Iran May Let EU Clear Mines, Chipotle Takes Jalapeños off Menu, More
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news when you want it with Bloomberg News Now. I'm Amy Morris. Iran is considering allowing European nations to remove mines from the Strait of Hormuz that would be a potential climb down that could form part of a deal to normalize shipping in the Strait. Treasury Secretary Scott Besant says he expects a deal soon.
I think there is a chance we may have a deal today or tomorrow to open the Strait and move towards a more normalized position in this conflict.
When asked whether the deal will include tolls, Besant told CNBC he thought there would be freedom of movement, but did not go into specifics. Oil slumped on Besant's comments. WTI has now dropped to less than $76 a barrel, and Brent crude now less than $80 a barrel. Brent has not been that low since mid-July. Chipotle is taking jalapenos off their menus in multiple locations in Minnesota after learning the peppers could be linked to a salmonella outbreak in the state. The chain removed the suspect jalapenos from all of its stores that received the product while assisting with a probe of the outbreak by Minnesota health officials. Shares of Chipotle are off-session lows now, about 5 percent lower.
The Justice Department has sent election monitors to four Michigan states as the state holds a closely watched Senate primary. Beta Partners co-founder Henrietta Trey says a lot of issues are driving voters to the polls.
I think tariffs are a huge story. I think the auto sector is a huge story. And really those auto manufacturers have to look at the fact that the president's agenda that they voted for has caused them to be in Michigan, the state with one of the highest unemployment rates in the nation.
Henrietta Trace of Veda Partners was on Bloomberg surveillance. Primary elections are also underway in Virginia, Kansas, Missouri and Washington state. And that possible deal with Iran is pushing stocks to all time highs. And we check markets for you all day long here at Bloomberg. The S&P 500 up 1.9 percent. NASDAQ up 2.6 percent.
Will Iran allow European teams to clear mines in the Strait of Hormuz?
The Dow is up just about 2 percent. So is the Russell 2000 index. The 10-year Treasury yield at 4.62% and the two-year yield at 4.19%. The Philadelphia Semiconductor Index jumped nearly 7%, led by Broadcom, which is more than 7% higher. Palantir Technology shares jumped by the most in almost 16 months. After that, company boosted full-year revenue and income forecasts and described commercial demand for its data analytics tools as otherworldly. Shares of Palantir now 29% higher. And the Trump administration is hosting AI companies at the White House to discuss a new U.S. framework for conducting voluntary safety tests of AI models. OpenAI, Google and Anthropic are all among the AI developers planning to attend.
How did US Treasury Secretary comment affect oil prices and markets?
Anthropic, meanwhile, struck a deal for computing capacity from Volta Infra Holdings. It's a relatively new infrastructure startup to keep pace with demand for its products. The deal is valued at $10 billion and the agreement runs for six years. Polymarket is seeking to raise capital at a valuation of more than $20 billion. Sources tell Bloomberg the prediction market's platform is in early talks with prospective investors to raise about $1 billion. And if it closes the round, Polymarket will be worth more than twice as much as it was in this past October. Advanced Micro Devices reports earnings after today's close, offering fresh insights on the state of the personal computer market and the company's push into AI infrastructure.
AMD shares are nearly 9% higher. Paramount's Guidance also set to report second quarter financial results after the closing bell as it deals with an antitrust lawsuit that challenges its merger with Warner Brothers Discovery.
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