1. Iran activated air defenses on Qeshm Island near the Strait of Hormuz after detecting drones, increasing geopolitical tension and driving up oil and gold prices.
2. Kevin Warsh will reportedly be sworn in as the new Fed Chair by Trump on Friday, signaling a potential major shift in U.S. monetary policy.
3. Meta plans global layoffs in three batches on May 20th and is restructuring teams to focus on AI initiatives, indicating a major strategic shift.
Iran Tensions Spike Oil, Warsh Tapped for Fed Chair, Meta Pivots to AI
