Amy Morris

Admiral Cooper also told the committee that recent reports about Iran retaining 70 percent of its missile capability are not accurate.

Retail sales in the U.S.

rose at a slower pace in April, suggesting high gas prices are prompting some consumers to temper their spending at other merchants.

More on this with Bloomberg's Michael McKee.

Bloomberg's Mike McKee explains that department store money likely went into online shopping.

And we do check markets for you here all day long here at Bloomberg.

The S&P 500 up 0.8%.

NASDAQ up 1%.

The Dow up 0.8%.

The 10-year Treasury yield at 4.46%.

And the 2-year yield at 3.99%.

WTI crude now topping $101 a barrel.

Brent crude now topping $106 a barrel.

Ford shares about 5% higher.

The automaker shares continue to rise after a Morgan Stanley note

highlighted Ford's energy storage business and potential tie-ups with hyperscalers.

Cisco shares jumped after the company delivered a better-than-anticipated sales forecast and announced plans to cut thousands of jobs to focus on the fast-growing AI market, shares of Cisco jumping 13%.

NVIDIA shares extended a 20% rally over the past seven days as investors plow into the chipmaker's profiting from a flood of investment spending on AI.

NVIDIA shares nearly 5% higher.

Now that the Senate has narrowly confirmed Kevin Warsh as chair of the Fed, Warsh is expected to be sworn in soon after outgoing chair Jay Powell's term expires tomorrow.