WS #8282

The dominant signal in this window is the escalation of the Israel-Lebanon conflict, with multiple sources reporting Israeli ground forces pushing deeper into Lebanon and airstrikes on Nabatieh, alongside Hezbollah retaliatory attacks. This represents an escalation of the broader Middle East crisis. Separately, the U.S. Navy has reportedly resumed 'Project Freedom' to escort commercial vessels through the Strait of Hormuz, a counter-signal that partially offsets the oil supply disruption narrative, though the U.S. has denied the claim. Space stocks continue to surge on SpaceX IPO euphoria, with multiple sources corroborating the rally. A key MAG7 carve-out: Qualcomm (QCOM) has secured a major AI chip deal with ByteDance, contradicting the broader tech narrative. The Russian court upheld a ruling against Euroclear, and VTB announced a large SPO, adding to Russia-related financial noise. The Fed rate hike narrative is gaining traction, with traders pricing in a hike by December, and former NY Fed President Dudley warning of credibility loss.