WS #11688

The dominant narrative is a sharp escalation in US-Iran hostilities, with the ceasefire declared 'over' by Trump and fresh US strikes launched against Iran. This is confirmed by multiple sources (Bloomberg, FT, Al Jazeera, CNBC, GDELT, and various social media accounts). Oil prices surged ~5% (Brent to $78, WTI to $73.52), and equity futures slipped (S&P 500 futures -0.1%, Nasdaq -0.2%). The escalation is the most serious since the June memorandum. Counter-signals are absent; no de-escalation or diplomatic intervention has emerged. The narrative is clearly ESCALATING. Separately, Apple announced a multi-year chip manufacturing deal with Broadcom worth $30B, boosting AVGO (+4.8%) and NVDA (+3.7%). This is a MAG7 carve-out positive for AVGO and NVDA, contradicting the broader macro risk-off tone. Michael Burry disclosed long positions in DraftKings and Flutter, betting prediction-market threat will fade. Insider selling at Dell (Egon sold ~$24M worth) is notable but not market-moving. The US also moved to delist Syria as a state sponsor of terrorism, a geopolitical development but with limited immediate market impact.