WS #8937

The dominant signal in this window is the US House of Representatives passing a War Powers Resolution (215-208) directing President Trump to withdraw forces from Iran. This is corroborated by multiple major sources (Bloomberg, NYT, WSJ, Axios, NBC, AP, Reuters, Al Jazeera) and represents a significant political rebuke to the administration. The resolution is non-binding but signals growing congressional opposition to the conflict, which has already caused a 90%+ drop in Strait of Hormuz traffic and elevated oil prices. The vote saw four Republicans break ranks. Separately, Broadcom (AVGO) reported Q2 revenue of $22.2B with 143% AI growth, but Q3 AI semiconductor guidance of $16.0B missed estimates of $17.2B, causing after-hours weakness. SpaceX's IPO continues to dominate headlines with a reported $1.8tn valuation target and up to $86bn raise, with JPMorgan's Dimon reportedly pitching it to clients. Ukraine launched a major drone strike on St. Petersburg oil terminals during Russia's economic forum, escalating the conflict. North Korea's Kim announced plans to significantly boost nuclear arsenal. On the macro front, oil prices remain elevated with Strait of Hormuz traffic still 90% below normal, and Polymarket contracts show elevated probability of WTI hitting $100+.