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US AND GULF ARAB NATIONS ARE DRAFTING A UN SECURITY COUNCIL RESOLUTION DESIGNED TO CONDEMN IRAN FOR BLOCKING THE STRAIT OF HORMUZ IN RESPONSE TO A US-ISRAELI BOMBING CAMPAIGN, US AMBASSADOR TO THE UN MIKE WALTZ SAYS

2026-05-05

US AND GULF ARAB NATIONS ARE DRAFTING A UN SECURITY COUNCIL RESOLUTION DESIGNED TO CONDEMN IRAN FOR BLOCKING THE STRAIT OF HORMUZ IN RESPONSE TO A US-ISRAELI BOMBING CAMPAIGN, US AMBASSADOR TO THE UN MIKE WALTZ SAYS

Other News
2026-05-05

General Brad Cooper, Commander of U.S. Central Command: The two objectives of the U.S. blockade are to ensure security and to clear the Strait of Hormuz waterway.

General Brad Cooper, Commander of U.S. Central Command: The two objectives of the U.S. blockade are to ensure security and to clear the Strait of Hormuz waterway.
2026-05-05

US equities retreated from recent highs as escalating Middle East tensions overshadowed optimism from strong quarterly earnings. The Nasdaq Composite fell about 0.3%, the S&P 500 slipped 0.5%, and the Dow Jones Industrial Average dropped 1.1%, sheddi

US equities retreated from recent highs as escalating Middle East tensions overshadowed optimism from strong quarterly earnings. The Nasdaq Composite fell about 0.3%, the S&P 500 slipped 0.5%, and the Dow Jones Industrial Average dropped 1.1%, shedding 564 points. Shares of logistics names including UPS and FedEx declined after Amazon announced plans to open its freight and distribution network to external businesses. Oil surged on reports of Iranian strikes in the Strait of Hormuz and missile intercepts in the UAE, with Brent crude near $114 and WTI climbing above $106. The UAE confirmed an Abu Dhabi National Oil Company carrier and the Fujairah petroleum export complex were targeted, while US Central Command denied Iranian media reports of attacks on American warships. President Trump's "Project Freedom" announcement to assist trapped cargo ships further heightens regional uncertainty. Investors also digest stronger-than-expected March factory orders—up 1.5% versus 0.5% estimates—driven by AI-related electronics demand, and await earnings from semiconductor leaders Advanced Micro Devices, Arm Holdings, and Lattice Semiconductor, alongside results from Palantir and Paramount Skydance.
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