U.S. President Donald Trump and Vice President JD Vance defended the interim agreement with Iran against criticism from Republicans, asserting that the U.S. is not directly funding Iran and that any economic benefits depend on compliance with a 14-point memorandum.
Despite the end of the U.S. blockade of Iran's ports, which allowed tankers carrying over 12 million barrels to cross the Strait of Hormuz, oil prices remained stable, suggesting that investors are awaiting more definitive signs of de-escalation in the region.
Concurrently, new Federal Reserve chair Kevin Warsh's hawkish remarks have led traders to reassess the outlook for interest rates, raising concerns about prolonged elevated borrowing costs. In a separate development, Amazon is investigating employees who advocated for a moratorium on AI data centers, reflecting ongoing tensions in the tech industry.
Additionally, prediction market platform Kalshi is reportedly in informal IPO talks after achieving $2 billion in annualized revenue, marking a significant milestone for the company