WS #7351

The dominant narrative from the previous window (SpaceX IPO, Cerebras, Figma, Papa John's, StoneCo, AAOI) remains stable with no new data points in this batch. However, several high-signal developments emerged in the last 30 minutes. Trump announced that China will order 200 aircraft from Boeing, a major deal that directly boosts BA's backlog and revenue outlook. Applied Materials (AMAT) reported a strong Q2 beat with EPS of $2.86 (+7% vs estimate) and revenue of $7.91B (+3% vs estimate), driven by the AI semiconductor super cycle, reinforcing bullishness for NVDA and the broader semi equipment space. UBS raised its NVDA price target to $275, corroborating the positive semi narrative. On the geopolitical front, the Strait of Hormuz disruption continues to support crude oil prices above $100, with Dow Chemical's CEO stating the company is 'hardly moving anything' through the strait and estimating 275 days for normalization. This is bullish for energy (XOM, CVX) and bearish for airlines and consumer discretionary. A Chinese-owned supertanker reportedly transited the Strait of Hormuz without paying the $2M toll, suggesting potential sanctions erosion. The Supreme Court's administrative stay on the mifepristone telehealth ruling lapsed, allowing restrictions to take effect, which could impact healthcare/pharma sentiment. SpaceX IPO prospectus expected next week (carried forward from prior window, still high significance).