WS #9479

The dominant signal in this window is a sharp escalation in US-Iran military tensions. President Trump stated the US will 'hit Iran hard today' and 'may keep going' with strikes, explicitly threatening civilian infrastructure. This is corroborated across multiple sources (Al Jazeera, Axios, AP, CNBC, Reuters, and social media). WTI crude spiked +3% to $91 on the news. Oil and gas shares are trading higher, while airline and cruise stocks are lower due to rising oil prices. The UN nuclear watchdog censured Iran over its near-bomb-grade uranium stockpile, adding to the geopolitical risk. Separately, Trump said he is 'not looking to renew' the USMCA trade deal, adding trade uncertainty. On the SpaceX IPO front, Sen. Warren called on the SEC to delay the offering, and brokers are warning retail investors against quick flips, but the IPO remains on track for Friday. The US-Iran conflict is clearly ESCALATING, with no counter-signals or de-escalation in this window.