WS #7957

The dominant signal in this window is the University of Michigan Consumer Sentiment Index falling to a record low of 44.8 (from 48.2 preliminary), confirming stagflation fears as the Iran war drives gasoline prices higher. This is corroborated by CNBC, Bloomberg, and multiple social media posts. The data reinforces the stagflation narrative and increases the probability of Fed rate hikes (Polymarket shows >70% chance of one or more hikes by end of 2026). Kevin Warsh's swearing-in as Fed Chair at 11am ET is a key event to watch. Separately, GameStop board asks shareholders to increase share count (Bloomberg, multiple sources), which is dilutive and bearish for GME. Dell Technologies received a price target raise from Wells Fargo to $270 (from $180), and the stock is surging 5% today, reaching $175B market cap. Meta quietly launched a Reddit-like app called Forum, which is a minor positive for META but not a major catalyst. Putin is escalating rhetoric over a Ukrainian drone attack on a student dormitory in Luhansk, calling it a 'monstrous crime' and asking defense ministry for retaliation options, which could escalate the Russia-Ukraine conflict. The Iran/Strait of Hormuz situation remains stable with no new escalation signals. Overall, the stagflation narrative is ESCALATING with the consumer sentiment data, while the Iran situation is STABLE.