The US and Iran's rival blockades of the Strait of Hormuz have become a "test of wills", says Lyse Doucet.
Andy Burnham is set to become the next Labour leader and UK Prime Minister after securing 322 nominations from Labour MPs, just one shy of the number needed to run unopposed. If no other candidates emerge by Wednesday, Burnham will be declared leader next week and take office on July 20.
Federal Reserve policymakers are divided on future interest rate hikes, with traders on Kalshi showing a slight majority (54%) expecting a hike this year. The Fed's June meeting minutes revealed differing views among participants regarding the appropriate rate level by year-end.
Charley Hull shot a joint-lowest first-round 66 at the Evian Championship, placing her third at five under par. She laughed off suggestions her caddie's ice cream helped her performance, despite sweltering conditions. World number one Nelly Korda struggled, finishing day one in 99th place.
Andy Burnham is set to become the next Labour leader and potentially Prime Minister after securing 322 nominations from Labour MPs. If no other candidates emerge, he will be declared leader next week and take office on July 20th.
Traders on prediction market platform Kalshi anticipate elevated gas prices for an extended period due to renewed US-Iran strikes and uncertainty in the Strait of Hormuz. Odds for prices above $3.50 on election day have risen significantly.
A significant options trade in the Russell 2000 IWM ETF, involving a $20 million strangle, suggests small-cap stocks may lead the next market move. This comes as tech stocks show signs of slowing momentum, with the Russell 2000 outperforming the Nasdaq-100 this year.
