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U.S. Crude Oil Hits Record Monthly Spread Over Iran War
Markets

U.S. Crude Oil Hits Record Monthly Spread Over Iran War

On Thursday, U.S. crude oil futures set a record spread between May and June contracts, with May jumping 11% to $111.54 per barrel. This followed President Trump's speech suggesting a prolonged Iran war, altering market hopes for a swift resolution. Brent crude spot prices hit $141.36, a multi-year high, driven by supply fears after Iran closed the Strait of Hormuz. Analysts cited significant short covering by traders who anticipated a ceasefire. The events highlight acute physical supply tightness in global oil markets. Price volatility underscores sensitivity to Iran war developments and supply risks.

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Warner, Schiff Demand Probe into Government Insider Trading
Politics

Warner, Schiff Demand Probe into Government Insider Trading

Sens. Mark Warner and Adam Schiff have requested an investigation from the SEC and DoD inspector general into potential insider trading by government officials. They cite reports of substantial stock and derivatives trades occurring before key policy announcements, such as the Iran military action and Trump's tariff policies. Specific instances include a broker linked to Defense Secretary Pete Hegseth buying into a defense fund ahead of the Iran strike. The senators argue these practices harm public trust and market integrity, urging immediate oversight. This follows broader concerns about prediction markets and financial gains from nonpublic information. The letter underscores the need for regulatory and congressional action to address alleged misconduct.

United Airlines Raises Checked Bag Fees by $10 as Fuel Prices Surge
Business

United Airlines Raises Checked Bag Fees by $10 as Fuel Prices Surge

United Airlines has raised its checked bag fees by $10, setting new rates at $45 for advance payment and $50 for last-minute payment on domestic and select international routes. The increase is driven by an 82% surge in jet fuel prices since late February, following geopolitical tensions. This follows a similar fee hike by JetBlue Airways earlier in the week. Exemptions remain for United credit card holders, elite frequent flyers, military members, and premium cabin passengers. The fuel cost escalation is also affecting other sectors, such as Amazon adding a surcharge for sellers. Airlines are under pressure to offset rising operational expenses amid volatile fuel markets.

Pam Bondi's Short AG Tenure: Epstein Files and Retribution Failures
Politics

Pam Bondi's Short AG Tenure: Epstein Files and Retribution Failures

Pam Bondi's tenure as U.S. Attorney General under Donald Trump lasted only months, ending in her firing in March 2026. She was tasked with handling the Epstein files and pursuing Trump's retribution campaign against political foes. Bondi mishandled the Epstein files by distributing empty binders and making unsubstantiated claims, leading to congressional subpoenas. Her department's retribution efforts resulted in weak indictments that collapsed in court, exposing the lack of evidence. These controversies damaged the Justice Department's independence and are viewed as the worst breach of its political neutrality since Watergate. Bondi's legacy underscores the challenges of navigating Trump's demands while maintaining legal integrity.

Blue Owl Funds Face Investor Exodus Amid Private Credit Fears
Markets

Blue Owl Funds Face Investor Exodus Amid Private Credit Fears

Blue Owl Capital is confronting massive investor withdrawals, capping redemptions and underscoring fears in the private credit sector. Its stock plummeted, with similar declines among peers like Apollo and Ares. Concerns stem from the industry's rapid, opaque growth and concentrated exposure to tech loans, exacerbated by AI disruption risks. Experts warn of systemic vulnerabilities that could spill over to banks and the economy. Despite management's claims of resilient credit fundamentals, market perception is driving the exodus. This highlights risks in the $1.8 trillion private credit market.

Trump's USPS Mail Ballot Order Unconstitutional, Lawsuits Allege
Politics

Trump's USPS Mail Ballot Order Unconstitutional, Lawsuits Allege

Three federal lawsuits have been filed challenging President Trump's executive order on USPS mail ballot eligibility. The lawsuits, led by Democrats and voter advocacy groups, allege the order is unconstitutional, violates federal laws like the Voting Rights Act and Privacy Act, and infringes on state authority. Key concerns include the creation of a flawed federal citizen database and disenfranchisement risks from strict pre-election deadlines. The White House defends the order as a legitimate measure to protect election integrity. Plaintiffs warn that existing federal databases are error-prone and could bar eligible voters. This case underscores ongoing legal disputes over federal versus state control of elections.

