WS #5744

The primary market-moving signal in this window is the escalation of Iran-US tensions in the Strait of Hormuz, with multiple sources reporting that oil prices have surged past $100/barrel (Brent $103.18, WTI $94.17) and that Trump has instructed to 'shoot and kill' any boat putting mines in the Strait. This is corroborated by reports that Iran has listed US/allied targets for retaliation including oil infrastructure (aiming for a 25M bpd cut), and that Sweden is preparing for fuel rationing if the war continues. The situation is escalating, with no counter-signals or de-escalation in this window. Separately, Google announced new Tensor chips targeting Nvidia's AI dominance, which could pressure NVDA. Tesla revoked Musk's $29B interim pay package after the Delaware Supreme Court restored his larger $56B award, a positive for TSLA governance. Amazon plans to invest up to $25B in AI startup Anthropic, signaling continued AI infrastructure spending. Southwest Airlines stock fell after a double miss and weak guidance. Eurozone PMI data showed unexpected contraction to 48.6, driven by geopolitical tensions, which is bearish for European equities and could spill over to US markets.