WS #8930

The dominant signal in this window is a sharp escalation in US-Iran military conflict, with Iran claiming to have struck a US destroyer's command center in the Gulf of Oman. This is corroborated by multiple sources (Reuters, state media, social media) and represents a significant escalation from prior tensions. The attack directly threatens the Strait of Hormuz, which is already under US blockade, and comes as US oil inventories hit their lowest since 2004. Oil prices are rising for a third day, and the FT reports critically low inventory thresholds. This development counters any prevailing peace-deal thesis and suggests sustained energy price pressure. Separately, the House is moving toward a new vote to limit Trump's Iran war powers, indicating domestic political pushback. In tech, Broadcom's AI revenue doubled with a $73B backlog, and Nvidia's massive dividend hike signals strong cash flow, though NVDA options show a large neutral position. Rivian's 10-day winning streak and upcoming R2 deliveries are notable. The broader market is under pressure with DJIA down ~500pts, led by GS, MSFT, IBM, and SPY sliding after failing to hold hourly support. Crypto is melting down with Bitcoin falling to $65k. The Iran attack is the highest-significance development, with second-order effects on energy (bullish XOM, CVX, XLE), airlines (bearish DAL, UAL), and defense (bullish LMT, NOC).