US President Donald Trump speaks to reporters concerning the Israel-Iran battle, aboard Air Power One on June 24, 2025, whereas touring to attend the NATO’s Heads of State and Authorities summit in The Hague within the Netherlands.
Brendan Smialowski | Afp | Getty Photos
The ceasefire between Israel and Iran seems to be holding. In yesterday’s e-newsletter, we talked about how a blitzkrieg of missile-led diplomacy appeared to assist de-escalate tensions.
The flipside of that unusual path to a truce is that missiles, properly, are basically weapons. Mere hours after each international locations agreed to the ceasefire, Israel mentioned its longtime rival had fired missiles into its borders — an accusation which Tehran denied — and was making ready to “reply forcefully.” Most likely with extra missiles.
U.S. President Donald Trump — who reportedly brokered the ceasefire with Qatar’s Emir Sheikh Tamim bin Hamad Al Thani — expressed frustration with these developments.
“I am not proud of them. I am not proud of Iran both however I am actually sad if Israel goes out this morning,” Trump instructed a reporter pool en path to the NATO summit within the Netherlands.
His admonishments appeared to work. There may be now a fragile armistice between the 2 international locations.
Oil costs fell and U.S. shares jumped.
Reuters uploaded a photograph of Israeli residents enjoying frisbee on the seashore on June 24. Flights at Israel’s Ben Gurion Airport are resuming, and Iran’s airspace is partially open, in line with flight monitoring agency FlightRadar24, CNBC reported at round 3 a.m. Singapore time.
Three hours after that replace, NBC Information, citing three individuals conversant in the matter, reported that an preliminary evaluation from the U.S. Protection Intelligence Company discovered the American strikes on Iran’s nuclear websites on Saturday left “core items … nonetheless intact.”
And so it goes.
What it is advisable know immediately
Israel-Iran ceasefire holds, for now
The delicate ceasefire between Israel and Iran, introduced by Trump on Monday, seems to be holding. Israel on Tuesday mentioned it could honor the ceasefire as long as Iran does the identical. Earlier within the day, each international locations accused one another of violating the truce, and mentioned they have been able to retaliate, prompting Trump to say he is “not pleased” with them. Keep up to date on the Israel-Iran battle with CNBC’s reside weblog right here.
Markets soar as merchants wager on truce
U.S. shares jumped Tuesday on expectations that the Israel-Iran ceasefire would maintain. The S&P 500 gained 1.11% to place it simply 0.9% away from its 52-week excessive. The Dow Jones Industrial Common added 1.19% and the Nasdaq Composite climbed 1.43%. The Nasdaq-100 rose 1.53% to shut at an all-time excessive. Europe’s Stoxx 600 rose 1.11%. Journey shares have been among the finest performers, whereas oil and gasoline shares fell essentially the most.
Oil costs droop for a second day
Oil costs tumbled Tuesday, its second day of declines, because the market wager that the danger of a significant provide disruption had light. U.S. crude oil settled down 6% at $64.37 a barrel whereas the worldwide benchmark Brent fell 6.1%, to $67.14 throughout U.S. buying and selling. Costs closed 7% decrease on Monday. Earlier Tuesday, Trump mentioned China can preserve shopping for oil from Iran, in what appeared like an indication that the U.S. might soften its strain marketing campaign in opposition to Tehran.
Powell says Fed is ‘properly positioned to attend’
At a U.S. congressional listening to Tuesday, Federal Reserve Chair Jerome Powell mentioned the economic system was nonetheless robust. However he famous that inflation continues to be above the central financial institution’s goal of two%, and the Fed has an “obligation” to forestall tariffs from turning into “an ongoing inflation drawback.” Together, these issues make the Fed “properly positioned to attend” earlier than making a call on rates of interest.
U.S. is dedicated to NATO: Secretary-Common
There may be “complete dedication by the U.S. president and the U.S. senior management to NATO,” the navy alliance’s Secretary-Common Mark Rutte mentioned Tuesday morning, because the summit kicked off in The Hague, Netherlands. However America expects Europe and Canada to spend as a lot because the U.S. does on protection. Forward of the summit, members agreed to improve protection spending to five% of gross home product by 2035.
[PRO] Not ‘bullish sufficient’ on rally: HSBC
The S&P 500′s rally off its April lows has introduced it again to roughly 1% off its file excessive in a really brief time. It is an advance that has perplexed many buyers, who fear that one other pullback is on the horizon. However Max Kettner, chief multi-asset strategist at HSBC, mentioned he worries he is not “bullish sufficient” on the present rally.
And eventually…
Footage from the semi-official Tasnim information company present the Stena Impero being seized and detained between July 19 and July 21, 2019 close to strait of Hormuz, Iran.
Contributor | Getty Photos Information | Getty Photos
Strait of Hormuz GPS jamming stays main safety difficulty, tanker CEO says
Regardless of a tentative ceasefire between Israel and Iran on Tuesday, safety points within the Strait of Hormuz proceed for shipowners.
In response to Angeliki Frangou, a fourth-generation shipowner and chairman and CEO of Greece-based Navios Maritime Companions, which owns and operates dry cargo ships and tankers, vessels within the Strait of Hormuz are nonetheless being threatened by steady GPS sign blocking.
“We have now had about 20% much less passage of vessels by means of the Strait of Hormuz, and vessels are ready outdoors,” Frangou instructed CNBC.
“You might be listening to lots from the liner [ocean shipping] corporations that they’re transiting solely throughout daytime due to the jamming of GPS alerts of vessels. They do not wish to cross through the nighttime as a result of they discover it harmful. So it is a very fluid scenario,” Frangou mentioned.
