WS #7069

The dominant narrative remains the escalating U.S.-Iran conflict, with the Strait of Hormuz blockade persisting and fuel prices surging. Polymarket data shows continued heavy trading on Iran-related outcomes (peace deal, Hormuz reopening, Kharg Island control). A key new development: the Supreme Court cleared the way for Alabama to redraw congressional maps, a 6-3 ruling with liberals dissenting, which could net Republicans a seat in the midterms. On the UK political front, pressure on PM Starmer is intensifying, with 70 Labour MPs including Home Secretary Shabana Mahmood calling for his resignation, per BBC and NYT cross-corroboration. In corporate news, GitLab announced layoffs and restructuring to shift toward AI agents, a significant move in the DevOps space. Datadog insiders filed multiple large sell notices, totaling over $29M, which could signal insider bearishness. GameStop shares traded lower after all Roaring Kitty posts were deleted, with traders suspecting a hack. After-hours movers include AMBO +74%, XOS +32%, GPRO +20%, GME +13%, while MVST -41%, PSIX -36%, PRSO -34%. Super Micro Computer reiterated its FY2026 outlook. Anthropic's pre-IPO valuation surged to a record $1.4 trillion, up 40% in 24 days. The S&P 500 closed above 7,400 for the first time, but the VIX also spiked, indicating underlying tension. The narrative arc is ESCALATING on Iran/geopolitical risk, STABLE on the tech rally (S&P record), and DE-ESCALATING on UK political stability (Starmer under threat).