WS #12644

The dominant narrative remains the escalating US-Iran conflict, with new developments reinforcing the bullish case for energy stocks and bearish for consumer/transport sectors. Trump vowed retaliation against Iran for Houthi attacks in the Red Sea (NBC, cross-source with BBC), and US strikes on Iran continued for a 13th consecutive night, with oil surging. The EU adopted its biggest Russia sanctions package in four years, targeting crypto networks and 94 banks, which tightens global energy supply further. Separately, AMD's AI forecast grew to $1.4 trillion by 2030, nearly tripling in a year, a massive signal for AI infrastructure demand benefiting NVDA and AMD. Intel's foundry posted a $2.1B operating loss, a high-risk drag on profitability. The narrative arc is ESCALATING on the Iran front, with no counter-signals. Key earnings beats include Lamb Weston (LW) and First Hawaiian (FHB), while Liberty Global (LBTYA) missed estimates. The White House drew a new AI line on China, adding geopolitical risk to tech supply chains.