Monday and Tuesday both ran on the same Hormuz story Sunday flagged as unconfirmed, and it ended up moving markets more than anything on the calendar. Monday’s blowout ISM manufacturing print sent equities toward fresh records, and Tuesday a draft Qatari proposal plus optimistic comments from Secretary of State Rubio and Treasury Secretary Bessent knocked oil into a second straight sharp slide, even as an overnight missile strike on a cargo vessel near Oman showed the standoff has not actually eased. The S&P set a record for a second straight session, gold held inside Sunday’s range, and Tuesday’s JOLTS report gave a genuinely mixed signal. This update re-anchors Sunday’s six lanes to two sessions of trading.