Hello, this is Dylan Butts writing to you from Singapore. Welcome to the latest edition of the Daily Open newsletter.

Traders in Asia are evaluating another round of mixed signals from the Middle East, as the U.S.-Iran war continues into its fourth month.

In an interview with CNBC, Israeli Prime Minister Benjamin Netanyahu said Israel and the U.S. were ready to return to military action against Iran, if needed.

The remarks pushed oil prices higher and stock futures down, even as progress was reported on a ceasefire between Israel and Lebanon and the U.S. House of Representatives voted to block further American military involvement.

In an exclusive interview with CNBC aired Wednesday, Netanyahu said that Trump had warned Iran of “a full scale return to military action,” if necessary, emphasizing that it would ultimately be the U.S. president’s decision.

Netanyahu, however, noted that there had been tactical disagreements between the U.S. and Israel, though they were largely on the same page on their Middle East strategy. 

The comments appeared to spook oil traders, with Brent and WTI crude both moving higher on fears of renewed escalation, though crude remains below the psychologically important $100-per-barrel level. 

S&P 500 futures were pointing lower after the benchmark snapped a nine-day winning streak during the trading day. 

In a more positive development for a peace deal, Israel and Lebanon have agreed to implement a ceasefire. Asia markets, however, opened lower Thursday as Mideast worries keep investors on edge.

Signaling diminishing appetite for the conflict in Washington, the U.S. House voted in favor of a war powers measure that would direct an end to U.S. military involvement in the Iran conflict unless Congress authorizes continued action.

While the bipartisan vote underscores growing congressional pushback over the scope and duration of the Iran campaign, the measure still needs to pass the Senate, and any final legislation could face a presidential veto.

Trump on Wednesday suggested that Iran had agreed not to have nuclear weapons, while adding that “they can change their mind.” Iran’s Foreign Ministry declined to comment on Trump’s interview when contacted by CNBC. A government official, who was not authorized to speak publicly, told CNBC Trump’s words were “misleading.”

The comments came after the The Kuwait International Airport was struck by Iran, a day after the U.S. Central Command launched “self-defense strikes” on Qeshm Island in the Persian Gulf. 

Corporate America delivered its own set of headlines on Wednesday, pouring cold water on Wall Street’s recent tech-led rally. 

Broadcom shares plunged nearly 14% after-hours after the company reported weaker-than-expected software revenue and didn’t raise its full-year AI chip sales target. CrowdStrike…

Hello, this is Dylan Butts writing to you from Singapore. Welcome to today’s edition of the Daily Open newsletter.

After weeks of paused action in the U.S.-Iran conflict, the two countries are once again trading airstrikes, complicating hopes for a permanent resolution to a war that has stained global oil supplies. 

However, Wall Street hasn’t flinched. The S&P 500 and Nasdaq Composite both closed at record highs yesterday, lifted by an unrelenting surge in artificial-intelligence names that has overshadowed the latest geopolitical jitters.

The AI trade has shown few signs of cooling this earnings season. 

Shares of Snowflake surged 36% on Thursday after the cloud-data specialist delivered blockbuster results and highlighted explosive demand for its AI-powered platforms, lifting software stocks more broadly. 

Meanwhile, Dell Technologies was right behind, jumping 31% after reporting its strongest sales growth since 2018. The company also secured a massive Pentagon contract on Wednesday, adding to investor excitement for Dell’s growing AI server business. 

In private markets, Anthropic leapfrogged OpenAI to become the most valuable AI startup in Silicon Valley, closing in on a $1 trillion valuation in its latest funding round as more LLM companies look to go public this year. 

Boosted by the rally in the technology sector, all three major averages finished at new closing records on Thursday. That was despite retailers like Gap and American Eagle posting disappointing results in the face of growing inflation concerns. 

Stocks had risen to their session highs after Axios reported that U.S. and Iranian negotiators agreed on a 60-day memorandum of understanding to extend the ceasefire, with a White House official later confirming to CNBC that the U.S. and Iran had “mostly agreed” to the terms.

But just a few hours later, Iranian state media outlet Fars reported that the country’s armed forces had fired missiles at unidentified targets late Thursday local time.

The overnight headlines from the Middle East come amid traders’ fading optimism for a full U.S.-Iran nuclear deal this year despite earlier reports of progress. U.S. officials have said that if Iran fails to meet nuclear demands during negotiations, President Donald Trump will have economic or military options on the table. 

