WS #8815

The dominant narrative in this window is a major geopolitical escalation: Iran launched a ballistic missile attack on Kuwait targeting US forces, with Kuwaiti air defenses actively engaging Iranian missiles and drones. This is corroborated by multiple sources (BSky posts, CENTCOM confirmation) and represents a significant escalation in the Middle East conflict. Separately, President Trump appointed Bill Pulte as acting Director of National Intelligence, a move covered by multiple outlets (Guardian, Axios, NBC, BSky). On the corporate front, Alphabet ($GOOGL) is reportedly planning an $80B equity raise to fund AI buildout, with Berkshire Hathaway buying $10B of stock. SpaceX's flotation is set to include a UK retail offering with up to $2B in shares sold via intermediary platforms. Bitcoin continues to weaken, hitting a two-month low below $69,000 amid institutional outflow streak and fading onchain interest. The S&P 500 opened lower after five consecutive record-high closes, with US stock futures pulling back as traders evaluate Middle East developments. Aluminum climbed to new four-year highs with analysts saying the rally is far from over. Victoria's Secret crushed Q1 expectations and raised FY26 outlook above street view. The Iran-Kuwait missile attack is the highest-significance development, likely to drive risk-off sentiment, spike oil prices, and boost defense stocks while hurting airlines and consumer discretionary. The Alphabet equity raise is a major signal for AI infrastructure spending and could pressure GOOGL near-term due to dilution but signals long-term AI commitment.