Welcome to Markets Desk, your midday briefing on the stories moving the conversation.
Rudy Giuliani, former New York City mayor and longtime ally of President Trump, has been hospitalized in critical condition. Trump took to Truth Social to praise Giuliani as a, quote, True Warrior, calling him the best mayor in the history of New York City by far. No further details on his condition have been released.
Turning to energy markets, oil prices are trading in choppy fashion after President Trump signaled plans to free vessels stranded as a result of ongoing Mideast conflict. The situation remains fluid, with the United Kingdom Maritime Trade Operations agency confirming that a tanker was struck by projectiles north of Fujairah in the United Arab Emirates, keeping traders on edge and supply routes uncertain.
And on the labor front, the human cost of Spirit Airlines' collapse is coming into sharp focus. The carrier ceased operations Saturday after thirty-four years, leaving roughly seventeen thousand workers without jobs. Employees described learning the news through a surprise email, with some told on the spot to remove their uniforms. One former worker said simply, this broke a lot of people's hearts.
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