1. The U.S. will not renew Russian & Iranian oil licenses and is enforcing a blockade, while Iran has suspended all petrochemical exports, escalating global energy supply tensions.
2. The S&P 500 index hit a new intraday record high above 7,000 points for the first time since the U.S.-Iran war began, boosted by major tech stock gains.
3. St. Louis Fed President Musalem stated that core inflation will likely remain near 3% through year-end, suggesting the current interest rate is appropriate 'for some time'.
Record S&P 500, Iran Supply Shocks, Fed Holds Firm