Brent Oil Spot Price Hits $141, Highest Since 2008 Crisis
Markets

Brent Oil Spot Price Hits $141, Highest Since 2008 Crisis

Brent crude oil spot prices soared to $141.36 per barrel on Thursday, the highest since 2008, triggered by Iran's closure of the Strait of Hormuz which strained physical supply. The spot price significantly outpaced June futures, indicating a disconnect where financial markets may understate immediate supply shortages. Experts, including Amrita Sen and Mike Wirth, warn that futures prices reflect limited information and misperception, failing to capture real-world constraints such as soaring European diesel costs. This disparity raises concerns about the reliability of global oil price benchmarks in accurately signaling market conditions. The event underscores the rapid impact of geopolitical actions on physical oil markets and the potential for delayed responses in futures trading.

Energy Markets Doubt Trump's Iran War Endgame as Oil Prices Climb
Politics

Energy Markets Doubt Trump's Iran War Endgame as Oil Prices Climb

President Trump's repeated claims that the Iran war is ending have been met with growing skepticism from energy markets due to ongoing conflict and the prolonged closure of the Strait of Hormuz. Oil prices have surged over 11%, potentially raising US gas prices above $4 per gallon, with analysts predicting sustained high prices above $90 per barrel. The economic impact is global, affecting everything from consumer goods to inflation, and has prompted Trump allies to pressure for a swift war conclusion. Market credibility in Trump's rhetoric has eroded, with experts emphasizing that pre-war price levels are unlikely to return soon, regardless of US military actions.

Morgan Stanley Defensive Strategy as Oil Prices Spike on Iran War
Markets

Morgan Stanley Defensive Strategy as Oil Prices Spike on Iran War

Morgan Stanley strategists have recommended a defensive portfolio shift in response to rising oil prices triggered by the Iran conflict. They suggest reducing global equity exposure and increasing holdings in U.S. government bonds and cash. The firm cites heightened geopolitical risks and potential supply disruptions that could negatively impact risk assets. In their model portfolio, cash allocation has been raised to 11%, the highest in years, while equities are trimmed. This move reflects concerns over asymmetric downside risks in the current market environment.

Coinbase Secures OCC Approval to Bolster Stablecoin Business
Business

Coinbase Secures OCC Approval to Bolster Stablecoin Business

Coinbase has conditionally approved by the OCC to operate as a trust bank, granting federal oversight for payment and custody services. This approval avoids state-by-state regulations and supports its stablecoin strategy, particularly for USDC. The company clarifies it will not become a commercial bank or take retail deposits. The move reflects pro-crypto policies under the Trump administration. Coinbase is advancing USDC as a global payment method through various initiatives. CEO Brian Armstrong targets USDC dominance and top financial app status.

Jefferies Upgrades Ollie's Bargain Outlet, Sees 42% Surge
Markets

Jefferies Upgrades Ollie's Bargain Outlet, Sees 42% Surge

Jefferies upgraded Ollie's Bargain Outlet to 'buy' with a $130 price target, suggesting a 42% upside. The upgrade is driven by Ollie's unique ability to buy excess inventory at scale and its extensive store network of 645 locations. Analyst Randal Konik noted the closeout industry's shift to a structural channel. Despite margin and freight concerns, the company's soft opening strategy may boost comparable sales. Shares rose over 3% on the news. Ollie's aims to expand to 1,300 stores.

Trump White House Ballroom Gets Commission OK, Faces Court Halt
Politics

Trump White House Ballroom Gets Commission OK, Faces Court Halt

The National Capital Planning Commission approved Trump's White House ballroom project despite significant public opposition, but a federal judge has halted construction pending Congressional approval. The $300-400 million privately funded addition, targeted for 2028 completion, faces legal challenges and criticism from preservationists over its impact on historic integrity. Trump's personal involvement and the loyalty of approving boards have raised questions about compliance with planning laws. The outcome hinges on court appeals and potential Congressional action, with opponents arguing the project undermines White House heritage.

SpaceX's IPO could be the largest-ever public offering—what to know before investing, from experts
Business

SpaceX's IPO could be the largest-ever public offering—what to know before investing, from experts

SpaceX của Elon Musk đã nộp đơn IPO bí mật với Ủy ban Chứng khoán và Giao dịch Hoa Kỳ (SEC), dự kiến định giá lên tới 1.750 tỷ USD và niêm yết vào khoảng tháng 6. Công ty dự kiến huy động 75 tỷ USD, có thể trở thành IPO lớn nhất trong lịch sử Mỹ, vượt qua mức 22 tỷ USD của Alibaba năm 2014. SpaceX được cho là sẽ dành tới 30% cổ phiếu cho nhà đầu tư bán lẻ, cao hơn mức trung bình ngành. Các chuyên gia cảnh báo về biến động giá ngắn hạn và khuyến nghị nhà đầu tư nghiên cứu kỹ trước khi tham gia.

