WS #11810

The dominant theme remains the US-Iran conflict, which is ESCALATING. Trump stated the ceasefire is over but agreed to more talks, while the US issued new Iran-related sanctions and the US Navy vowed to defend Hormuz navigation. Iran's Tasnim reported a fire at a small refinery, and GDELT sources indicate Strait of Hormuz traffic blocked. Oil is on track for weekly gains (Brent ~6% up). Separately, SK Hynix CEO expects memory shortage to last into next decade, reinforcing the bullish semiconductor thesis. KeyBanc downgraded Salesforce (CRM) to Sector Weight on Agentforce adoption doubts. Circle (CRCL) shares jumped 14% after winning federal approval for a national trust bank. OpenAI's Fidji Simo (CEO of AGI Development) stepped down, a major leadership change. The Fed's new AI task force includes Marc Andreessen and Xbox CEO, signaling AI policy focus. European shares snapped a four-week winning streak on tech selloff and US-Iran war. Meta (META) is up 5.08% on the day, a bullish MAG7 carve-out. Moderna (MRNA) is getting pounded, down ~10.68%. Intel (INTC) is lower after JPMorgan listed it as a top short idea. NRIX landed a $700M Roche deal. BHP explores sale of Chilean desalination plant. US issues general license for wind-down with Smart Global Limited. Prince Harry and family visited King Charles for the first time in 4 years. Ann Widdecombe murder arrest. LeBron James will not return to Lakers, hitting free agency.