Ed Ludlow

Coming up, U.S.

Defense Secretary Pete Hegseth gives an update on Iran as we near the end of week two of the war.

Plus, Adobe CEO Shantanu Narayan will resign amid skepticism about the company's ability to thrive in the AI era.

And the S&P is considering changes to rules governing how companies join its index, which could fast-track SpaceX's entry after an IPO.

Let's get to markets, and this is what the financial markets look like this Friday.

It's a kind of continuation of the broader theme of the week.

There is slight pressure on equities.

The Nasdaq 100 is modestly lower, basically flat.

And you see Brent crude, the global benchmark for oil above $100 a barrel with a micro focus of what's happening in the Middle East and the Gulf.

There has been some other news flow and earnings considerations around that when it comes to the tech sector.

We can get to those later in the hour.

But right now it is very much the macro and what is happening.

With the war in Iran, President Trump and Iran's leadership are both striking a defiant tone as the war in Iran is in its second week, with Trump vowing new strikes with, quote, unparalleled firepower.

U.S.

Defense Secretary Pete Hegseth has also weighed in, saying Iran's new supreme leader is likely wounded following recent attacks.

Here with all of the latest is Bloomberg's Washington correspondent, Tyler Kendall.

What do we need to know?

That the United States is decimating the radical Iranian regime's military in a way the world has never seen before.

never before has a modern, capable military, which Iran used to have, been so quickly destroyed and made combat ineffective, devastated.

Bloomberg's Tyler Kendall, thank you.