WS #13537

The dominant theme is the US-Iran conflict and its impact on oil prices, with Brent up 3.1% in 24h and Strait of Hormuz tensions escalating. Iran and Oman agreed on new coordinates for ships to pass through the Strait of Hormuz, a de-escalation signal, but the US is reportedly running low on key munitions (ATACMS, PrSMs, Patriot/THAAD interceptors), with Trump vowing to hunt leakers. This is a high-significance geopolitical development with direct oil price implications. The SpaceX lockup expiry is a key event, with stock trading higher despite the lockup, and Musk's Terafab announcement ($16.8B chip factory in Texas with Tesla and SpaceX) is a major catalyst for TSLA and related names. Earnings season continues with notable movers: AppLovin (APP) tanked 17% on Q2 revenue miss, SanDisk (SNDK) and Western Digital (WDC) fell on guidance despite strong results, Insmed (INSM) surged 33% on narrowed loss and raised guidance, and Fox (FOXA) rose on World Cup ad boost. The FCC scrapped the 39% local TV station ownership cap, setting the stage for media consolidation. The US issued new Cuba-related sanctions targeting individuals in China and Russia, a geopolitical escalation. The ClarityAct was not on the Senate schedule, a negative for crypto. The dominant narrative is ESCALATING on the Iran conflict, with oil price risk and munitions depletion concerns, but the Iran-Oman deal is a counter-signal. The SpaceX lockup expiry is a high-significance event with stock trading higher, and the Terafab announcement is a major catalyst for TSLA. Earnings season continues with notable movers: AppLovin (APP) tanked 17% on Q2 revenue miss, SanDisk (SNDK) and Western Digital (WDC) fell on guidance despite strong results, Insmed (INSM) surged 33% on narrowed loss and raised guidance, and Fox (FOXA) rose on World Cup ad boost. The FCC scrapped the 39% local TV station ownership cap, setting the stage for media consolidation. The US issued new Cuba-related sanctions targeting individuals in China and Russia, a geopolitical escalation. The ClarityAct was not on the Senate schedule, a negative for crypto.