No respite in Middle East

Bloomberg Morning Briefing Americas

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Good morning. Israel and Iran offer no respite in the Middle East conflict. The Senate passes legislation to fund most of the DHS. And Claude-maker Anthropic mulls an IPO. Listen to the day's top stories. — Tiago Ramos Alfaro Market Snapshot S&P 500 Futures 6,505.50 -0.3% Bloomberg Dollar Spot Index 1,217.45 +0.1% Brent Crude Futures $110.26 +2.1% Market data as of 06:49 AM ET. Data is subject to provider delays. Your watchlist Iran and Israel exchanged missile fire and Tehran targeted several Gulf states, underscoring the willingness of the two sides to keep fighting even after Donald Trump's latest push for peace talks. As the situation continues to develop, stay up to date with our live blog. Three Federal Reserve officials voiced their concern over the war's economic fallout. Governor Lisa Cook warned of inflation risks, while her colleagues Michael Barr and Philip Jefferson supported keeping rates steady as they assess the effects of the conflict. Markets reflected the unease, with US stocks headed for their longest streak of weekly losses since 2022 and oil prices pushing higher as traders braced for the war potentially stretching into April. Closer to normal: The US Senate passed legislation to fund most of the Department of Homeland Security. Republicans agreed to finance the agency save for ICE and the Border Patrol, marking a major step toward ending a shutdown that's snarled US airport security. Trump had earlier said he would sign an order to pay TSA agents in a bid to ease disruptions. Space tourist Ron Rosano aboard a Virgin Galactic rocket in 2023. Source: Ron Rosano Space tourism's early promise is stalling as soaring costs, thin demand and technical delays ground flights. With Blue Origin pausing launches and Virgin Galactic regrouping, even wealthy thrill-seekers are left waiting, highlighting an industry still searching for scale and a path beyond its ultra-rich niche. The maker of the Claude AI chatbot is considering going public as soon as October, people familiar said. The Information reported a listing could raise more than $60 billion, but Anthropic hasn't made a final decision yet. Apple's iPhone hardware designers are also looking at a windfall; the company is said to have awarded them bonuses of worth several hundred thousand dollars in an attempt to stem a wave of departures to AI startups. Bloomberg House arrives in Miami at the Formula One Grand Prix. Set against one of the world's most electrifying sporting events, we bring together business, investment, real-time data and Bloomberg journalism to fuel forward-looking discussions, as well as networking with global leaders. Register here. Deep Dive: Emerging Fissures Photographer: Emily Elconin/Bloomberg Cracks are emerging in Trump's MAGA base as the Iran war drags into its fifth week, turning the typically unified Conservative Political Action Conference into a debate over foreign policy and rising costs. Some Trump loyalists and conservative media figures are openly opposing the war, citing broken promises and blaming Israel, even as most Republicans still back the president's actions. The administration has said it started the war because of threats posed by Iran, but there are signs of disagreement between the US and Israel over its aims. The worry for Republicans is that surging oil and gas prices, plus uncertainty over the war's end, risk political fallout for Trump and the GOP going into November's midterm elections. The Big Take The implosion of UK mortgage lender Market Financial Solutions has left big names facing potential losses of $1.7 billion. Now questions are being asked about blind spots in their due diligence and the regulation of private markets. Opinion Buildings on Park Avenue in the Plaza District of New York, on March 24. Photographer: John Taggart/Bloomberg Illiquid private credit funds are unsuitable for ordinary investors at scale, Paul J. Davies writes. Expanding them into retail and retirement markets is "a big accident waiting to happen" that could harm financial stability. More Opinions Lisa Jarvis Health-Care Costs Are Forcing Terrible Trade-Offs Editorial The Pentagon Needs to Give Better Answers on Its 'Golden Dome' Play Alphadots! Our daily word puzzle with a plot twist. Play now! Before You Go A Rolex, Reference 1675 GMT-Master 'Pepsi'. Photographer: Alexi Rosenfeld/Getty Images Rolex's steel GMT Master II, with a red-and-blue "Pepsi" bezel, has recorded a $3,000 jump in the secondary market this year, according to the Bloomberg Subdial Watch Index, amid speculation the model has been discontinued. A Couple More Oscars Show to Move From Hollywood to Downtown Los Angeles Elizabeth Holmes Gets a Year Knocked Off Her Prison Term More From Bloomberg Enjoying Morning Briefing Americas? Get more news and analysis with our regional editions for Asia and Europe. Check out these newsletters, too: Markets Daily for what's moving in stocks, bonds, FX and commodities Breaking News Alerts for the biggest stories from around the world, delivered to your inbox as they happen Supply Lines for daily insights into supply chains and global trade FOIA Files for Jason Leopold's weekly newsletter uncovering government documents never seen before Explore all newsletters at Bloomberg.com. We're improving your newsletter experience and we'd love your feedback. If something looks off, help us fine-tune your experience by reporting it here. Follow us You received this message because you are subscribed to Bloomberg's Morning Briefing Americas newsletter. 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