WS #6800

The dominant theme in this window is the escalation of US-Iran tensions, with multiple sources reporting that Iran's Tasnim news agency says the Strait of Hormuz plan will become permanent law, and the US military launched airstrikes targeting oil tankers attempting to break the blockade. This represents an escalation from the prior narrative, which had no new developments. Additionally, Ukraine struck a Russian oil refinery in Perm for the third time in two weeks, adding to supply-side risks. On the tech side, an AWS data center outage due to a thermal issue in Virginia is disrupting trading on Coinbase and FanDuel, with recovery expected to take hours. This is a significant operational event for Coinbase and Amazon. Meanwhile, Datadog reported strong Q1 earnings, beating expectations and raising guidance, with AI customers driving revenue acceleration, sending the stock higher. Block also reported upbeat Q1 earnings and raised FY26 adjusted EPS guidance by 62%, with the stock up 6.7%. Tesla is recalling all 173 RWD Cybertrucks due to faulty brake rotors that could cause wheels to fall off, marking the 11th Cybertruck recall. Apple received an analyst price target raise to $400 from Wedbush on AI growth potential. The Virginia Supreme Court struck down new congressional maps, a political development with potential implications for market sentiment but limited direct market impact. Overall, the geopolitical risk narrative is escalating, while tech earnings provide a countervailing positive force.