WS #8398

The US-Iran military confrontation continues to ESCALATE with a significant new dimension: Kuwait is now under direct attack. Multiple sources (Reuters, Kuwaiti state news, social media) report air raid sirens, missile and drone threats, and active air defense engagements across Kuwait. This marks a geographic expansion of the conflict beyond Iran's borders, raising the risk of a broader regional war. Separately, Trump has reportedly threatened to attack Oman, per Middle East Eye, adding another layer of geopolitical risk. The Strait of Hormuz remains a flashpoint, with Polymarket contracts showing elevated probability of disruption. Oil prices are likely to spike further on this news, reinforcing the stagflation narrative. In corporate news, Dell (DELL) is surging after-hours to ~$320 following Trump's earlier endorsement, a notable MAG7-adjacent signal. Braze (BRZE) raised FY2027 revenue guidance, a positive for the software sector. The Chinese coal disaster reported by Bloomberg could ripple through steel, power, and chemicals markets. The dominant theme is ESCALATING US-Iran conflict with geographic spread to Kuwait, amplifying oil and defense sector implications.