WS #3115

The data dump reinforces and escalates the ongoing geopolitical energy crisis, with Iran formally rejecting the US ceasefire offer and demanding sovereignty over the Strait of Hormuz, corroborated by multiple sources including CNBC, BBC, and Al Jazeera. This closure threatens 20% of global oil supplies, with oil prices surging past $110/barrel, directly impacting energy stocks and bearish for airlines and consumer sectors. Concurrently, Russia's oil export capacity has dropped 40% due to Ukrainian attacks, creating a dual-supply shock. The International Energy Agency (IEA) head is prepared to release additional oil reserves if necessary, indicating potential market interventions. In technology, a major bearish development is confirmed with Google's TurboQuant AI algorithm reducing memory needs by 6x, causing sharp declines in memory stocks (MU -4.1%, SNDK -4%), which counters the bullish AI infrastructure thesis. Additionally, a US jury has reached a verdict in the youth social media addiction trial involving Google and Meta, which could impact tech sector sentiment. Other signals include SpaceX planning to file its IPO prospectus, potentially boosting space-related stocks, and ongoing airport security disruptions with 480 TSA officers quitting, adding pressure to airlines.