WS #5816

The US-Iran conflict continues to dominate, with multiple sources reporting that the US is planning potential strikes on Iranian defenses in the Strait of Hormuz, and Trump claims US strikes have eliminated Iranian leadership. The Strait remains effectively closed, keeping oil prices elevated (Brent crude up 0.6% to $105.70). This is corroborated by Bloomberg, Reuters, and multiple social media sources. Separately, Meta has announced layoffs of 8,000 employees (10% of workforce) to focus on AI investments, while Intel reported strong earnings beating expectations, with revenue of $13.6B vs $12.4B expected, driven by AI demand. Intel's stock rose 13% in after-hours trading. Additionally, the US Navy Secretary John Phelan was fired amid tensions over the Iran blockade, signaling internal discord. Trump also threatened the UK with tariffs over digital services tax, which could impact tech stocks. The Indian embassy warned citizens to avoid travel to Iran, and oil prices are holding firm as the stalemate continues.