WS #6521

The Iran-US conflict is ESCALATING sharply, with multiple sources confirming Iranian drone strikes on UAE oil facilities in Fujairah, causing a large fire, and Iran warning it will target Americans if they advance in the Strait of Hormuz. EgyptAir suspended flights to the UAE. The US pushed to reopen the Strait as oil prices surged (WTI +4.39%, Brent +5.8%). Chevron CEO warned global oil supplies are 'tightening'. Diamondback is raising output immediately, partially offsetting supply fears. The White House was briefly locked down due to a nearby shooting, but this appears isolated. On earnings, Palantir posted a massive beat (Q1 revenue $1.63B, +85% YoY, raised guidance), Pinterest also beat and guided above consensus, and Firefly Aerospace, Innovex, and others reported strong results. Elon Musk settled the SEC lawsuit over Twitter disclosures for $1.5M, removing a legal overhang for TSLA. Ukraine declared a ceasefire starting May 5-6, but Russia announced a separate truce for May 8-9, with both sides continuing strikes, making this low-significance. The dominant theme remains oil supply disruption, with energy stocks bullish and consumer/airline stocks bearish. The Musk settlement is a positive for TSLA. Palantir's results reinforce AI demand.