The conflict and uncertainty surrounding it have continued to ripple through energy markets, with Exxon delivering a warning Thursday that oil inventories are on track to reach dangerously low levels in the coming weeks, forcing prices to spike and curbing demand.

That comes as broader inflation continues to hit consumer wallets, with recent data showing that the U.S. personal consumption expenditures price index jumped 3.8% in the 12 months through April. 

While that data…

Tax and finance software maker Intuit said Wednesday that it’s cutting 17% of its full-time workforce, the latest tech company to announce a mass downsizing during the artificial intelligence boom. Shares tumbled 11% in extended trading.

The decision will affect over 3,000 people, based on the company’s last reported employee count of 18,200. The restructuring will trigger $300 million to $340 million in charges, mostly in the current quarter, Intuit said.

“As we look ahead, we are further scaling our growth engines and architecting an organization that operates with greater velocity to deliver durable long-term growth,” Intuit CEO Sasan Goodarzi said in a statement.

Intuit, which makes QuickBooks and TurboTax, has been hammered by investors this year, alongside a broader downdraft in software, as Wall Street fears that AI will displace some products and services from established companies. Intuit shares are down more than 40% this year, while the S&P 500 has gained roughly 8%.

ZoomInfo and content delivery network provider Cloudflare announced earlier this month that they will each will trim 20% of headcount. Cisco said last week that it’s cutting its workforce this quarter by fewer than 4,000 jobs, representing less than 5% of total employees. On Wednesday Meta moved forward with plans to lay off 8,000 people.

In addition to announcing layoffs, Intuit reported earnings on Wednesday. The company finished the fiscal third quarter with $12.80 in adjusted earnings per share on $8.56 billion in revenue for the period, which ended on April 30, after the tax filing deadline. Analysts polled by LSEG were looking for $12.57 per share and $8.61 billion in revenue.

Revenue grew 10% from a year ago, the slowest rate of expansion for any period since 2024. Net income rose about 9% to $3.06 billion.

Intuit lifted its forecast for the 2026 fiscal year. The company now expects $23.80 to $23.85 in adjusted earnings per share, with $21.34 billion to $21.37 billion in revenue. The LSEG consensus called for $23.21 per share in earnings and $21.23 billion in revenue.

“We believe we can serve more customers and deliver breakthrough products that fuel our customers’ success by reducing complexity and simplifying our structure to become a faster, leaner, and more focused company,” Goodarzi wrote in a memo to employees.

The company has too many management layers, and it will bring teams together physically to increase collaboration, with offices closing in Reno, Nevada, and Woodland Hills, California, Goodarzi told employees. Intuit is eliminating redundant roles after integrating TurboTax and Credit Karma, and it will pull back on its Mailchimp operations, Goodarzi wrote.

WATCH: Intuit CEO Sasan Goodarzi on canceled insider stock sales

Hello, this is Dylan Butts writing to you from Singapore. Welcome to another edition of the CNBC Daily Open.

As major U.S. stock benchmarks fell, and bonds saw a sell-off, President Donald Trump said he had paused his plan to attack Iran.

Following the decision to halt military action, oil was lower, but the broader energy shock continues to ripple globally, amid continued warnings of an extended energy crunch.

Enjoy!

Iran was back in the headlines Monday, with Trump saying he would postpone a “scheduled attack of Iran,” following requests from leaders in Saudi Arabia, the UAE, and Qatar, while threatening a “large scale assault of Iran, on a moment’s notice.”

International benchmark Brent crude futures for July delivery fell more than 2% to trade at $109.15 per barrel on Tuesday. The West Texas Intermediate futures declined 1.27% to $107.28 per barrel.

But the broader energy supply worries remain intact as the critical energy waterway, the Strait of Hormuz, continues to be blockaded by Iran.

Commodity analysts and strategists have sounded alarms that European oil shortages could emerge within weeks as inventories deplete as a result of disruptions to the Strait of Hormuz. Global stockpiles may not recover until 2027, with major implications for prices and supply chains, they warned.

That has also resulted in pressure on airlines, with Ryanair’s CFO warning of a potential “armageddon” jet fuel crunch, saying weaker European carriers may not survive. 

