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The Project Freedom was likely an initial attempt to open the Strait of Hormuz by force, and it failed. The Strait of Hormuz remains closed, with no end in sight, which increases the probability of an inflationary recession with each passing day.

Saks Global Enterprises LLC may soon emerge from bankruptcy with less debt, fresh capital and a much smaller store base.

US futures point to a strong open, extending a global rally driven by hopes of a breakthrough in the Middle East, with further fuel from strong results from AMD and Super Micro Computer overnight. The Dow Jones has been called more than 500 points higher, with futures up 1%, while futures for the S&P 500 are up 0.9%.

Stocks have been rallying lately, with the S&P 500 Index (SPX) gaining over 10% over the course of a month for the first time in about a year (not using calendar months, but rather any 21-trading day period).

Payment technology company Global Payments reported a rise in first-quarter adjusted profit on Wednesday, helped by resilient consumer spending despite geopolitical tensions in the Middle East and a volatile economic backdrop.

Iran's Islamic Revolutionary Guard Corps navy has announced the strait of Hormuz could reopen following the end of ‘threats from aggressors'

Wells Fargo strategists say some factors that have been driving the market higher are played out.

Oil prices slumped and global stocks surged after reports that the U.S. and Iran were nearing a one-page memorandum to end the war in the Gulf. That news came shortly after U.S. President Donald Trump said he would pause his operation to reopen Gulf shipping, just days after so-called ‘Project Freedom' began.

Torgrim Reitan, CFO of Norwegian energy giant Equinor, joins Europe Early Edition to discuss Q1 earnings, with profit rising more-than-expected amid tailwinds from higher output and oil prices.

U.S. stocks are outpacing their global rivals, with tech leading the charge. But worries about the war in Iran still linger.

Plus, a new trillion dollar baby.

The release of transcripts of Federal Reserve rate-setting meetings, a cornerstone of its transparency for more than 30 years, undermines the debate needed to set good monetary policy, incoming U.S. central bank chief Kevin Warsh says in an upcoming book, remarks that echo his wider desire to overhaul the Fed.

Stocks and bonds rallied on Wednesday while the US dollar weakened after a report suggested the United States and Iran were moving closer to an agreement aimed at ending the war, triggering a sharp decline in oil prices. According to a report by Axios, the US and Iran are nearing a one-page memorandum that could potentially end the conflict.

US stock index futures climbed on Wednesday morning as a standout earnings beat from Advanced Micro Devices drove a 15% surge in after-hours trading, adding further momentum to a market that closed at record highs the previous session. A sharp retreat in oil prices provided another tailwind, with Brent crude dropping toward 96 dollars a barrel in pre-market hours as Defence Secretary Pete Hegseth insisted the US-Iran ceasefire remained intact, even as skirmishes in the Strait of Hormuz continued.

The 2026 U.S. merchandise trade deficit fell to its lowest level since the first quarter of 2020, as exports increased 15.37% and imports fell 13.89%, according to my analysis of Census Bureau data released yesterday. Overall U.S. trade is down also, off 3.50%, not unsual when the deficit declines.

Stocks and bonds jumped and the U.S. dollar dipped on Wednesday, after a report from Axios stated the U.S. and Iran are closing in on one-page memo to end the war, which sent the oil price tumbling.

Crude prices sink after Axios reports that the U.S. and Iran are closing in on a one-page memo to end the war.

NATO countries need to hit the alliance's target of spending 5% of gross domestic product (GDP) on defence five years ahead of schedule in 2030, Poland's defence minister said on Wednesday, as he warned of the risks of being too late in rearming.

Global stocks rise, oil slips further after U.S. pauses effort to guide ships through Hormuz

It said it will take time for price changes to have an impact, but that it was assessing the situation and is taking measures, where necessary, to safeguard earnings.