WS #8846

The data window is dominated by the ongoing Iran war and its economic fallout, with multiple sources confirming persistent inflation, consumer pessimism, and geopolitical uncertainty. Key developments include Trump rejecting Iran's counteroffer, prolonging the conflict and keeping oil prices elevated. U.S. inflation data (CPI 3.8%, PPI 6%) hit multiyear highs, and consumer sentiment fell to a record low. The Fed is now expected to potentially hike rates, with Kevin Warsh set to be sworn in as chair. In corporate news, Nvidia announced a major push into PC processors with the RTX Spark chip, partnering with Microsoft, Dell, HP, and others, which drove its stock up 4%. Anthropic confidentially filed for an IPO, and Strategy sold a small amount of bitcoin for the first time since 2022, pressuring crypto markets. The S&P 500 hit records but with narrow breadth, echoing dot-com bubble concerns. EV sales hit records in 37 countries as high gas prices boost demand. China's property market showed modest recovery signs. Overall, the macro narrative is one of stagflationary pressures from the Iran war, with tech/AI stocks diverging sharply from the broader economy.