Iran Threatens US Bases, Stocks Hit Record Highs, More
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Hello, I'm Stephen Carroll. I'm in Brussels, where many of Europe's biggest decisions get made.
And I'm Caroline Hepke in London. We're the hosts of the Bloomberg Daybreak Europe podcast.
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News when you want it. With Bloomberg News Now, I'm Doug Krisner. Tensions between the U.S. and Iran have spiked after their military forces clashed overnight near the Strait of Hormuz. Now, the U.S. said it conducted self-defense strikes in southern Iran late Monday. Meantime, Iran's foreign ministry condemned the attacks as a violation of a ceasefire. And at the same time, Iran's supreme leader, Moshe Taba Khamenei, said the U.S. military bases in the Middle East will no longer be safe after the war. Now, at the moment, security in the Strait of Hormuz remains unclear. Former NATO Supreme Allied Commander James Trevita says the strait needs to be reopened as a part of the deal.
I've sailed that strait close to 100 times in command and as a junior officer. It's tough navigation when you're. before you get into drones attacking you and sea mines. So there's going to be a lot of work to do to get it open, but it has to be open.
That is retired Admiral James Trevitas, now a columnist for Bloomberg Opinion. Incidentally, Arab states, including Saudi Arabia, the UAE and Qatar, have urged President Trump to continue with diplomacy. Israel carried out airstrikes in Gaza City today, and hospital officials say at least three people were killed, 12 others injured. Israeli Prime Minister Benjamin Netanyahu said the strikes targeted the new leader of Hamas's military wing, Mohammad Odeh. The equity market hit a record high today. We had the S&P 500 adding six-tenths of one percent to an all-time high 7519, with chipmakers leading the charge. Shares in Micron Technology jumped more than 19 percent. That was after UBS Group predicted the chipmaker's market cap will more than double over the next 12 months.
Now, over the past 12 months, Micron shares have soared nearly
860 percent fueled by demand for those ai memory chips here is yurian timmer director of global macro at fidelity the markets have been riding sort of both tails right we've been in a world where uh the middle of the bell curve distribution really hasn't been uh doing very much and so it's the left tail of Higher rates coming from higher inflation, coming from a long-term bottleneck in the supply of oil, which, of course, has been a big theme in recent weeks. And then the right tail, of course, is the big capex boom, the AI boom. Earnings have just gone vertical.
Yuri and Tim are there. He is director of global macro at Fidelity, speaking earlier to Bloomberg. President Trump had a physical exam today at Walter Reed National Military Medical Center, and in a post on Truth Social, Trump said he's in good health, but he provided no detail on the results of his exam. This was Trump's fourth public medical visit since the beginning of his second term. Here is Bloomberg's Jeff Mason.
It takes a whole different level or generates a whole different level of scrutiny when you're as old as President Biden was and as President Trump is. And he's just about to turn 80 next month. So there's certainly a lot of interest in his physical health, his mental health.
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