WS #11427

The dominant narrative remains the funeral of Iran's Supreme Leader Khamenei, which is ongoing and drawing massive crowds. This event is STABLE — no new escalation or de-escalation signals emerged in this window. The key market-moving development is the continued Iranian control over the Strait of Hormuz, with Iran warning against foreign military presence and reports of vessels being turned back. This supports elevated oil prices and energy sector bullishness. Separately, a social media post claims Broadcom (AVGO) guided $16B AI chip revenue for Q3 vs. $17.2B expected, attributing the semi selloff to this miss rather than macro data. If accurate, this is a significant negative signal for semiconductors. Other notable items include BYD surpassing Tesla in Q2 EV sales, Canada advancing a new Pacific pipeline to diversify oil exports, and SpaceX's upcoming inclusion in the Nasdaq-100 on July 7. Most other data is noise — sports bets, routine political speculation, and spam.