WS #12473

The US-Iran conflict continues to escalate sharply, with multiple reports of Iranian strikes on US positions and a Saudi commercial vessel struck in the Strait of Hormuz. IRGC Navy claims simultaneous strikes on US military installations across the Gulf, including Al-Sakhir Airbase in Bahrain and Camp Arifjan in Kuwait. The US launched its ninth consecutive strike on Iran, pushing Brent above $90. This marks a significant escalation from the previous narrative. Separately, Alphabet (GOOGL) shares popped 3% on reports of a new efficient AI chip 'Frozen v2', a bullish signal ahead of earnings. Hut 8 (HUT) and IREN surged on massive AI data-center leases, lifting the compute sector. The US leading index slipped more than expected (-0.2% vs -0.1% est.), a mild negative for the macro outlook. The India 'Cockroach' protests and UK political transition (Burnham as PM) are notable but have limited direct US market impact.