WS #7485

The dominant signal in this window is the escalation of the Iran conflict, with multiple sources corroborating that Israel is preparing for a multi-week conflict and awaits Trump's decision within 24 hours. This is a significant escalation from the previous stable narrative. The Strait of Hormuz remains blocked, with Iran now engaging European countries for passage negotiations, which could be a de-escalation counter-signal. Separately, BlackRock's potential $5-10 billion investment in the SpaceX IPO is confirmed by multiple sources, maintaining high significance for space and tech sectors. The SpaceX IPO timeline (S-1 filing May 20, roadshow June 4, listing June 12) remains intact. The prevailing macro narrative of elevated oil prices and geopolitical tension is ESCALATING, with the Israel-Iran conflict intensifying. The Hormuz negotiations represent a potential de-escalation counter-signal, but the immediate focus is on the heightened risk of a broader conflict.