Geopolitics dictated market tone last week as Hormuz-linked oil volatility, a hawkish Fed tilt, and rising yields tested investor nerves. Yet US equities ground out gains, powered by Meta’s blockbuster rally and SK Hynix’s record-breaking IPO. Focus now shifts to a pivotal week ahead with CPI data, Fed Chair Warsh’s testimony, and Q2 earnings season kicking off. And, of course, the renewed escalation in hostilities between US and Iran.