WS #14124

The Strait of Hormuz crisis remains the dominant market narrative, with multiple corroborating signals confirming continued escalation. The third ADNOC tanker attack in a week is confirmed by UAE state media (WAM) and multiple international outlets, reinforcing the bearish oil supply thesis. Iran's parliament has approved a bill institutionalizing control of the strait, banning transit of US/Israeli equipment, and JPMorgan analysts note this control could become the global model for energy chokepoints. However, a counter-signal has emerged: a senior White House official claims Trump was 'joking' about declaring Hormuz US territory, which could dampen escalation fears. Kpler data shows only 6-9 commodity vessels transited Hormuz on Aug 10-12 versus 130-140 pre-war, confirming severe supply disruption. Separately, Berkshire Hathaway's Q2 13F shows a massive $17B increase in its Alphabet stake (now third-largest holding), a strong bullish signal for GOOGL. The US government is pressuring Apple to avoid Chinese memory chips (CXMT), which could force Apple to rely more on Micron, a bullish signal for MU. Anthropic has filed for IPO with no valuation discussed, but reports suggest a potential $2T target, which could be a major catalyst for AI sentiment.