WS #8253

The dominant narrative remains the US-Iran military escalation, with new US self-defense strikes in southern Iran reported early Tuesday, dampening optimism from Trump's earlier peace deal hints. Brent crude rose 2.7% to $98.73, while WTI futures showed a 4.3% drop to $92.44, reflecting mixed signals. European stock futures are set to open lower (FTSE -0.58%, DAX -0.34%). ECB's Isabel Schnabel signaled a rate hike next month regardless of Middle East resolution, citing persistent inflation and spillover effects from energy prices. Separately, Futu Holdings (FUTU) plunged 28% after China proposed a $271M penalty for unlicensed operations, a significant single-stock event. Ondo Finance founder Nathan Allman passed away, with Ian De Bode stepping in as CEO; the firm has $3.5B TVL. Meta's CTO is pushing for an AI-driven workforce with fewer managers, per a report. The US-Iran situation is ESCALATING with new strikes, countering the peace deal narrative. The ECB rate hike signal is a new development that could pressure growth stocks.