WS #7049

The dominant narrative remains the Iran crisis, which is ESCALATING. President Trump has rejected Iran's response to a peace proposal, calling it 'totally unacceptable,' and stated the ceasefire is 'on massive life support.' Oil prices are rallying on this news, with WTI crude oil Polymarket contracts showing interest in closing above $93. The US-Iran peace deal markets reflect low probability of near-term resolution. Trump is also considering Venezuela statehood and proposing to suspend the federal gas tax to combat soaring prices. Separately, Apple announced end-to-end encrypted RCS messaging rolling out in beta, which could pressure Alphabet's messaging dominance. Qualcomm shares are surging ~8% on track for a new all-time high, driven by Trump's China trip delegation inclusion and potential trade deal optimism. Nvidia saw a $5.1M whale call option purchase, signaling bullish sentiment. UK political turmoil is escalating with Starmer facing resignations and calls to quit, but this has limited direct US market impact.