Workout Diversity Linked to 19% Lower Death Risk, Study Finds
Health

Workout Diversity Linked to 19% Lower Death Risk, Study Finds

A study published in BMJ Medicine, based on 30 years of data from over 110,000 people, found that high variety in physical activities reduces all-cause mortality risk by 19%. Experts like Dr. James Voos and Dr. Han Han highlight that exercise diversity offers superior benefits over prolonged single-activity routines. Recommendations include working all muscle groups weekly, varying exercises to prevent injuries, and incorporating rest days. This approach is beneficial for all ages, from children avoiding early sports specialization to professional athletes using cross-training. The findings align with U.S. physical activity guidelines, emphasizing moderate exercise and strength training.

Amazon in Talks for Globalstar to Boost Satellite Internet Ambitions
Markets

Amazon in Talks for Globalstar to Boost Satellite Internet Ambitions

On Thursday, U.S. stock markets experienced volatility due to geopolitical events involving Iran, with initial declines followed by recovery. Amazon is reportedly in talks to acquire Globalstar to bolster its satellite internet service, competing with SpaceX Starlink. Microsoft faces criticism for its AI spending decisions, leading to a significant stock decline. Despite the market turbulence, stocks like Corning, Linde, and Costco saw gains. Analysts suggest cautious optimism as the market adjusts to oversold conditions.

Trump's Daycare War Gaffe Highlights Iran PR Struggles
Politics

Trump's Daycare War Gaffe Highlights Iran PR Struggles

President Trump's private remarks comparing war funding to daycare have intensified criticism of his efforts to build support for a potential Iran war. The comments, made before a key primetime address, clash with widespread public opposition to the conflict due to financial costs. Polls show strong bipartisan resistance, with many Americans citing concerns like rising gas prices. Trump's argument for state-managed social programs is viewed as politically tone-deaf in this context. This incident adds to a pattern of economic messaging missteps by the administration. The White House's lack of response suggests awareness of the damage to their public relations strategy.

Trump's Gulf Allies Face Iran Alone as US Eyes Exit
World

Trump's Gulf Allies Face Iran Alone as US Eyes Exit

President Trump claims the war against Iran is almost complete, potentially ending in weeks, but Iran continues missile and drone attacks on Israel and the UAE. Gulf allies worry they will be left to confront Iran alone, particularly regarding control of the Strait of Hormuz. Regional states like Saudi Arabia, UAE, and Qatar disagree on whether to degrade Iranian capabilities further or seek quick de-escalation. The prolonged conflict heightens risks of Iranian retaliation on neighbors, while Trump's lack of a clear exit strategy threatens long-term regional security.

Midday Stock Movers: Tesla, GM, Delta Plunge as Oil Surges on Iran
Markets

Midday Stock Movers: Tesla, GM, Delta Plunge as Oil Surges on Iran

Oil prices surged over 10% after President Trump's speech indicated prolonged Iran conflict, driving market shifts. Energy stocks, including oil, LNG, and fertilizer companies, rose on supply disruption fears. Travel stocks, such as airlines and cruises, fell due to rising fuel costs and demand concerns. Tesla and General Motors declined on delivery misses and sales drops, compounded by oil price impacts. Nike continued sliding on a weak China sales outlook, while tech firms like Coherent and Lumentum gained. Additional moves included Wingstop's upgrade, Globalstar's rally on Amazon acquisition talks, and Penguin Solutions' earnings beat.

Trump Admin Plans Up to 100% Tariffs on Some Imported Drugs
Business

Trump Admin Plans Up to 100% Tariffs on Some Imported Drugs

The Trump administration is preparing a draft plan to impose tariffs of up to 100% on imported branded pharmaceuticals from companies that have not agreed to lower U.S. drug prices. Companies with existing deals, such as Eli Lilly, Pfizer, and Novo Nordisk, are exempt for three years under the 'most favored nation' policy. The plan includes a 20% tariff for firms moving production to the U.S., rising to 100% after four years, and separate rates for certain countries based on bilateral deals, while generic drugs face no additional tariffs. The proposal is not final and could be announced as early as Thursday, according to reports. The White House has not commented on the draft.

