WS #10787

The dominant narrative remains the Iran-Strait of Hormuz escalation and the Israel-Lebanon framework agreement, both of which were already covered in the previous synthesis. No new material developments have emerged to alter the existing assessment. The data dump is overwhelmingly noise: sports betting, crypto binary options, and spam. Key signals include: (1) Trump's warning to Iran over Hormuz drone attack, but oil prices barely reacted, indicating market skepticism; (2) Hezbollah's rejection of the Lebanon framework agreement, threatening civil war; (3) CDC raising Ebola response to Level 1; (4) OpenAI limiting GPT-5.6 rollout per US government request; (5) Europe's deadly heatwave breaking records; (6) EU pushing back against Trump's digital tax threats. The S&P 500 divergence (equal-weight outperforming cap-weight) suggests a rotation away from mega-cap tech. Healthcare stocks (AbbVie, Eli Lilly, JNJ) are hitting all-time highs as a haven from tech. FuelCell Energy surged 20.8% on Jefferies upgrade on data center power upside. Moderna shares rose on Piper Sandler price target hike. Ardelyx fell ~6% on Xphozah appeal loss. The Israel-Lebanon framework agreement is being undermined by Hezbollah's refusal to disarm, while the Iran situation remains tense but oil markets are not pricing in a supply disruption.