EU Parliament Pushes Funding Cuts To Orbán-Founded Patriots Group As Witch-Hunt Continues

Exit Narrative Grows: Bessent Says New Deal & Ceasefire Will Open Hormuz 'Today Or Tomorrow' Summary Bessent: Hormuz could reopen under a 30-60 day ceasefire as soon as "today or tomorrow." Iran asserts that US & Israeli vessels remain barred until sanctions are lifted and compensation is paid. Trump says the conflict could "end pretty soon," signaling a possible final US exit. Iran remains defiant, pointing out it still has the leverage & can threaten Hormuz. However, the deal could reopen oil flows while strengthening Iran's control over the strait. Strait of Hormuz traffic returns to normal...

Futures Flat As Traders Brace For Weekend Iran Escalation US equity futures are flat on the final trading session of the week, with Tech lagging, as traders hold off on big bets ahead of the weekend, with the fragile truce in the Middle East keeping geopolitical risk front of mind. Overnight, the US said Iran talks will continue, a positive step amid the recent escalation near the Strait of Hormuz (then again the market never reacted negatively to the latest strikes in the first place). As of 7:45am ET, S&P futures are...

Wildfire And Drought Risks Spike As California Enters Dry Season With Just 18% Snowpack California is entering its dry season with far less snow than usual, heightening drought concerns across the state, according to Bloomberg. Snowpack stands at just 18% of normal statewide, according to the Department of Water Resources. Conditions are especially severe in the Sierra Nevada: the northern region has only 6% of typical levels, while the central and southern areas are at 21% and 32%, respectively. The shortfall matters because California depends on winter snow — not year-round rainfall...