WS #8791

The dominant signal in this window is the escalating US-Iran crisis, with Iran halting talks and Trump making conflicting statements on a Lebanon ceasefire, while oil prices remain elevated near $92. This is corroborated by multiple sources (Al Jazeera, Benzinga, Bluesky posts). The US-Iran narrative is ESCALATING, with Iran halting talks and Trump's Lebanon ceasefire attempt appearing fragile. Separately, Trump signed a proclamation amending tariffs on steel, aluminum, and copper, and reduced tariffs on agricultural equipment to 15%. These trade policy moves are notable but lack specific market-moving details. The Russia-Ukraine conflict continues with a new Russian missile strike on Kyiv (4 dead, dozens injured), but this is an escalation of an ongoing narrative. The Andrew Left guilty verdict is confirmed but already priced in. The Anthropic IPO narrative carries forward. The Alphabet capital raise from the previous window is not refuted and carries forward as ongoing.