WS #11778

The dominant signal in this window is the escalating US-Iran conflict, with multiple sources reporting renewed strikes, a collapsed ceasefire, and mediators scrambling to salvage the interim deal. The IEA warns that a return to war could upend oil market recovery, while oil prices have failed to push higher as traders price in a short-lived conflict. This creates a mixed signal for energy markets: bullish for oil stocks if conflict persists, but bearish if de-escalation occurs. Separately, Delta Air Lines reported record revenue and a profit beat despite surging fuel costs, with stock climbing on strong guidance. The EU's preliminary finding that Meta's addictive design breaches the Digital Services Act is corroborated by multiple sources, with potential fines up to $12 billion, creating a bearish overhang for META. Shein received China approval for Hong Kong IPO, a positive signal for the fast-fashion sector. SK Hynix's Nasdaq debut is heavily oversubscribed (7x demand), indicating strong investor appetite for semiconductor exposure. The narrative arc is ESCALATING for US-Iran conflict, STABLE for Meta regulatory risk, and POSITIVE for airlines and semiconductors.