Daniel Bach

It's Friday, April 10th.

I'm Daniel Bach for The Wall Street Journal, filling in for Luke Vargas.

And here's the AM edition of What's News, the top headlines and business stories moving your world today.

The Trump administration is racing to contain Israel's expanding war in Lebanon as the U.S.

prepares for high-stakes talks with Iran this weekend.

In a video statement addressing Israelis, Prime Minister Benjamin Netanyahu said direct negotiations with Lebanon would begin toward a lasting peace and disarming Iran-backed Hezbollah militants.

But he also said Israel would continue striking Lebanon with the full force of its military until security is restored in northern Israel.

That message came after a phone call with President Trump yesterday.

A U.S.

official told the journal Trump was concerned that the fighting could undermine the ceasefire and efforts to reopen the Strait of Hormuz.

Meanwhile, President Trump has warned Iran against collecting tolls from ships transiting the vital waterway, while also suggesting tolls could be a joint venture between Iran and the U.S.

Tehran has said it is charging some ships $2 million.

Only eight ships carrying Iranian cargoes got through yesterday.

Before the war, it was about 135 each day.

And while consumers have been feeling the effects of the straits closure, global economics correspondent Tom Fairless says a toll wouldn't have as broad an impact.

But while the economics suggest a toll in the Strait of Hormuz could be part of a peace deal, Tom says the geopolitical consequences might be too big.

The reopening of the Strait of Hormuz is expected to be top of the agenda when Iran and the US begin peace talks in Pakistan this weekend.

We are exclusively reporting that the White House has warned staff about placing bets on the Iran war in futures markets.

That in an email from the White House Management Office, which came the day after President Trump announced a sudden pause in strikes on Iran.

A flurry of trading activity kicked off about 15 minutes before Trump posted the news on social media, with Dow Jones market data showing that more than $760 million worth of oil futures contracts changed hands in less than two minutes.