Iran tensions hit oil

Bloomberg Morning Briefing Americas  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌

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Good morning. Iran rattles markets again. SpaceX’s long-awaited IPO draws closer. And New York commuters face major rail disruption. Listen to the day’s top stories. — Hellmuth Tromm Market Snapshot S&P 500 Futures 7,401.75 -0.4% Nasdaq 100 Futures 29,132.00 -0.3% WTI crude oil futures $106.36 +0.9% Market data as of 06:28 AM ET. Data is subject to provider delays. Your watchlist Iran is back at the center of global markets. Oil rose while stock futures declined as the war dragged on and a peace deal remained elusive, fanning inflation fears. Donald Trump warned Tehran the “clock is ticking,” hours after drones targeted a nuclear power plant in the United Arab Emirates. Some prominent investors now fear the Federal Reserve is behind the curve. Market strategist Ed Yardeni said policymakers should abandon their easing bias, while DoubleLine’s Jeffrey Gundlach said “it’s just not possible” for the Fed to cut rates. Gold has struggled amid the bond rout, but Goldman predicts central-bank demand will help lift bullion later this year. DraftKings, Meta, AI Firms Have a New Election Playbook: Flood State-Level Races With Cash Read more Despite an unpopular war and soaring gas prices, Trump showed his enduring grip on the GOP by helping oust Senator Bill Cassidy in Louisiana’s Republican primary. Cassidy, who voted to convict Trump in his second impeachment trial and opposed Robert F. Kennedy Jr.’s health policies, finished last in a three-way race won by White House-backed Julia Letlow. The loss comes ahead of another high-profile Kentucky primary tomorrow, where Trump is backing efforts to unseat Representative Thomas Massie. Long Island Rail Road riders are bracing for congested roads and packed buses, after a pay dispute triggered the first shutdown of the nation’s busiest commuter rail line in more than 30 years. The parties resumed negotiations Sunday afternoon as 3,500 engineers, electrical workers and signalmen walk off the job for the first time since 1994. Spring Sale: Save 60% on your first year Get the numbers behind the narratives. Enjoy unlimited access to Bloomberg.com and the Bloomberg app, plus market tools, expert analysis, live updates and more. Offer ends soon. Unlock 60% off Deep Dive: SpaceX’s Mega IPO Elon Musk in the control room with Trump and US lawmakers before the launch of a Starship rocket test flight in November 2024. Source: Brandon Bell/Getty Images After three years of explosions, redesigns and technical upgrades, SpaceX’s mission-critical Starship is scheduled to launch its twelfth test flight as soon as this week. With the company’s IPO fast approaching, Elon Musk needs the rocket to perform as promised. SpaceX plans to publicly file for its IPO as soon as Wednesday and has notified investors of a 5-for-1 stock split. Much of SpaceX’s lofty ambitions depend on Starship, the giant rocket designed to launch larger Starlink fleets, support lunar missions and eventually enable a human settlement on Mars. Musk also envisions Starship powering a network of more than 1 million “data center satellites” to support AI. But the test campaign for Starship’s latest version, known as V3, got off to a rough start when a booster exploded on a test stand in November, following various mishaps with earlier versions. The SpaceX IPO could become Musk’s most audacious product launch yet, potentially valuing the company at more than $2 trillion. The Big Take Illustration: Sergiy Maidukov for Bloomberg Ukraine’s wartime industries have become dependent on a creditor with massive leverage. VR Capital built a powerful position in Ukrainian bonds, giving it enormous influence as companies central to the war effort try to restructure their debt. Big Take Podcast Winners and Losers of the Trump-Xi Summit Opinion It’s not exactly clear skies for the airline industry. Photographer: Gareth Fuller/PA Images The war in Iran is squeezing airlines, but your summer vacations should still be fine, Javier Blas writes. Your fall trips may be a different story. More Opinions Karishma Vaswani Trump’s Recklessness on Taiwan Is a Mistake Liam Denning Fix America’s Power Grid by Giving People Power Play Alphadots! Our daily word puzzle with a plot twist. Play now! Before You Go Swatch x Audemars Piguet Royal Pop watches on display at a Swatch Group store in Times Square in New York. Source: Bloomberg Instant resale: €385 watches from the Audemars Piguet-Swatch collaboration quickly surfaced online for as much as €5,000 after crowds forced some Swatch stores to shut over safety concerns. The chaotic rollout has also drawn criticism from watch influencers. Check out the weekend buzz here. One More The Best Movies, TV, Books, Art and Theater Arriving in June 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: AI Today chronicles the disruptions and threats of AI Market Moves delivers the pulse of the market to your inbox Markets Daily has what’s moving in stocks, bonds, FX and commodities Opinion Today for an afternoon roundup of our most vital opinions Texas Edition dives into the companies and people powering America’s second-largest economy 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. If a friend forwarded you this message, sign up here to get it in your inbox. 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