WS #6359

The dominant market-moving themes in this window are: (1) Trump's announcement of a 25% tariff on EU cars and trucks, escalating trade tensions and hitting European automakers (BMW, Mercedes, VW) while potentially benefiting US domestic producers (F, GM, TSLA). (2) The Iran war situation remains unresolved: Trump rejected Iran's latest proposal, declared the War Powers Act unconstitutional, and sent letters to Congress claiming the ceasefire means he doesn't need authorization. Oil prices fell ~3% on the proposal news but remain elevated near $100/bbl WTI due to the Strait of Hormuz closure. (3) Spirit Airlines is preparing to shut down after bailout talks broke down, with JetBlue and Frontier poised to gain. (4) Pentagon signed classified AI deals with seven tech giants, excluding Anthropic. (5) Meta acquired Assured Robot Intelligence for humanoid robots. (6) Apple discontinued the 256GB Mac mini, effectively raising the starting price. (7) Tesla disclosed $573M in revenue from SpaceX and xAI. (8) US gas prices hit four-year highs, averaging $4.39 nationally, with consumer behavior shifting. (9) The US warned shippers of possible sanctions if they pay Hormuz tolls. (10) Venezuela's oil exports hit a seven-year high. The US-EU tariff escalation is a new development that adds to the already complex macro backdrop of war, energy crisis, and trade fragmentation.