WS #12603

The dominant narrative remains the US-Iran conflict and its escalation, with multiple sources corroborating a significant intensification. US Defense Secretary Hegseth testified that the war has cost $37.5 billion so far, and Trump has threatened strikes on Iran's nuclear facility, with B-1 bombers departing the UK. Houthi threats have caused oil tankers to turn back in the Red Sea, pushing Brent crude above $92/barrel. This is an escalation of the previous situation. Separately, Wistron shares surged 9.7% on opening a Texas AI superchip plant for Nvidia, a bullish signal for AI infrastructure. Japan's 40-year bond auction saw strongest demand since March 2025, indicating continued safe-haven demand. The US Energy Department reiterated SPR can operate safely at 70 million barrels, confirming limited strategic reserve capacity. Ukraine drones attacked another Wildberries warehouse in Krasnodar, escalating the Russia-Ukraine conflict's impact on Russian infrastructure. France passed a law banning social media for under-15s, which may impact social media stocks. The S&P 500 recaptured its 50-day moving average, a technical bullish signal. Salesforce was downgraded by multiple banks on AI doubts, a bearish signal for CRM. Nvidia is shipping first Vera server CPUs to OpenAI, challenging Intel and AMD in the server market.