WS #7507

The dominant macro narrative remains the US-Iran escalation and Strait of Hormuz blockade, which is ESCALATING. Oil prices continue to spike (WTI +4.20%, Brent +3.35%), and the global inventory race intensifies. A new development: China has blocked advanced AI chip deliveries, per a Yahoo Finance report corroborated by a Bluesky post tagging $BABA and $NVDA. This is a high-significance signal for NVDA (bearish) and BABA (bearish). Separately, Amazon is being sued by consumers seeking refunds for tariffs later ruled unlawful, which could pressure AMZN. The Berkshire Hathaway Q1 13F (carried forward from prior window) remains a high-significance positive: GOOGL stake increased 204% to $15.6B, new $2.6B DAL stake, exited AMZN, V, MA entirely. This provides a strong bullish signal for GOOGL and DAL, and a bearish signal for AMZN. The Eurovision final is ongoing but not market-moving. Overall, energy (XOM, CVX, XLE) bullish, airlines (DAL, UAL, AAL) bearish, defense (LMT, RTX) likely to benefit. The China AI chip block adds a new bearish layer for NVDA and BABA.