish overhang for TSLA. Meanwhile, OpenAI and Broadcom have unveiled a new AI chip 'Jalapeño', which is positive for Broadcom but negative for NVDA as it signals reduced dependency. The US jobs data from the previous window remains the key macro backdrop, with cooling labor market supporting a pause in rate hikes.