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The House voted 215-208 to end the Iran war; four Republicans crossed over. It was the first such measure to clear the chamber since the war began. The vote is symbolic — it faces the Senate and a near-certain veto. The message landed anyway. CNBC
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Israel and Lebanon agreed to implement a ceasefire, contingent on Hezbollah halting fire. US futures steadied on the news. It is a conditional deal, not a done one. One front may cool; the Gulf has not. Reuters
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Eight Gulf and Arab states condemned Iran’s strikes on Kuwait and Bahrain. Kuwait expelled two Iranian diplomats and gave them 24 hours to leave. Iran’s own neighbors are lining up against it. That is a shift worth watching. Reuters
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Iran launched ballistic missiles at Kuwait and Bahrain overnight; most were intercepted. US forces struck a control site on Qeshm Island. The ceasefire is now mostly a word. The fighting is the reality. Reuters
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The US oil reserve is on pace to hit its lowest level in decades. Another 8 million barrels were drawn last week, near Biden-era lows. The cushion is thinning right as oil sits near $95. Few good options left. EIA
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WTI rose above $95 Wednesday, a third straight session up on Iran risk. It eased about 0.8% overnight to near $95.50 but held the gains. The risk premium is doing the pricing. A small dip does not change the trend. BBG
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Scott Pelley was fired from “60 Minutes.” He said management told him to “inject falsehoods and bias” into a story. He blamed editor-in-chief Bari Weiss for the show’s collapse. Correspondents Sharyn Alfonsi and Cecilia Vega were among those already pushed out. Fox
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The House also advanced a motion to unlock a vote on Ukraine aid. It was a second rebuke to the White House in one day. Two defeats for the president in his own chamber, hours apart. The majority is fraying. AP
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The Fed’s Beige Book showed the economy expanded only marginally through May. Inflation pressures continued to squeeze consumers and corporate margins. Marginal growth plus sticky inflation. The war is showing up in the Fed’s own survey. Fed
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Broadcom reported record revenue of $22.2 billion, up 48%, with AI chip sales up 143%. The stock slipped after hours as the CEO held the AI target steady. A beat that wasn’t enough. Now eyes turn to Friday’s nonfarm payrolls report. CNBC
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