Amy Morris

will consider a ceasefire with Iran when the Strait of Hormuz is open.

The president posting on social media that Iran has asked for a ceasefire.

But Iran says no, that the strait won't reopen based on Trump's, quote, absurd displays, and that the future of the Hormuz Strait will be decided by Iran and Oman.

President Trump is set to address the nation tonight.

A White House official says Trump will provide an update on the war's progress and a two- to three-week timetable for its end.

Trump also told Reuters that he'll use the time to criticize NATO for its perceived lack of support in the military operation.

The NATO Supreme Allied Commander, Pierre Vandier, argued that the alliance needs to quickly adapt to shocks and should overcome internal tensions together.

Admiral Pierre Vandier spoke with Bloomberg's Jonathan Farrow and Lisa Abramowitz from Norfolk, Virginia.

UK Prime Minister Keir Starmer says the UK must deepen its relationship with Europe as the US-Israeli war with Iran threatens to derail economies across the continent and fracture the transatlantic alliance.

Starmer spoke during a press conference at Downing Street in London.

A rally in U.S.

stocks accelerated as hopes grew that the war in the Middle East may be nearing a conclusion.

We check markets for you all day long here at Bloomberg.

Brent crude now 2% lower near $101 a barrel and WTI more than 1% lower near $100 a barrel.

The S&P 500 is up 1.1%.

NASDAQ up 1.7%.

The Dow up 9 tenths of a percent.

The 10-year Treasury yield at 4.3% and the 2-year yield at 3.79%.

Bitcoin is less than 1% higher, near $69,000.

We're also watching Nike shares that's fallen 14% after the company gave a gloomy outlook for the coming year with revenue expected to decline 2-4% in the current quarter.