Heightening global inflation fears have also led to a rout in global bond markets, with the 10-year U.S. Treasury yields reaching their highest level in a year on Monday and Japan’s 30-year government bond yield rising to a record high. 

Easing those inflation fears will be on the agenda for the Trump-nominated Fed Chair Kevin Warsh, who, a White House official told CNBC, will be sworn in on Friday. 

Meanwhile, U.S. markets started the trading week down, with the S&P 500 posting back-to-back losses amid a tech sector sell-off. However, Asia-Pacific markets opened broadly higher Tuesday as oil prices, while elevated, eased.

Amid the tech sell-off in the U.S., Meta is expected to begin a round of layoffs this week, reflecting the impacts of AI investment and efficiency drives inside the American tech giant.

Also in tech news, Tesla and SpaceX CEO Elon Musk lost his court battle against OpenAI and its CEO Sam Altman over claims they allegedly violated an agreement to run their artificial intelligence venture strictly as a charitable nonprofit.

A federal jury in Oakland, California, determined that Musk waited too long to launch the suit, with Musk and his attorneys saying they would appeal the verdict.  

Investors will continue to monitor geopolitical developments, with Russian leader…

Hello, this is Dylan writing to you from Singapore. Welcome to another edition of CNBC’s Daily Open.

Wall Street was riding high as the first day of the U.S.-China summit raised hopes for a positive relationship reset and agreements from both sides.

Markets will be closely watching the second and final day of talks, to gauge how the developments at the summit ripple through trade, tech and energy.

U.S. stocks powered higher Thursday, with the S&P 500 posting its first close above 7,500, and the Dow Jones Industrial Average jumping 370 points to recapture the 50,000 level.

The performance was fueled by optimism around President Donald Trump’s China visit, as well as strong earnings from Cisco Systems. 

Day one of the high-stakes summit in Beijing saw Chinese President Xi Jinping and Trump agreeing to develop a “constructive China-U.S. relationship of strategic stability.” 

The two sides also discussed global conflicts, with Trump and Xi aligning on keeping the Strait of Hormuz open to restore energy flows through the critical waterway, according to a White House official.

Xi also met with American CEOs traveling with Trump, including Elon Musk and Tim Cook, and told them that China will “open wider” to foreign businesses.

In regard to commercial deals struck so far, Trump told Fox News that China will order 200 Boeing jets in a major win for the U.S. planemaker.

However, there was also some tough talk at the summit, with Xi warning Washington that mishandling Taiwan would put the U.S.-China relationship in “great jeopardy.” Beijing considers Taiwan, a democratically self-ruled island, part of its territory, while the island’s ruling party rejects that claim.

The summit is set to end today, and Trump has reportedly invited ⁠Xi ​Jinping to ​the White House ​for ​a visit on ‌Sept. ⁠24.

The tech world has also been exciting markets this week, with shares of AI chipmaker Cerebras skyrocketing 68% in their Nasdaq debut, lifting the company’s market cap to $95 billion and highlighting the ongoing hunger for high-growth AI names. 

In other headlines, SpaceX’s IPO prospectus could drop as soon as next week in what’s expected to be a record share sale, sources told CNBC. 

— Dylan Butts  

Chinese parts are already in U.S. cars as lawmakers warn Trump against China auto deal

As President Donald Trump meets Chinese President Xi Jinping this week, lawmakers in both parties are warning the White House not to use the U.S. auto market as a bargaining chip in any deal with Beijing.

The warning stems in part from Trump’s January suggestion that he could welcome Chinese automakers if they built vehicles in the U.S. with American workers — remarks that were later walked back but still rattled auto-state lawmakers, unions and…

Hello, this is Dylan Butts writing to you from Singapore. Welcome to another edition of CNBC’s Daily Open.

President Donald Trump has landed in Beijing, accompanied by a high-profile group of American CEOs, setting the stage for crucial meetings with Chinese President Xi Jinping amid escalating geopolitical and economic tensions. 

Markets across Asia-Pacific are watching closely for any breakthroughs on trade, technology, and regional security.

Enjoy!

President Trump was received on the tarmac in China by a brass band and flag-wavers, who performed as he descended the steps of Air Force One.

The President is being accompanied on the trip by a group of executives from some of America’s most valuable companies, including Tesla CEO Elon Musk and Nvidia CEO Jensen Huang. 

