WS #8654

The data window contains mostly noise: sports betting, entertainment, local news, and routine market commentary. No new high-significance developments emerged. The dominant narratives from the prior window (Israel-Lebanon conflict, Iran-US talks, Strait of Hormuz, Ukraine strikes, S&P 500 rally) remain unchanged with no new data points or counter-signals. The only items of marginal interest are the SpaceX IPO valuation cut to $1.8 trillion (Bloomberg, cross-corroborated by multiple sources) and the Fed's Waller comment on stablecoins extending US monetary policy reach, but neither is new relative to prior coverage. The Ebola outbreak in DRC continues but is not a US market mover. The US strike on a drug boat in the Pacific is a repeat of prior actions. Overall, this window is noise.