U.S. stocks are hanging near their all-time high as financial markets catch a breath following two big days bolstered by hopes that the Israel-Iran war will not disrupt the global flow of crude oil. The S&P 500 fell 0.1% and is sitting just 0.9% below its all-time high. The Dow Jones Industrial Average lost 159 points, and the Nasdaq composite rose 0.2%. Oil prices stabilized after plunging by roughly $10 per barrel in the last two days. Stock indexes fell modestly in Europe after rising in Asia. Treasury yields held relatively steady in the bond market.
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The fragile ceasefire between Israel and Iran appears to be holding, and U.S. President Donald Trump has asserted that U.S. and Iranian officials will talk next week. The ceasefire gives rise to cautious hope for longer-term peace even as Tehran insisted Wednesday it will not give up its nuclear program. Iran has not acknowledged any talks taking place next week, and an Iranian official questioned whether the United States could be trusted after its weekend attack on Iranian nuclear sites. Questions remain about the extent of the damage to Iran's nuclear program, and the U.N. nuclear watchdog says it has written to Iran to discuss resuming inspections.
Mike was nearly the victim of a car break-in. When asked if he wanted to press charges, he struggled with the decision. Mike shares his thought process on showing mercy to the perpetrator.
Democratic Socialist Zohran Mamdani upset Andrew Cuomo and won the New York City Democrat Primary for Mayor. NYC Attorney Arthur Aidala joins Mike to discuss what the win means for New York.
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