Restaurant Brands Stock Breakout: Josh Brown's Best Pick
Business

Restaurant Brands Stock Breakout: Josh Brown's Best Pick

Restaurant Brands International (QSR) has been named to Josh Brown's "Best Stocks in the Market" list following a technical breakout above $75. The company, behind brands like Tim Hortons and Burger King, is executing a turnaround under Executive Chairman Patrick Doyle. QSR plans significant international expansion with 1,800 new stores annually by 2028. Financial projections include 6% revenue growth and 35% EBIT growth for the next quarter. Pershing Square remains a key supportive shareholder. The stock's rise is backed by improving franchisee economics and brand revitalization efforts.

Stocks Sink as Trump's Unclear Exit Plan Rattles Markets
Markets

Stocks Sink as Trump's Unclear Exit Plan Rattles Markets

U.S. stocks fell sharply on Thursday following President Donald Trump's announcement of an escalated Middle East conflict and the absence of a clear exit plan. Major indices dropped over 1% at open, with the Dow down 1.35%, S&P 500 down 1.25%, and Nasdaq down 1.68%. Oil prices surged significantly, with Brent up 8.2% and WTI up 13.1%, due to supply concerns from the Strait of Hormuz. Global markets, including Japan's Nikkei and Germany's DAX, also declined. Rising gasoline prices and bond yields reflect heightened inflation fears and economic uncertainty, marking poor quarterly performances for U.S. indices.

UConn's Alex Karaban Aims for Historic NCAA Three-Peat
Sports

UConn's Alex Karaban Aims for Historic NCAA Three-Peat

Alex Karaban, UConn's senior forward, aims to become the first college basketball player since the 1970s to win three NCAA championships by staying at one school. He is the winningest player in UConn history with 125 wins and has balanced academics with athletics, graduating with an economics degree. Karaban's four-year tenure is rare in the modern transfer era, and he has developed from a supporting player to a key leader. Despite a dip in performance during his junior year, he rebounded with clutch plays like the decisive three in the Elite Eight. His quiet, consistent leadership complements Coach Dan Hurley's intensity. A third title would place Karaban among an elite group in NCAA history.

Regional sports networks are faltering even as ratings soar
Business

Regional sports networks are faltering even as ratings soar

Các mạng thể thao khu vực (RSNs) đang suy yếu mạnh mẽ dù rating thể thao trực tiếp tăng cao, chủ yếu do áp lực từ sự chuyển dịch của người xem sang nền tảng streaming. Vào tháng 3/2026, khi mùa giải MLB bắt đầu, MLB đã tiếp quản việc phân phối truyền hình cho 14 đội, xuất phát từ việc công ty Main Street Sports (trước đây là Fox Sports networks) phá sản và không thể duy trì hoạt động. Main Street từng sở hữu khoảng 15 kênh phát sóng cho tới 30 đội MLB, NHL và NBA, nhưng các cuộc đàm phán bán cho DAZN và Fubo đã thất bại. Các đội NBA và NHL dự kiến sẽ hoàn thành mùa giải qua các kênh FanDuel Sports (thuộc Main Street), trước khi công ty chính thức ngừng hoạt động. Tương lai của các đội này có thể nằm ở các chủ sở hữu đài truyền hình như Scripps hoặc ứng dụng streaming trực tiếp, dẫn đến những thay đổi lớn về mô hình tài chính phụ thuộc vào phí bản quyền và quảng cáo truyền thống.

Rick Ross Declares Africa's Global Music Moment Long Overdue
Entertainment

Rick Ross Declares Africa's Global Music Moment Long Overdue

Rick Ross, in a CNN interview, declared Africa's global music influence, especially Afrobeats, as an inevitable and long-overdue cultural shift. He credited Fela Kuti as a foundational pioneer, likening his impact to James Brown's on hip-hop. Ross highlighted his early collaborations with African artists like P-Square and Yemi Alade before the genre's mainstream rise. He revealed a new collaborative album through Maybach Music Group and envisioned a supergroup with icons like Burna Boy. Additionally, Ross is exploring business opportunities in Africa, including real estate in Zimbabwe. He emphasized that this is sustained cultural momentum, not a temporary trend.