Hormuz escalation, tighter rate pricing and AI hardware updates define the closed Sunday

U.S. markets were closed, so QQQ and SPY carried Friday's regular closes and neither led. A U.S. strike on Larak Island and visible commercial traffic falling to five vessels a day sharpened Hormuz risk. CME pricing favored a cumulative 25-basis-point increase by September, while U.S. debt reached $40 trillion. Barclays' cloud-margin analysis and Samsung's reported 8-layer HBM4E work for Nvidia added new AI-economics and hardware context.