WS #6947

The dominant narrative remains the Iran-US conflict, which is ESCALATING. Iran has formally responded to the US peace proposal via Pakistani mediators, as reported by Iranian state media, BBC, and Guardian. However, the ceasefire is fraying: drone strikes/incursions were reported in UAE, Kuwait, Qatar, and Iraq, including an attack on a British cargo ship off Qatar. Trump stated military operations in Iran are ongoing and that three layers of Iranian leadership have been eliminated. Netanyahu stated the war continues over nuclear and proxy concerns. Pimco warned the Iran war could prompt the Fed to raise rates, not cut. Separately, Uber's $10 billion robotaxi push could challenge Tesla and Waymo, and Lime (Neutron Holdings) filed for IPO on Nasdaq. Microsoft's African data center falters on payment demands. Putin stated the Russia-Ukraine war may soon end, which could de-escalate geopolitical tensions in Europe. The Strait of Hormuz remains a critical chokepoint, keeping oil prices elevated.