Thursday's News Links

[CNBC] S&P 500 little changed as traders evaluate oil rebound, in-line inflation: Live updates

[Yahoo/Bloomberg] Oil Gains as Renewed Gulf Attacks Threaten Fragile Ceasefire

[Axios] Leveraging up

[AP] Shaky ceasefire in Iran war is challenged again as Kuwait faces a missile attack

[Reuters] Iran and US trade air strikes after Trump dismisses report of Hormuz deal

[CNBC] Kuwait air defenses activated against ‘missile and drone threats’; U.S. carries out new strikes in Iran

[Reuters] The US-Iran ceasefire is unravelling

[Reuters] Trump says he can outwait Iran, dismisses midterm election pressure

[CNBC] Core inflation hit an annual rate of 3.3% in April, as expected, Fed’s preferred gauge shows

[AP] Key inflation gauge worsens, eroding Americans’ income and spending power

[AP] US jobless claims rise to 215,000 but layoffs remain low despite Iran war uncertainty

[Yahoo/Bloomberg] Warsh’s New Challenge: Containing Fed Hawks as Inflation Simmers

[CNBC] Energy inflation has been more persistent than expected: Fed’s Goolsbee

[Axios] AI sticker shock hits corporate America

[Axios] The CEOs are losing confidence

[Axios] Iran war drives multi-year missile defense gap

[AP] US will need years to replenish stockpiles of advanced weapons used in Iran war, new analysis finds

[AP] About 8% of the country lacked health insurance in 2025, new data shows. That could rise next year

[Axios] Exclusive: Trump's accelerating squeeze on Cuba

[Bloomberg] US Consumer Spending Edges Up as Inflation Accelerates

[Bloomberg] Iran, US Accuse Each Other of Truce Breach With No Deal in Sight

[Bloomberg] Hedge Funds Control More Than Half of Electronic Gilts Trading

[Bloomberg] Goldman Traders See a Short Squeeze Brewing for Unloved Sectors

[Bloomberg] Global Warming Likely to Exceed 1.5C Through 2030, WMO Says

[NYT] Iran War Lifts a Second Inflation Reading to Highest Level Since 2023

[WSJ] April Durable-Goods Orders Beats Forecasts

[WSJ] U.S. Military Conducts New Strikes on Iran

[WSJ] How Long Can Iran Withstand the Economic Pain of the U.S. Blockade?

[WSJ] The High-Seas Black Market That Keeps Iran’s Illicit Oil Flowing

[WSJ] Fed’s Goolsbee Warns U.S. Economy Heading in ‘Stagflationary’ Direction

[WSJ] Fed’s Independence Still Under Threat, ECB’s Lagarde Says

[WSJ] One Million New-Car Buyers Are Gone and They’re Not Coming Back Soon

[WSJ] China Is Exporting Its Factories Across the World and Spooking the Competition

[FT] Chip stocks race towards biggest gains since dotcom era on AI demand

[FT] AI boom outweighs Iran war pain, Korean central bank chief says

[FT] Ukraine is turning the tables

[FT] Bill Gross: America’s hegemonic glory is under threat

Wednesday Evening Links

[CNBC] Stock futures are little changed as Wall Street awaits key April inflation reading: Live updates

[Reuters] Oil rebounds after US strikes Iran military site

[CNBC] Fed’s Kashkari says inflation fight takes priority as labor market is ‘in decent shape’

[AP] Trump says Iran ‘negotiating on fumes,’ insists that midterm elections won’t impact his war strategy

[Yahoo/Bloomberg] Trump Disputes Iran’s Hormuz Control, Touching on Sticking Point

[Yahoo/Bloomberg] Trump’s Iran Bind Deepens With Hormuz Shut and Hawks Pushing War

[Yahoo/Bloomberg] Fed’s Cook Prepared to Raise Rates If Inflation Lingers

[Yahoo/Bloomberg] US Airlines See Robust Demand Even as Consumer Confidence Falls

[Bloomberg] Oil Rises on Report of Fresh US Strikes With Hormuz Still Shut

[Bloomberg] Fed’s Jefferson Warns of Inflation Risks From Energy Price Surge

[Bloomberg] War Stress Pushes Indonesia, Thailand to Lean on Short-Term Debt

[WSJ] $5.7 Trillion and Counting. How Much Further Can the Chip Rally Run?

Wednesday Afternoon Links

[CNBC] Dow rises 200 points to record as oil declines, but a pause in the chip rally weighs on the S&P 500: Live updates 

[CNBC] Oil prices fall 4% after Rubio says U.S. will give Iran talks ‘every chance to succeed’

[CNBC] Traders are skeptical of Iran timeline for Strait of Hormuz reopening

[Yahoo/Bloomberg] US Denies Iran Report on Draft Peace Deal to Reopen Hormuz

[Yahoo/Bloomberg] US Lenders Posted Winning First Quarter, FDIC Says

[Reuters] US mortgage rate rises to nine-month high, worsening affordability again

[Yahoo/Reuters] NY Fed finds 'remarkable increase' in food insecurity for many Americans

[Yahoo/Reuters] US, Mexico set three rounds of trade deal talks without Canada

[Axios] The big China trade bet is over

[Axios] What it would take to rebuild U.S. manufacturing might

[Axios] Taiwan frets as U.S. withholds weapons

[Bloomberg] Strait of Hormuz Traffic Fades to a Crawl After Supertankers Exit

[Bloomberg] Trump Claims Nobody Will Control Hormuz, US to Watch Over It

[Bloomberg] New CLOs at Blackstone, Guggenheim Boast Key Perk: Less Software

[Bloomberg] Oil Barges Forced to Carry Less Fuel as Rhine Water Level Drops

[NYT] Global Supply Shortages Deepen, Threatening Jobs and Growth

[WSJ] Canada Moves Toward Energy Superpower Goal With German LNG Deal

[FT] Iran’s ultra-hardliners lash out at negotiators over US talks