Iran Seizes Two Ships in Hormuz Despite Ceasefire Extension
The IRGC Navy grabbed the MSC Francesca and the Epaminondas, claiming both were "secretly exiting" the strait. Ceasefire on paper, escalation on the water. Exactly the kind of chaotic oil price action our macro read has been flagging.

Brent Crude Breaks $100 for the First Time
Brent settled at $101.73, up 3.30% on the day. With Hormuz still functionally closed and 13 million barrels offline, the $100 barrier was a matter of when, not if. MCO's thesis has oil in a choppy B-wave rally toward $135+, and this fits.

S&P 500 and Nasdaq Close at Fresh All-Time Records
The S&P added 1.05% to finish at 7,137.90, Nasdaq gained 1.64% to 24,657.57. Both record closes. Our analysis still sees this as a corrective phase with counter-trend rallies only. These highs don't change the structural picture.

Trump Says "No Time Frame" on Iran, Talks Possible in 36-72 Hours
Trump denied midterm elections are driving his decisions and said a new round of talks could happen "as soon as Friday." The ceasefire extension is open-ended but the blockade stays. Markets like the ambiguity for now.

SpaceX Secures $60 Billion Option to Acquire Cursor
Elon Musk's SpaceX landed a deal giving it the right to buy AI coding startup Cursor for $60 billion by year-end, or pay $10B for the partnership. The AI coding space is getting its own arms race and the valuations reflect it.

Google Unveils TPU 8t and 8i at Cloud Next, Signs Thinking Machines Lab Deal
Google dropped two new custom AI chips and deepened its partnership with Mira Murati's Thinking Machines Lab in a multibillion-dollar infrastructure deal powered by Nvidia's GB300s. The compute buildout keeps accelerating.

Tesla Beats on Earnings, Misses on Revenue, Hikes Capex to $25 Billion
41 cents adjusted EPS vs. 37 expected. Revenue came in at $22.39 billion, slightly below estimates. The real number: capex guidance jumped from $20B to $25B for the year. Musk is spending on AI, not cars. Shares rose 4% after hours then gave it all back.

Bitcoin Breaks $78,000, Highest Since February
BTC touched $78,452 intraday, riding the ceasefire extension and broader risk-on move. ETH steady around $2,327. What our charts have been signaling still holds: this looks like a B-wave bounce inside a larger correction. Enjoy it, but don't confuse it with a new bull leg.

KelpDAO Hack Traced to North Korea's Lazarus Group
LayerZero confirmed the $290 million KelpDAO exploit was carried out by TraderTraitor, a Lazarus subgroup, using RPC-poisoning. Largest DeFi loss of 2026 so far. Another reminder that DeFi security hasn't kept pace with DeFi ambition.

Takeaway: Records on Wall Street, $100 oil, and a ceasefire that exists in name only. The market is pricing in hope while the fundamentals keep getting more complicated.