Reserve Bank of Australia Governor Bullock said the bank expects inflation to rise further in the near term.

Lebanese broadcaster Al-Mayadeen reported Iran’s foreign minister said Iran would respond decisively if Israel attacks Beirut.

Across the Fed's 12 districts, employment was essentially unchanged in 11 districts and slightly higher in one. Several districts reported the strongest hiring in manufacturing, driven by defense-related work and rising data-center demand. Wage growth remained modest-to-moderate and broadly in line with inflation, though districts said they are making more frequent wage and cost-of-living adjustments to offset rising fuel and other household costs. Most districts described cautious hiring and cautious layoffs; workers are increasingly reluctant to change jobs amid economic uncertainty, so hiring is concentrated on critical roles and replacing turnover. Demand in professional services was mixed, reflecting technology and operational shifts.