Rana Abdul Basit Manawar

If you missed everything, start here. Iran basically said, we’ll reopen the Strait of Hormuz if the U.S. lifts the blockade and ends the war, nuclear talks later, but yeah, Trump’s probably not buying it. Oil still went up anyway as Iran’s FM landed in Moscow to meet Putin, traders pretty much shrugged at the Hormuz headlines. Secret Service might literally run out of money by the end of the week, this shutdown risk is starting to look very real. Kevin Warsh is now clear for Fed Chair after the last GOP holdout folded and DOJ dropped the Powell probe, vote’s on Wednesday. U.S. drivers are easing off the gas, petrol sales in the Northeast down 4.3 percent in March vs 0.6 percent growth last year. About a quarter of S&P 500 is in, earnings saying big U.S. companies are doing better than all the doom talk suggests. DeepSeek is going aggressive with cheap pricing on its new model, China vs Silicon Valley AI fight just shifted gears. U.S. State Department dropped a global warning over alleged AI IP theft tied to DeepSeek and other Chinese firms. China blocked Meta’s $2 billion Manus deal, already messy, now dead. China’s industrial profits just hit their fastest growth in 6 months, but still uneven with the Iran war ripple effects. Japan’s tightening shareholder rules after pushback on activist investors. U.S. and Japan are lining up a joint drone play to counter China. Source: AP, Bloomberg, Semafor, FT, WSJ, Reuters, Kyodo

🚨 BREAKING: 🇩🇪🇺🇸🇮🇷 German chancellor Merz says U.S. is being humiliated by the Iranian leadership.