WS #12640

The US-Iran conflict continues to escalate, with the US planning heavy bomber strikes against Iran in the coming days, as reported by Kan and corroborated by multiple sources. This marks a significant escalation, with Brent crude oil briefly spiking above $95 and currently trading near $93.87, up over 3% on the day. Gold is rallying to $4,152.50, up 1.87%, while silver gains 2.03% to $60.31. The Dow remains surprisingly resilient despite the oil shock, but the Nasdaq is slipping ahead of key earnings from Alphabet, Tesla, and IBM. On the corporate front, Super Micro Computer (SMCI) surged 26% on a record backlog and margin surprise, lifting AI server names like Dell (DELL). The Senate updated the Clarity Act to ban presidents and federal officials from issuing/sponsoring crypto, a negative for crypto sentiment. Tesla faces headwinds as NHTSA demands internal documents on FSD crashes, and a report shows Tesla Autopilot/FSD crashes hit a record 207 in a single month. The SEC and Coinbase settled a multi-year legal dispute over records requests. Apple is partnering with Klarna to launch a lease-to-own program for devices, which could boost Apple sales. The FCC voted to bar sales of devices containing components from Chinese companies posing national security risks, impacting tech supply chains. Trump threatened 100% tariffs on generic drugs by 2028, hitting Canadian generic drug maker Apotex (APTX) down 9%. The dominant narrative is the escalating US-Iran conflict, which is driving oil prices higher and creating a risk-off tone in equities, though the Dow is holding up. The MAG7 narrative is mixed: Tesla is facing regulatory and safety headwinds, while Apple's new lease program is a positive catalyst. The US-Iran conflict is ESCALATING, with the US planning heavy bomber strikes, which could further disrupt oil supplies and push Brent above $100.