WS #6757

The dominant signal in this window is the confirmed US-Iran military clash in the Strait of Hormuz, with multiple sources (NBC, Bloomberg, Al Jazeera, BBC, and social media) corroborating active US strikes on Iranian targets and Iranian attacks on US Navy destroyers. Oil prices have reacted sharply, with US crude futures rising 3.03% to $97.68/bbl. However, a potential counter-signal emerges: Trump told ABC News a ceasefire is 'in effect' and described the strikes as 'love taps,' while Iran's Press TV claims the situation on Iranian islands is 'back to normal.' The DOJ is probing trades in oil futures and prediction markets ahead of the Iran news, adding a layer of regulatory risk. Separately, the US Court of International Trade struck down Trump's 10% global tariffs, a development covered by Al Jazeera and Seeking Alpha, introducing legal uncertainty around the tariff regime. In corporate earnings, Cloudflare (NET) fell 18% after-hours despite beating estimates, as it announced a 20% workforce reduction due to AI changes. CoreWeave (CRWV) dropped 10% on light Q2 guidance. Coinbase (COIN) fell 4% after a surprise Q1 loss. Conversely, IREN surged on a $2.1B Nvidia investment deal. Bill Holdings (BILL) jumped 7.5% after announcing a 30% workforce reduction. The US-Iran conflict narrative is ESCALATING but with early de-escalation signals from Trump's ceasefire comments.