WS #12244

The dominant signal in this window is the escalation of the US-Iran conflict, with multiple sources reporting a sixth consecutive night of US airstrikes, including a strike on Kish Island causing a blackout, and IRGC drone strikes on the Iraq-Kuwait border. This is corroborated by OSINT accounts and Bloomberg reporting oil extending its weekly advance on supply disruption fears. The Fed's Jefferson speech, already covered in the previous window, is being re-reported via Reuters headlines but contains no new data points beyond what was already synthesized. The AI chip selloff continues, with SMCI -8.2%, ORCL -6.3%, INTC -5.8% leading declines, corroborated by FT and social media. SpaceX Starship test flight 13 was aborted moments before liftoff, with stock falling 4%+ after-hours. New Mexico blocked a gas pipeline for Oracle's data center, a negative for ORCL. Netflix dropped 8% after earnings. China's Moonshot AI open-source model stuns the AI world, a competitive threat to US frontier labs. Canada wildfires are causing US air quality alerts, a negative for outdoor/consumer sectors. The dominant narrative is ESCALATING on the US-Iran conflict, STABLE on the Fed, and DE-ESCALATING on the AI trade as chip selloff deepens.