WS #8381

The dominant signal in this window is the escalation of Iran's demands, with the parliament security chief stating Tehran won't back down on uranium enrichment and Strait of Hormuz control, and a separate demand for all US forces out of the Gulf plus $300B for reconstruction. This corroborates the ongoing Iran tensions narrative and is ESCALATING. On the earnings front, Snowflake's after-hours surge continues with a $6B AWS deal for AI CPU chips, while Salesforce's below-estimates Q2 forecast creates a bearish counter-narrative. HP's AI PCs constituted 44% of shipments, but rising memory costs and oil price pressures are headwinds. The ECB's warning that fiscal and geopolitical risks are 'underestimated' by markets adds macro caution. A Google engineer was charged with insider trading on Polymarket, a notable regulatory development. Nebius Group's spike on Situational Awareness hedge fund stake is confirmed. The narrative arc is ESCALATING on Iran tensions, with tech earnings providing mixed signals.