WS #13498

The dominant theme is the Iran-Oman Hormuz shipping-route agreement, which is corroborated by multiple sources (BBC, Al Jazeera, Reuters via GDELT, and various Bluesky posts). Iran and Oman have agreed on the geographic coordinates for a new shipping route through the Strait of Hormuz, with a joint statement in final stages. This is a de-escalation signal that counters the prevailing bearish oil-supply narrative, likely pressuring crude prices and benefiting importers while dampening energy-sector gains. However, Iran warns that security is still impacted by the US blockade, and the deal gives Tehran control over ships entering the Gulf, so the resolution is partial and fragile. Gold has smashed through $4,200/oz, reflecting continued safe-haven demand amid geopolitical uncertainty. In earnings, several notable moves: Duolingo shares crashed ~12% despite beating earnings due to soft Q3 guidance; HubSpot plunged over 20% on weak full-year guidance; Zillow slid on soft outlook; Sunrun plunged; while SoundHound AI gained 13% on record revenue, and IONQ raised guidance. SpaceX's first post-IPO earnings showed revenue growth but losses, and its stock is drifting down, weighing on the Nasdaq. Celestica announced a $3B equity offering, sending shares lower. Manulife reported a $3.2B LTC reinsurance deal with Munich Re, reducing risk. The Fed narrative remains hawkish, but Bessent urged the Fed to expand an obscure facility, and BofA sees yen gaining 6% by end-2026. Overall, the market is bifurcated: Dow and S&P at records on Hormuz hopes, Nasdaq lower on tech earnings disappointments.