War On Iran – Oil Prices Lag Supply Deficit – Arab’s Won’t Fight Iran – Khamenei Son Succeeds Father

Lilly Slides After New Obesity Pill Prescription Data Disappoints Wall Street Shares of Eli Lilly & Co. fell in New York premarket trading after new industry prescription data for the drugmaker's blockbuster obesity shot Zepbound and recently approved oral weight-loss pill Foundayo disappointed Wall Street analysts. Foundayo generated 3,707 prescriptions in its second week, according to new prescription-tracking data from IQVIA cited by RBC Capital Markets analysts. That compares with 18,410 prescriptions for Novo's oral version of Wegovy during its second week after launch, suggesting Lilly's weight-loss drugs are falling behind...

Iran Decries US 'Ceasefire Violation' After Overnight Port Raid, Insists On $12BN Fund Release To Advance Talks Summary IRGC says its military shot down an MQ-9 drone and forced an F-35 jet out of Iranian airspace. Tehran formally accuses Washington of "ceasefire violation" while warning a final deal is not yet imminent, while Pentagon cites "self-defense" strikes in Hormuz overnight. Ayatollah Hajj message: US will "no longer have a safe haven for mischief & the establishment of military bases in the region." Teran is demanding "12 billion released now and 12 billion after MOU...

US PMIs Lead The World As Manufacturing Tops 4-Year Highs, Services Sink Following Japan's ugly PMIs (Services lowest since March 2025) and Europe's disaster (weakest composite EU PMI since late 2023)... ...with prices surging... All eyes are on the US 'soft' survey data for signs of divergence (or contagion). With US 'hard' data improving notably, the preliminary soft survey data for May was mixed with improved performance in manufacturing was countered by a sluggish service sector. Flash US Services PMI Business Activity Index: 50.9 (April: 51.0). 2-month low. Flash US Manufacturing PMI: 55.3 (April:...