WS #8007
The US-Iran military escalation narrative is ESCALATING sharply. Multiple independent sources (CBS News, IRGC statements, NOTAM) confirm Iran has closed its airspace and is preparing for war resumption 'in the coming hours,' while the Trump administration is preparing new strikes. UAE has struck Iran in retaliation for attacks on its infrastructure, widening the conflict. This represents a significant escalation beyond the previous ceasefire frame. Separately, SpaceX launched its upgraded Starship V3 for the first time, though the booster was lost on return; the launch comes amid SpaceX's IPO filing, which could affect market sentiment around the stock. Tulsi Gabbard's resignation is a political development but has limited direct market impact. Drone debris triggered a fire at an oil terminal in Russia's Novorossiysk, adding to energy supply disruption risks. US manufacturing activity surged in May at the fastest pace in 4 years, a counter-signal to recession fears. Insider selling filings for CSCO, UAL, UPST, COIN, DASH, GM are routine and not market-moving.
Key developments
- Iran closes airspace, prepares for war resumption with US 'in coming hours'
- UAE strikes Iran in retaliation for attacks on its infrastructure
- SpaceX launches Starship V3, booster lost; IPO filing public
- Drone debris triggers fire at oil terminal in Russia's Novorossiysk
- US manufacturing activity surges in May, fastest pace in 4 years