WS #8717

The US-Iran conflict continues to escalate with new attacks and a stalled Lebanon ceasefire, while the US proposes a 'roadmap' for de-escalation in Lebanon. The EU is considering a freeze on the Russia oil price cap due to the Iran war, which could tighten global oil supply. Shipping costs are surging due to the Hormuz fuel crisis, with the Shanghai Containerised Freight Index nearly doubling since February. Berkshire Hathaway announced a $8.5B acquisition of Taylor Morrison Home Corp (TMHC) at a 24% premium, signaling a major deployment of its cash pile into housing. SoftBank dethroned Toyota as Japan's most valuable company, driven by AI demand. Li Auto delivered 33,350 vehicles in May, with cumulative deliveries reaching 1.7 million. The ECB warns stablecoins could cement dollar dominance, while the digital euro is proposed as a counter. France's manufacturing PMI dropped sharply to 49.70, indicating contraction. UK manufacturing PMI rose to 53.90. Goldman Sachs reports hedge funds buying stocks at the fastest pace in 6 months. The US-Iran conflict is ESCALATING (new attacks, stalled Lebanon ceasefire, shipping cost surge), while the AI/tech narrative is STABLE with SoftBank's milestone and NVIDIA's continued product announcements.