Trump and Xi are expected to cover tariffs, rare earths, artificial intelligence, the Iran war and Taiwan. Experts anticipate that they may announce large Chinese orders for American planes and soybeans when the meetings conclude. 

Asia-Pacific markets traded mixed on Thursday in the leadup to the meeting. In the U.S., futures were little changed. 

Overnight on Wall Street, the S&P 500 rose to a new all-time high as traders’ enthusiasm for the technology trade overshadowed another hotter-than-expected inflation report. 

U.S. wholesale inflation data delivered a fresh jolt on Wednesday, with prices surging 6% year-over-year in April, the sharpest annual gain since 2022. The hotter-than-expected reading adds pressure on Federal Reserve leadership and complicates the economic backdrop as Trump engages in high-level diplomacy.

In a key development for U.S. monetary policy, Kevin Warsh has secured Senate confirmation as the next chair of the Fed. His leadership will be immediately tested by sticky inflation and potential rate implications from global energy shocks.

Meanwhile, the closure of the Strait of Hormuz has continued to hurt global oil flows, with OPEC reporting a 30% since the start of the Iran war in late February. It also warned of significant risks to demand growth this year.

— Dylan Butts 

Japan’s global defense business may be on the cusp of a big breakout

Japan easing decades-old restrictions on arms exports opens a big opportunity for the country’s defense industry in a world increasingly hungry for weapons.

The global conditions seem favorable. On April 27, SIPRI reported that global military spending hit a record of $2.89 trillion in 2025, the 11th straight year of increase.

Countries are “desperate” to acquire weapons such as air defense missiles, artillery shells and armored vehicles, areas where Japan Inc. might expand its market share in the international defense economy, Hirohito Ogi,…

Hello, this is Dylan Butts writing to you from Singapore. Welcome to another edition of CNBC’s Daily Open.

U.S. President Donald Trump has extended the Iran ceasefire deadline, which seems to have added a fresh layer of uncertainty to the Mideast conflict as Tehran signals reluctance to engage in diplomatic efforts.

Separately, don’t miss coverage of CNBC’s CONVERGE LIVE event that kicks off in the Lion City, featuring conversations on the future of global investment, leadership, technology and sustainability.

Prominent participants headlining day one include Singapore’s deputy prime minister Gan Kim Yong, CEO of Capital Group Mike Gitlin and Tan Su Shan, CEO of Southeast Asia’s largest bank, DBS.

Enjoy!

U.S. President Donald Trump is hoping that some of the firms that had to pay his tariffs will adhere to a ‘no take back’ policy.

Speaking to CNBC’s “Squawk Box” on Tuesday, Trump said he would gratefully “remember” U.S. companies that do not seek refunds for the tariffs he imposed, which were ruled illegal by the country’s Supreme Court.

Several large companies, among them Apple and Amazon, have yet to file requests for refunds for the tariffs they paid.

Trump’s comments came a day after the U.S. Customs and Border Protection opened a portal for importers to seek more than $160 billion in potential refunds.

On the geopolitical front: Trump extended his two-week U.S. ceasefire with Iran, saying the extension was warranted due to Tehran’s government being “seriously fractured.” Trump told CNBC he expects the U.S. to make a ‘great deal‘ with Iran. 

Stock futures of major U.S. indexes rose after Trump extended the ceasefire, after markets closed lower Tuesday, as crude oil prices gained.

Asia-Pacific markets, however, opened broadly lower Wednesday as concerns grow that the Middle East conflict could drag on. 

Supply chain issues stemming from the conflict in the Middle East have continued to rear their heads, with United Airlines slashing its 2026 earnings outlook Tuesday as it grapples with a surge in jet fuel prices. 

In tech news, SpaceX said it has struck a deal with AI startup Cursor, obtaining the right to acquire the company for $60 billion later this year, or to pay $10 billion.

— Dylan Butts 

A timeline of how the Iran war shook oil prices — and what comes next 

Oil markets have lurched from panic to relief and back again since the outbreak of war in the Middle East, with markets bracing for further volatility.

Prices surged more than 55% since the start of the war, with Brent crude jumping from around $72 a barrel on February 27 to nearly $120 at its peak, as fears mounted over supply disruptions through the Strait of Hormuz. Brent crude jumped 51% in March, one of the largest one‑month oil price surges on record.

