Iran escalation dominates Sunday as technology and macro risks build

U.S. markets were closed for the weekend, leaving QQQ and SPY unchanged from Friday's close. Iran-related reports included an oil-tanker attack, U.S. military casualties, attacks on Gulf military bases, and a rare two-day suspension of UAE stock trading. A warning that strikes could continue for four to five weeks kept the duration of the conflict in focus. Technology risks also surfaced as an AWS facility in the UAE suffered a fire and power outage, while OpenAI signaled willingness to take classified Pentagon work. Germany's January retail sales fell 0.9% from the prior month against a flat estimate.