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.
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 said the ceasefire was over at a NATO summit. Oil spiked 5%. Markets shrugged. That shrug is the story. Overnight strikes in the Strait of Hormuz. PepsiCo missed earnings. Home sales fell. Chips bounced. The market absorbed all of it and finished green. Either investors know something, or they are pricing in a world that no longer exists.
Semiconductors Samsung made 19 times more profit than last year. Its stock fell 7%. Welcome to earnings season. SpaceX joined the Nasdaq-100 and immediately dropped 6%. DeepSeek is building a chip to replace Nvidia. Amazon wants $25 billion. And Trump told Walmart to cut prices on Truth Social. Tuesday had range.
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.
