WS #7142

The dominant macro narrative remains the Middle East escalation and oil supply disruption, which is ESCALATING. Multiple sources corroborate that Saudi Arabia carried out retaliatory strikes against Iran, and a separate report indicates Iran has halted crude exports for 28 days amid a US naval blockade. Trump claimed via social media that Iranian military capabilities have been 'completely destroyed,' and a 4.6 magnitude earthquake struck Tehran. These developments are consistent with an escalating crisis, with no counter-signals or de-escalation in this window. Separately, bond bears are reloading Fed rate hike wagers on stubborn inflation, and Trump stated US inflation is 'short term.' In company news, Meta is testing a Threads feature that prevents users from blocking its AI account, generating negative sentiment. Boeing may announce a big China order, which could reignite its China business. Several after-hours movers include CGTL +35%, FCHL +25%, and ADTX +18%.