WS #11880

The dominant signal in this window is the escalating Iran-US crisis, with multiple sources confirming the ceasefire is over and Iran has rejected the US ultimatum to reopen the Strait of Hormuz. Trump declared the ceasefire 'over' and Iran's new Supreme Leader vowed revenge for his father's killing. Oman is mediating, proposing a two-corridor solution, but Iran's foreign minister could not approve it. This is a significant escalation from the previous 'stable' narrative. The Strait of Hormuz blockade continues to disrupt oil supply, with UAE oil production hitting a record high after leaving OPEC, partially offsetting supply fears. Energy prices are rising, hurting US farmers and airlines. Separately, Apple has filed a lawsuit against OpenAI for theft of trade secrets, a new development that could impact AI partnerships. Nvidia stock is showing a rare bullish chart pattern, contradicting the broader tech selloff narrative. Elon Musk's net worth dropped $407 billion as SpaceX stock dives, a negative signal for TSLA and related space/tech sentiment.