WS #10801

The dominant signal in this window is the confirmed US military strikes on Iran in retaliation for an Iranian drone attack on a commercial vessel in the Strait of Hormuz, which Trump stated violated the ceasefire. Multiple independent sources (NBC, BBC, Axios, ABC, CBS, CNBC, Fox News, and numerous Bluesky accounts) report that US forces struck Iranian missile/drone storage sites and coastal radar positions. Fox News describes the strikes as 'ongoing'. This represents a significant escalation from the previous ceasefire narrative and directly threatens oil shipping through the Strait of Hormuz, with immediate implications for oil prices, energy stocks, and broader risk sentiment. Counter-signals include the US military stating forces remain present to ensure safe passage, suggesting a calibrated response rather than all-out war. Separately, risk-off signals persist in tech: NVDA closed -1.6%, QQQ -1.4%, Oracle had its worst week since 2001. However, AAPL closed +3.1% and TSLA +1.2%, showing divergence within MAG7. Memory stocks (MU, SNDK) are being discussed as beneficiaries of an AI infrastructure supercycle, with Samsung reportedly preparing ~$650B investment. The Strait of Hormuz escalation is the highest-significance development, with direct implications for oil prices, energy stocks, and broader risk sentiment.