WS #14228

The US-Iran conflict remains the dominant market driver, with the Strait of Hormuz shipping near-halt persisting (only 5 vessels Saturday, none Sunday) and no progress in negotiations, keeping oil prices elevated (Brent ~$88.7, WTI ~$82.35). This is corroborated by multiple sources (EconoTimes, GDELT, KURV). A notable new development is the claim by former US lawmaker Marjorie Taylor Greene that Washington is discussing a nuclear strike on Iran, which, while unverified, adds to geopolitical risk and could further support oil and safe-havens. Counter-signals include Treasury Secretary Bessent's confidence that Hormuz throughput will increase, and the Mecca Joint Defence Agreement (Saudi, Turkey, Pakistan) providing a stabilizing framework, though neither has yet offset supply disruption. Japan's Q2 GDP came in at 1.1% annualized, below the 2.0% expectation, signaling economic slowdown in Asia, which could weigh on global growth sentiment. Meanwhile, Nvidia's $500 billion AI infrastructure financing plan, supported by Morgan Stanley, underscores the AI boom, but Nvidia's reduction of OpenAI infrastructure guarantees introduces caution. Alibaba's AI models hitting 3 billion downloads and its plan to sell gaming arm for $1.5B highlight its AI pivot, supporting BABA. The macro narrative is ESCALATING on Middle East tensions, with oil and gold (at $4,400/oz) as key beneficiaries, while airlines and consumer discretionary face headwinds.