HSBC cuts IBM (IBM.N) PT to $175 from $191.

Treasury Secretary Bessent on the 15th chaired an internal meeting of the Financial Stability Oversight Council. The council was briefed on a Treasury‑led interagency geopolitical‑risk tabletop exercise aimed at advancing economic‑security preparedness, and received updates from its AI working group and on four public‑private roundtables under an AI Innovation Series co‑hosted by the council and Treasury. Members reviewed the quarterly Financial Stability Monitoring Report — which discussed supply‑chain risks, AI’s potential impacts on labor and capital markets, and cyber security — heard planning for the 2026 annual report, and voted to approve minutes from the May 6 meeting.

Wall Street Journal reports President Trump is considering expanded military action against Iran, including intensified airstrikes, deploying ground forces to seize islands near the Strait of Hormuz, and strikes on nuclear-related facilities, but no final decision has been made.