WS #11919

The dominant market-moving theme is the sharp escalation in US-Iran hostilities, with Iran closing the Strait of Hormuz indefinitely and the US launching fresh strikes. This has driven oil prices up ~6.5% (Brent to $77.47, WTI to $73.54), creating a bullish signal for energy stocks (XOM, CVX, XLE) and bearish for airlines (DAL, UAL) and consumer stocks. The ceasefire is effectively over, with both sides resuming attacks and Iran striking Gulf states. Separately, Apple has sued OpenAI for trade secret theft, naming former employees, which could pressure AAPL sentiment near-term but is unlikely to move the stock materially. Nvidia's Kyber AI system delay to 2028 is a negative for NVDA but the stock has already rallied 10% last week. Microsoft is cutting 4,800 jobs, a modest negative. The Iran situation is the highest-signal development, with cross-source corroboration from BBC, Guardian, Al Jazeera, AP, and multiple OSINT accounts. The narrative is ESCALATING.