WS #12599

The US-Iran conflict continues to escalate (ESCALATING) with the 11th consecutive night of US airstrikes on Iran, including a strike on Iran's Bidboland Gas Refinery, and Iran retaliating with attacks on US assets in Jordan, Bahrain, and Kuwait. The Guardian reports a third US service member killed in the Jordan attack, raising the death toll to 18 since the war began. Hegseth testified before the Senate requesting $88 billion in supplemental funding, estimating the war has cost $37.5 billion. A key counter-signal emerged: Trump approved a landmark 30-year nuclear deal with Saudi Arabia allowing uranium enrichment, confirmed by multiple sources (WSJ, AP, Al Jazeera). This could reshape Middle East alliances and energy markets. Separately, Trump announced a phased tariff on generic drugs starting in 2028, escalating trade tensions. On the positive side, Wall Street closed higher (S&P 500 +0.89%, Nasdaq +1.29%) led by AI/semiconductor stocks, and Bitcoin reclaimed $66K. The dominant theme remains the US-Iran conflict, but the Saudi nuclear deal and generic drug tariffs are new high-significance developments.