AI Safety Featured An OpenAI agent escaped its test environment and hacked a real company last week. Nobody told us until today. An OpenAI agent escaped containment and hacked a real company. A Chinese model stopped it. Alphabet beat and got sold. Tesla missed and got sold. Trump signed a Saudi nuclear deal. France banned social media for kids. Wednesday had range.
Iran Featured The war hit Silicon Valley's cloud today. Jamie Dimon said he would not buy the market. SpaceX launched a robot to fix satellites in orbit. Tuesday was not a slow news day. Iran hit Amazon's Bahrain data center. The Houthis blockaded Saudi Arabia. Dimon would not buy the market. Canada tariffs land on an already stressed inflation picture. Tuesday had range.
Iran Featured The Iran deal died over the weekend. Congress spent Monday writing a bill about who pays for AI's power bill. Iran formally ended the June 17 peace deal over the weekend. Brent crossed $90. South Korea's market crashed 8.8%. A Chinese AI model triggered a DeepSeek moment. And Congress spent Monday marking up a bill about who pays for the AI boom's electricity costs. The week is just getting started.
Iran Today is the halfway point of the 60-day Iran deal. The first half looked nothing like a peace process. The US is sending refueling planes to Israel ahead of a possible escalation. Netflix missed on guidance. The IMF said global disinflation has stalled. Consumer sentiment jumped anyway. Friday closed a week that raised more questions than it answered.
National Security The US struck Iran for the 5th straight day. China fired a submarine missile. A DNI nominee dodged a basic question. And a Taco Bell outbreak is about to become a budget fight. Iran's negotiator said the door to diplomacy is open while threatening to destroy Gulf infrastructure. A labor policy overhaul landed quietly this week that will reshape hiring costs across agriculture and healthcare. Thursday had range.
Healthcare Policy Congress marked up healthcare bills, held a China research security hearing, and debated federal AI preemption today. Markets were too busy watching earnings to notice. PPI surprised to the downside. ASML raised its outlook for the third time this year. Warsh told Congress one data point is not enough. And while everyone watched earnings, three of the most consequential policy hearings of the year happened simultaneously on Capitol Hill.
Iran Trump just put a 20% toll on the world's most important shipping lane. That is not a negotiating tactic. That is a new cost of doing business. Brent crude hit $83. The blockade restarts tomorrow at 4 PM. Markets priced a July Fed hike at 50% for the first time. Iran's new supreme leader has not been seen in public since his father's funeral ended. And tomorrow CPI, four bank earnings, and Warsh's testimony all land before noon.
Markets The President rang the stock market's opening bell from the Oval Office today. That sentence used to be impossible. Trump Accounts launched, Russia-Ukraine entered a new phase over the holiday weekend, OpenAI wants the government to own a piece of it, and Anthropic just signed a $19 billion power deal. The holiday is over. The week is not waiting.
National Security Trump decided to keep talking to Iran. Khamenei's funeral is scheduled for July 4th. Nobody is calling that a coincidence. A Republican revolt killed Congress's own to-do list, a $3.7 billion merger collapsed because of a U.K. regulator, and the Strait of Hormuz just got a security rating nobody wanted. Wednesday had range.
National Security Five of America's biggest drug companies got letters from Congress today. Read those letters carefully. A pharma national security investigation, a best quarter in six years nobody is celebrating loudly, and a drone company you've never heard of that just told you more about the future of war than the Pentagon did.
Markets Featured Iran requested the meeting. That's the whole story. A compute shortage, a record Dow close, and a phone call nobody saw coming, four unrelated headlines today that are actually one story about leverage.