Headlines about the…

Hello, this is Dylan Butts writing to you from Singapore. Welcome to another edition of CNBC’s Daily Open.

Markets appear to think a deal between Washington and Tehran is within reach.

Stocks extended their rally again on Tuesday, with the S&P 500 pushing toward record territory as investors bet that U.S.–Iran negotiations are gaining traction. 

But that optimism might be running ahead of reality. Talks have already stalled once, and instead of a full reopening, the Strait of Hormuz is now under a new U.S. blockade.

The stock market has continued rallying on hopes that a deal between the U.S. and Iran is taking shape, with a White House official telling CNBC on Tuesday that a second round of negotiations between Washington and Tehran is under discussion.

The S&P 500 is nearing its all-time high, with Tuesday marking the index’s ninth positive session in 10, while the technology-heavy Nasdaq extended its streak to 10 consecutive advances. Asia-Pacific markets tracked Wall Street, opening higher on Wednesday. 

Meanwhile, oil prices extended recent declines. 

But a resolution to the situation in the Middle East remains uncertain. Talks between U.S. and Iranian negotiators in Islamabad stalled last weekend, prompting Trump to announce a U.S. blockade of the Strait of Hormuz, the vital trade route that normally carries about 20% of global oil supply.

More than 10,000 U.S. sailors, Marines, and airmen are enforcing the blockade, alongside over a dozen warships and dozens of aircraft, the U.S. Central Command said. 

The blockade further chokes off traffic through the strait, which has slowed to a trickle despite Trump’s earlier claim on April 7 that a two-week ceasefire agreement with Iran would hinge on its full reopening.

A key sticking point between both sides regarding the ceasefire has been Israel’s attacks on Lebanon. U.S. Secretary of State Marco Rubio hosted the first direct talks between Israel and Lebanon in decades, though it was not immediately clear whether any framework for peace was reached.

The broader economic risks have continued to rear their head. Citadel CEO Ken Griffin warned that a prolonged disruption in the Strait of Hormuz could push the global economy toward a recession.

Meanwhile, experts told CNBC that Europe’s airline industry is at risk of a “systemic” jet fuel shortage in the next few weeks if the Strait of Hormuz blockade persists, potentially leading to hundreds of flight cancellations.

The conflict is also raising tensions among major powers. U.S. Treasury Secretary Scott Bessent accused China of being an unreliable global partner during the Middle East war, claiming it was hoarding oil supplies and enacting export restrictions ‌on some goods.

In corporate news, Meta and Broadcom announced an extended partnership to…

Software stocks made a comeback on Tuesday after Anthropic hosted its enterprise agents event, where it revealed new partnerships, quelling some investor fears that the sector could be displaced by artificial intelligence.

The AI startup launched new updates to Claude Cowork that allow companies to integrate the productivity tool into a host of enterprise apps, such as Salesforce-owned Slack, Intuit, Docusign, LegalZoom, FactSet and Google‘s Gmail.

Organizations can also deploy customizable plugins across sectors like financial analysis, engineering and human resources, Anthropic said.

Salesforce, Docusign and LegalZoom shares jumped 4% following the Anthropic announcement. Thomson Reuters‘ stock surged more than 11% and FactSet shares rose 6%.

Analysts at Wedbush Securities said in a Tuesday research note that Anthropic’s event showed the competition risk to software from AI is “overblown.”

They argued that models aren’t capable of replacing entire workflows that remain “deeply embedded” in software infrastructure.

“The reality is that these new AI tools will not rip and replace existing software ecosystems and data environments with these AI tools only as useful as the data it can reach,” the analysts wrote.

Anthropic’s recent product rollouts have sent software and cybersecurity stocks tumbling in recent weeks as investors digested the looming threat of AI tools to those business models.

Many of those stocks climbed higher on Tuesday, including CrowdStrike and Okta, which rose about 1%. Zscaler, Tenable and SentinelOne jumped about 4% each, while Cloudflare was up more than 3%.

IBM shares sold off heavily on Monday after Anthropic touted a tool that could automate aspects of a programming language run on IBM’s computers. IBM’s stock rebounded Tuesday, climbing 3%.

— CNBC’s Ashley Capoot and Kate Rooney contributed reporting to this story.