US and Iran Clash Near Hormuz, Court Blocks Alabama Map, 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 Nathan Hager. Stocks are aiming for new records once again, even after the latest fighting between the U.S. and Iran. Bloomberg's Tyler Kendall has more from Washington.
CENTCOM confirms that it conducted defensive military strikes near Iran's largest... Naval base hitting multiple targets, including military launch sites, as well as these boats that were laying mines. And in response, we saw Iran engage U.S. drones and an F-35 fighter jet that entered into its airspace and is now threatening that we could see further retaliation for what it says was a U.S. violation of the ceasefire.
Despite all this, Bloomberg's Tyler Kendall reports President Trump's touting progress on a deal to extend the ceasefire and reopen the Strait of Hormuz. Former NATO Supreme Allied Commander James Stavridis says the Strait will reopen because it has to.
We cannot, we the world, we the global economy, we the United States and our allies, we can't simply turn this thing over to the Iranians. and have them charge us an IA toll. No way.
Retired Admiral James Stavridis is now a columnist for Bloomberg Opinion. He was a guest on Bloomberg Surveillance. Secretary of State Marco Rubio says an interim deal could take two to three days. He says there's been a lot of back and forth on the wording. The New York Post is reporting that President Trump will hold a cabinet meeting at Camp David tomorrow as talks head near crunch time, though the report says that could change depending on the weather. Right now, stocks are moving higher on hopes for a deal. The S&P 500 is up eight-tenths of one percent, trading well above 7,500. The Dow Jones Industrial Average is up nearly a tenth of one percent above the 50,000 level. And the Nasdaq Composite is surging by 1.4 percent, up more than 350 points.
Right now, President Trump's at Walter Reed National Military Medical Center for his fourth doctor's visit since returning to office. The White House has said it'll involve routine medical and dental assessments. It's the president's third known visit to the dentist in the last year. The president turns 80 next month and has shown signs of aging, though he's touted an energetic image on the stump. There's a new development in the nationwide redistricting fight ahead of the midterms. A three-judge federal panel has temporarily blocked Alabama from using a new congressional map that could give Republicans an edge in November. Lawyers representing black voters had pushed for the hold, arguing the same judges found the state's map intentionally discriminated against them in 2023.
This order requires Alabama to use a court-ordered map that was used in the 2024 election. President Trump's hold on the Republican base faces its biggest test today in Texas. The drawn-out Senate primary between John Cornyn and Ken Paxton heads for a runoff. Bloomberg Government's Kate Ackley has more from Washington.
Election day for this runoff is today. So really, voters now get to make the decision.
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