WS #13463
No material new developments in the last 30 minutes. The dominant Strait of Hormuz reopening narrative remains stable with no new data points, and no counter-signals or non-dominant-narrative developments have emerged. The previous synthesis remains accurate and current.
Topics
Key developments
- US, Iran, Oman close to interim Hormuz deal; Iran to control inbound traffic
- SpaceX first earnings: revenue beat but capex shock sends stock down ~10-12%
- Disney Q3 beats EPS, streaming profitability doubles, buyback raised to $9B+
- Eli Lilly crosses $1 trillion market cap on GLP-1 momentum
- US Treasury removes Iran-related sanctions pages from website
- US services PMI mixed: ISM 54.1 miss, S&P Global 54.6 beat; ADP weak at 44K
- EIA crude inventories build 2.5M barrels vs expected draw
- CLARITY Act crypto bill unlikely to pass in 2026; Polymarket odds crash to 14%