WS #12945

Geopolitical risk in the Middle East escalated sharply in the final minutes of this window, with multiple sources reporting that Iran has fired missiles toward U.S. bases in Jordan, breaking an unofficial ceasefire. This follows earlier reports of Iran threatening to keep the Strait of Hormuz closed unless Oman expands Tehran's control over shipping routes, and Houthis claiming a strike on another Saudi oil tanker. The missile attack represents a significant escalation and is corroborated by at least two independent sources, making it high-signal. Polymarket contracts continue to trade heavily on Iran ceasefire and Strait of Hormuz outcomes, confirming market focus. The narrative is clearly ESCALATING, with no counter-signals detected. On the earnings front, several notable beats: Ford (F) beat with EPS $0.42 vs $0.35 est, stock +5.5% after hours. Teradyne (TER) reported a strong beat and raised guidance, stock +14% after hours. Bloom Energy (BE) surged after earnings more than doubled expectations and raised full-year guidance, stock +9.7% after hours. NOV (NOV) beat estimates with EPS $0.31 vs $0.16 est, revenue beat, and Q3 guidance in line. Enphase Energy (ENPH) EPS in line, revenue beat. These earnings results provide positive signals for their respective sectors. A significant policy development: The Trump administration is set to ban imports of new Chinese humanoid robots, quadruped robots, and connected power inverters, citing national security risks. This could impact robotics and tech supply chains. Additionally, the Trump administration is ending $3.6 billion in prescription-drug subsidies, raising Medicare costs for seniors, which may pressure healthcare stocks. The Fed holds rates steady at 3.50-3.75% but signals a greater likelihood of a rate hike before year-end, a hawkish tilt that could pressure growth stocks.