WS #8906

The dominant theme is the escalating Iran-US conflict, with multiple cross-corroborated signals indicating ongoing military strikes, drone attacks, and diplomatic breakdown. Oil prices are rising sharply (WTI ~$95, Brent ~$97) as US crude inventories fall to multi-decade lows, while the Strait of Hormuz remains disrupted. A key counter-signal emerged: Iraq ordered oil companies to resume operations in Kurdistan, which could partially offset supply fears. Separately, SpaceX IPO details surfaced with a fixed $135 roadshow price at $1.75T valuation, a high-significance event for space/defense and tech. The Ukraine-Russia conflict escalated with drone strikes on a St. Petersburg oil terminal, adding to geopolitical risk. On the macro front, the US House is set to vote on Trump's war powers in Iran, and the Fed chair hired interim advisers, signaling potential policy shifts. Tech saw mixed signals: ASML became Europe's most valuable stock on AI boom, while GitLab cut 14% of staff and Palo Alto Networks dropped despite strong earnings. A MAG7 carve-out: Apple's bill-splitting feature threatens PayPal, a bearish signal for PYPL. The narrative arc is ESCALATING for Iran conflict, with oil and defense stocks likely to benefit while airlines and consumer stocks face headwinds.