WS #5787

The Iran-Israel conflict continues to escalate, with multiple corroborating reports: Iran seizes two container ships near the Strait of Hormuz using swarms of small boats, challenging US naval dominance; Trump claims he is keeping the Strait of Hormuz closed, not Iran; Hezbollah launches rockets toward northern Israel citing ceasefire violations; Israeli airstrikes hit southern Lebanon. Oil prices surge, with Brent crude briefly above $107 and WTI above $97, reflecting supply disruption fears. Separately, Meta plans to cut 8,000 jobs (10% of workforce) as it doubles down on AI spending up to $135 billion. Nike cuts 1,400 jobs in another layoff round. Baker Hughes Q1 earnings beat estimates. Coursera shares tank after disappointing Q1 results and guidance. The Iran conflict remains the highest-significance development, with direct implications for oil prices, energy stocks, and broader market risk sentiment. The Meta layoffs signal ongoing cost-cutting in tech, while Nike layoffs indicate continued retail weakness.