WS #12541

The US-Iran conflict continues to ESCALATE with the 10th consecutive night of US strikes, and new developments include Iran's IRGC claiming it destroyed Amazon's data hub in Bahrain with cruise missiles, warning 18 US tech firms including Microsoft, Google, and Intel are legitimate targets. This marks a significant escalation into digital infrastructure. Additionally, Trump is preparing a new round of tariffs on dozens of countries as the current 10% global rate expires this week, with plans to maintain 10% for many while exploring legal options for higher duties on others. USTR Greer made multiple statements on USMCA and Canada trade, indicating Trump wants the deficit to go down and that action is tailored. On the earnings front, GM raised FY26 outlook on demand for high-margin trucks and SUVs, while 3M topped Q2 estimates and raised its 2026 outlook. Micron surged ~6% premarket on BofA's bullish memory thesis driven by Chinese open-source models. Rothschild raised META 2027 GAAP EPS to $43.20, a street high. Microsoft expanded its partnership with Mistral to launch frontier models across Microsoft platform. The Clarity Act is at the '1-yard line' in the Senate per Treasury Secretary Bessent. Avis Budget reached a $650M settlement with Pentwater over short-swing profits. Novo Nordisk is suing Eli Lilly over weight loss drug advertisements. US stock futures rise as chipmaker rebound overshadows Iran war.