WS #7634

The dominant narrative remains the escalating Middle East geopolitical risk with oil above $100/bbl and Strait of Hormuz closed. In this window, the White House rejected Iran's revised peace offer, deeming it insufficient, and warned military action could resume if Tehran does not make major concessions on its nuclear program. This is an ESCALATION of the conflict, with no de-escalation signals. Separately, the US Treasury extended the lapsed sanctions waiver on Russian seaborne oil for another 30 days, a counter-signal that dampens the oil supply crisis narrative. On the corporate front, DA Davidson raised NVIDIA's price target to $300, maintaining a Buy, ahead of NVDA earnings. Cognizant increased its 2026 share buyback target to $2 billion, signaling confidence. MicroStrategy is mulling a Bitcoin sale to buy back $1.5B in debt, a shift in strategy. Ford is in talks to supply military trucks in Europe and North America, a potential catalyst for F. The CDC announced enhanced screening for travelers from Ebola-affected areas, a low-probability but high-impact risk.