WS #7880

The dominant theme in this window is the escalation of the Iran/Hormuz situation with new counter-signals. Iran and Oman are negotiating a permanent toll system for Strait of Hormuz passage, but US Secretary of State Rubio stated that such a tolling system would make a diplomatic deal unfeasible. This creates a new point of tension, partially offsetting the previous de-escalation narrative. Separately, the US Navy has deployed a strike group to the Caribbean following Castro accusations, adding a new geopolitical risk. On the corporate front, SpaceX has officially filed for an IPO under the ticker 'SPCX' on NASDAQ, with Goldman Sachs as lead underwriter, a high-signal development for space and tech stocks. Deep Fission, a nuclear company, also filed for a $156 million IPO. Quantum stocks continue to rally on the back of the Chips Act awards, with Arqit Quantum reporting better-than-expected H1 sales. Target posted a Q1 beat but stock fell on cautious outlook, while Walmart plans price cuts using tariff refunds, indicating consumer stress. The US economy is showing strain from the Iran war, with S&P surveys showing rising business costs and pared demand. The dominant narrative is Iran/Hormuz ESCALATING with new tolling system dispute, while the US Navy Caribbean deployment adds a fresh geopolitical dimension.