Welcome to Markets Desk, your midday briefing on the stories moving markets and the world.
The Strait of Hormuz remains a flashpoint after conflicting signals from Washington and Tehran. President Trump declared the strategic waterway open, directly contradicting Iranian claims, following U.S. military strikes on Iranian targets after a drone struck a container ship. Energy traders are watching closely, given that roughly a fifth of global oil supply moves through those waters.
Turning to equities, Palantir is drawing fresh attention from analysts who see the artificial intelligence platform company reaching a four hundred billion dollar market capitalization by the end of two thousand twenty seven. The bull case rests on deepening commercial adoption of its AI tools and expanding government contracts, though the stock already trades at a premium that leaves little room for execution missteps.
And in a story with immediate political consequences, Senator Lindsey Graham of South Carolina has died following what his office described as a brief and sudden illness. His passing, less than four months before midterm elections, creates a complicated succession picture in a deeply conservative state and could scramble Senate math at a moment when margins in Washington are razor thin.
That's the tape. Markets Desk, signing off the floor.
