WS #12259

The US-Iran conflict continues to escalate, with new developments in the last 30 minutes. The US has expanded its overnight strikes to include Iranian bridges and an airport, while the IRGC has claimed attacks on US command centers in Syria and HIMARS in Kuwait. Crucially, the IRGC has threatened that no oil or gas will pass through the Strait of Hormuz if strikes continue, a direct threat to global oil supply. This is corroborated by multiple sources: a Bluesky post citing Haaretz reports the expanded strikes and the Hormuz threat, another post claims IRGC destroyed US HIMARS in Kuwait, and a third claims IRGC attacked a US command center in Al-Tanf, Syria. Oil prices are already heading for a 12% weekly gain, the biggest since April, as the Strait of Hormuz disruption fears intensify. In a potential counter-signal, VP Vance accused Israel of manipulating US public opinion to prolong the war, suggesting internal US administration friction that could eventually lead to de-escalation. Separately, PayPal's board views a $53B Stripe-Advent bid as inadequate, which could lead to higher bids or a bidding war, impacting PYPL. Meta is pouring $145B into AI capex by 2026, a massive commitment that could pressure META margins but also signal long-term AI leadership. Coronation Fund trimmed TSMC and SK Hynix on AI hype, rotating into India stocks, a bearish signal for semiconductor names. Michael Burry says it's a 'good time' to chase Hong Kong stock bargains, a contrarian bullish signal for Chinese tech. The dominant narrative is the US-Iran conflict ESCALATING, with the new threat to Hormuz significantly raising the stakes.