CNBC Daily Open: War by Other Means Turns to Armed Conflict
After a week or so of saying how the U.S. will transition to economic warfare on Iran, Washington has decided that a return to actual strikes is the way to go.
TL;DR
- U.S. forces conducted strikes on Iranian rocket launchers on Larak Island, marking a return to military action against Iran.
- Oil futures saw a slight increase, while U.S. stock futures and Asian markets declined following the news.
- Federal Reserve Chair Kevin Warsh signaled that interest rate hikes are possible due to inflation remaining above target, creating a divergence with President Trump's preferences.
- Treasury Secretary Scott Bessent will urge G20 countries to re-examine trade terms with China to promote economic rebalancing.
- OpenAI is terminating its contract with developers using its models on Cursor, which was acquired by SpaceX, citing concerns about SpaceX's adherence to terms of service.
- Aon is reportedly close to a $17 billion deal to acquire insurance brokerage USI from KKR.
- Icelanders voted against resuming talks to join the European Union, prioritizing domestic control over geopolitical security concerns.