WS #8389

The dominant signal in this window is a significant escalation in US-Iran military conflict. Multiple sources (Reuters, CNN, OSINT accounts) report new US strikes on an Iranian military site in Bandar Abbas, interception of Iranian drones, and a US defense operation in the Strait of Hormuz. This contradicts any hopes of a near-term ceasefire or deal, as the White House has dismissed an 'unofficial' Iran deal outline. The escalation is corroborated by Polymarket bets on Strait of Hormuz blockade and Iran ceasefire failure. Oil prices are already elevated (WTI ~$89.5, Brent ~$94.3) and the conflict extension supports further upside for energy stocks while pressuring airlines and consumer sectors. Separately, Snowflake (SNOW) reported a record product-revenue beat driven by AI acceleration, sending its stock soaring. Salesforce (CRM) beat earnings but shares dipped 1% after-hours as the market remains skeptical on AI monetization. Meta (META) CEO Zuckerberg said cloud computing is 'on the table,' a potential long-term positive but near-term noise. The US-Iran escalation is the primary market-moving development.