Navy lifted the Hormuz blockade Wednesday on Trump’s order. First vessels transited the strait Wednesday night. WTI fell below $75 for the first time since March.Fox
2.
S&P 500 gained 1.08% Thursday, erasing Wednesday’s Fed selloff. $8.3 trillion in options expired in the largest single session ever. Markets dark until Monday for Juneteenth.CNBC
3.
Trump said Apple agreed to build chips with Intel in America. Intel closed up 10%. Neither company has confirmed.BBG
War & Conflict
4.
Hegseth announced a six-month Pentagon review of US forces in Europe. Told NATO allies to start paying for their own defense. Rutte confirmed the US has already reduced its commitments.AP
5.
UK pledged £752 million for Ukraine — 150,000 drones and more than 350 air defense missiles and radars. All funded from proceeds of frozen Russian assets.Reuters
6.
Ukraine hit Moscow with 194 drones, its largest attack on the capital since 2022. Moscow Oil Refinery struck for the second time this week. BBG
Politics
7.
Senate voted 84–8 to advance the 21st Century ROAD to Housing Act. Bipartisan bill expanding affordable housing finance heads to the House. AP
8.
Education Department cut federal student loan rates by 1 point for auto-pay borrowers. Takes effect July 1. Federal student debt sits near $2 trillion.AP
Around the World
9.
Vance and Iran’s parliament speaker Ghalibaf meet at Bürgenstock today. Formal MOU already signed. Nuclear talks are next.Reuters
10.
Gold fell to $4,247, near its lowest since November. The Iran deal and a hawkish Fed rarely push the same way.Reuters
