WS #11446

The dominant theme in this window is the OPEC+ decision to raise production quotas by 188,000 bpd from August, confirmed by multiple sources (GDELT, BBC, Reuters, manager magazin, etc.). This is the third consecutive monthly increase and comes as Strait of Hormuz traffic gradually resumes, easing supply constraints. The decision is bearish for oil prices and energy stocks, but bullish for consumer discretionary and airlines. Separately, Foxconn reported Q2 revenue up 39.8% YoY, beating estimates on strong AI demand, which is bullish for AAPL and NVDA. Trump spoke with Putin for 90 minutes, offering to help end the Ukraine war, which could de-escalate geopolitical risk. Iran continues to tighten control over Hormuz, with IRGC warnings forcing ships to turn back, partially offsetting the OPEC+ supply increase. The narrative arc is: OPEC+ supply increase (ESCALATING), Strait of Hormuz reopening (STABLE but contested), Ukraine war de-escalation (NEW).