WS #7299

The dominant signal in this window is the Cerebras (CBRS) IPO, which opened at $350, 89% above its $185 IPO price, pushing the market cap to ~$100B. This validates the acute AI silicon scarcity thesis and is corroborated by multiple sources (NYT, Bloomberg, Seeking Alpha, Benzinga). Separately, the CLARITY Act passed the Senate Banking Committee 15-9, sending crypto stocks and tokens higher (Coinbase, Bitcoin, XRP, Ethereum). This is a bullish regulatory catalyst for the crypto sector. On the macro front, US jobless claims rose to 211K vs 205K est., indicating a cooling labor market, while retail sales (+0.5%) remain firm. The 30-year bond yield is above 5%, adding pressure on growth stocks. Geopolitically, Iran allowed 30 vessels through the Strait of Hormuz after charging up to $2M per ship, a de-escalation signal that counters the oil supply crisis narrative. However, a US report claims China is secretly supporting Iran militarily, adding a new layer of tension. Boeing (BA) stock is falling after Trump announced China will buy only 200 jets, disappointing expectations. Nvidia (NVDA) continues its 7-day winning streak, nearing $6T market cap, with Cantor Fitzgerald seeing 49% more upside ahead of earnings. Cisco (CSCO) is the second-best DJIA stock YTD (+51%) on AI restructuring optimism. The narrative arc is ESCALATING for AI/crypto themes and DE-ESCALATING for the Hormuz crisis.