WS #12636
The dominant narrative remains the US-Iran conflict escalation, which is ESCALATING further. President Trump threatened to bomb Iranian bridges and power plants for each attack on ships in the Strait of Hormuz, and the Pentagon is seeking an additional $70B to sustain the war. This has driven oil prices higher (Brent near $95, WTI up >4%) and gold above $4,000. Meanwhile, several company-specific signals emerged: Reddit (RDDT) plummeted on reports it is cutting off Google's access for AI training; Palantir (PLTR) fell on UK NHS contract scrutiny; OpenAI's massive $750B spending plan and a new draft of the Clarity Act banning presidents from crypto were also notable. The macro backdrop remains bearish for equities due to geopolitical risk and rising oil, but energy stocks (XOM, CVX) and gold miners are bullish.
Topics
Key developments
- Trump threatens to bomb Iranian bridges and power plants for each attack on ships in Strait of Hormuz
- Pentagon seeks $70B more to sustain Iran war; 11th straight night of US strikes
- Reddit reportedly cutting off Google's access to content for AI training, losing $3.2B market cap
- OpenAI plans $750B infrastructure spending by 2030, including $20B Georgia data center
- New Clarity Act draft bans presidents and federal officials from issuing digital assets
- Palantir falls on UK NHS data contract scrutiny by statistics regulator
- Oil prices surge: Brent near $95, WTI up >4% on Iran escalation