WS #14081

The dominant US-Iran/Hormuz crisis narrative remains unchanged with no new counter-signals or de-escalation. Other previously reported themes (retail sales, consumer sentiment, Reddit S&P 500 inclusion, AMAT/CSCO moves) also show no new data points. The situation is stable, and no new actionable market signals have emerged. This window carries 5 key development(s), 3 at significance:high: Iran attacks two ADNOC tankers in Strait of Hormuz, oil prices firm; US July retail sales fall 0.6%, consumer sentiment slumps to 51.0; Applied Materials and Cisco fall despite strong earnings, tech fatigue. A further 2 development(s) sit below significance:high.