FSMN

Iran’s Revolutionary Guards say any military vessels approaching the Strait of Hormuz will be considered a ceasefire breach and “dealt with harshly and decisively,” per Reuters. Guards say the strait is under “control and smart management” of IRGC Navy. Open for non-military vessels only “in accordance with specific regulations.“

BREAKING: Iran-US negotiations in Islamabad have ended without an agreement, per Iran’s Tasnim. Iran says “US excessive demands hindered a common framework and agreement.” Key sticking points: Strait of Hormuz and nuclear rights. Tasnim citing source: “Iran is not in a hurry for negotiations. As long as the US does not agree to a reasonable deal, there will be no change in situation in the Strait of Hormuz.“

Two US warships transited the Strait of Hormuz and operated in the Gulf, per US military. Another round of negotiations likely to be held tonight or tomorrow, per Iran’s Nournews citing source close to negotiators.

Three-way peace talks between the US, Iran, and Pakistan are underway in Islamabad, per White House official. Full teams of US experts present with additional support from Washington. Meanwhile, US military says it has begun setting conditions for clearing mines from the Strait of Hormuz.

Boston Beer $SAM ordered to pay $175.5M in damages to Ardagh following jury verdict, per SEC filing. Company says payment "not expected to materially impact operating plans."

Trump has repeatedly promised mass pardons to top administration officials before leaving office, per WSJ. "I'll pardon everyone who has come within 200 feet of the Oval," Trump said in a recent meeting to laughs.

BREAKING: OpenAI says a Molotov cocktail was thrown at CEO Sam Altman's house and threats were made at the company's San Francisco headquarters.

BREAKING: Commvault $CVLT exploring a sale after receiving takeover interest, working with Goldman Sachs $GS, per Reuters. Thoma Bravo among firms expressing interest. Market cap around $3.5B after shares dropped ~60% since September. Revenue grew 19% to a record $314M last quarter. ARR hit $1.085B, +22% YoY.

Blackstone $BX eyeing a $2B IPO for a data center acquisition company. Goldman Sachs $GS leading the deal, with Citi $C and Morgan Stanley $MS also involved. Marketing could begin as soon as this month.

Trump: The Iranians don’t seem to realize they have no cards, other than a short term extortion of the World by using International Waterways. The only reason they are alive today is to negotiate! President DONALD J. TRUMP

Trump to NY Post: "We're loading up the ships with the best ammunition, the best weapons ever made" to resume strikes if Iran peace talks fail. "We're going to find out in about 24 hours." VP Vance en route to Islamabad with Witkoff and Kushner for negotiations. Talks expected to focus on Iran handing over enriched uranium and keeping the Strait of Hormuz open. Trump on Iran's mixed signals on enrichment: "To our face, they're getting rid of all nuclear weapons, everything's gone. And then they go out to the press and say, 'No, we'd like to enrich.' So we'll find out."

YouTube raises subscription prices in the US for the first time since 2023, per spokesperson. $GOOGL

Trump: Palantir Technologies (PLTR) has proven to have great war fighting capabilities and equipment. Just ask our enemies!!! President DJT $PLTR

U.S. February factory orders unchanged vs -0.2% est. Ex-transportation +1.2% vs +0.5% prior. Nondurables orders +1.5%. Core capital goods orders revised up to +0.7%.

University of Michigan consumer sentiment prelim April: Sentiment: 47.6 vs 52.0 est vs 53.3 prior Current conditions: 50.1 vs 55.8 prior Expectations: 46.1 vs 51.7 prior 1-year inflation expectations: 4.8% vs 3.8% prior 5-year inflation expectations: 3.4% vs 3.2% prior Sentiment cratering, inflation expectations surging. Ugly report.

What’s one thing you wish Rallies had but doesn’t yet?

bros going thru it rn Trump responds to WSJ editorial board calling his Iran declaration a “premature victory”: “Actually, it is a Victory, and there’s nothing ‘premature’ about it! Because of me, IRAN WILL NEVER HAVE A NUCLEAR WEAPON.” “Very quickly, you’ll see Oil start flowing, with or without the help of Iran.”

Trump: “There are reports that Iran is charging fees to tankers going through the Hormuz Strait - They better not be and, if they are, they better stop now!”

Trump goes after Tucker Carlson, Megyn Kelly, Candace Owens, and Alex Jones in lengthy post, calling them “NUT JOBS, TROUBLEMAKERS” with “Low IQs” for opposing his Iran policy. “They think it is wonderful for Iran, the Number One State Sponsor of Terror, to have a Nuclear Weapon.” On Carlson: “couldn’t even finish College, he was a broken man when he got fired from Fox.” On Owens: “Crazy Candace Owens.” On Jones: “says some of the dumbest things, and lost his entire fortune, as he should have.” “They’re not ‘MAGA,’ they’re losers, just trying to latch on to MAGA.”

Mercedes-Benz USA reports 78,500 retail sales in Q1 2026.