First Squawk

S&P 500 UNOFFICIALLY CLOSES UP 19.32 POINTS, OR 0.26 PERCENT, AT 7,582.95 DOW JONES UNOFFICIALLY CLOSES UP 339.56 POINTS, OR 0.67%, AT 51,008.53 NASDAQ UNOFFICIALLY CLOSES UP 63.72 POINTS, OR 0.24 PERCENT, AT 26,981.19

BESSENT: THERE'S MORE WE CAN DO ON IRAN IF WE HAVE TO

BESSENT, ASKED ABOUT BLOCKADE ON IRAN, SAYS ANYTHING THAT IS TAKEN OFF WILL BE TAKEN OFF SLOWLY

BESSENT: TRUMP MADE THE DECISION ON WARSH AS FED CHAIR

BESSENT: I NEVER PUT MY THUMB ON THE SCALE FOR KEVIN WARSH

BESSENT: TRUMP'S IMAGE WILL APPEAR ON A COIN

BESSENT: TRUMP SHOULD BE ON A $250 BILL

BESSENT: SEE REAL WAGE GROWTH TO RESUME, ON OTHER SIDE OF WAR

U.S. SPACE FORCE: AWARDED $4.16 BILLION DEAL TO SPACEX FOR SPACE-BASED AIRBORNE MOVING TARGET INDICATOR PROGRAM

TRUMP CONCLUDES MEETING ON IRAN DEAL WITHOUT REACHING DECISION – NY TIMES

WTO: IF SHIPPING FLOWS DON'T RETURN TO NORMAL, OIL INVENTORY DEPLETION WILL PRESENT RISKS FOR FUEL SECURITY, MARKET CONDITIONS, ECONOMIC RESILIENCE - IEA, IMF, WORLD BANK, AND WTO JOINT STATEMENT

U.S. CRUDE OIL FUTURES SETTLE AT $87.36/BBL, DOWN $1.54, 1.73 PCT

IRAN'S MEHR SAYS AIR DEFENSE ACTIVITY HEARD IN ISLAND OF QESHM

TRUMP ON TRUTH SOCIAL It is my Great Honor to endorse America First Patriot, David Flippo, who is running to represent the fantastic people of Nevada’s 2nd Congressional District! He is strongly supported by the most Highly Respected MAGA Warriors in Nevada, and many Republicans in the U.S. House of Representatives. I won Nevada in a virtual Landslide in 2024, and have always done phenomenally well there. I love the State — The People are special! I will never let you down and, with David Flippo, I am just adding to that Statement. He will be GREAT for you, for the State, and for our Country! The Democrats, and some of David’s Republican Opponents, would like to end NO TAX ON TIPS. That won’t happen with David and I on watch! A retired U.S. Air Force Lieutenant Colonel, David knows the Wisdom and Courage required to Defend our Country, Support our incredible Military/Veterans, and Ensure PEACE THROUGH STRENGTH. A successful Small Business Owner and Civic Leader, prior to running for Congress, David has dedicated his life to serving his Community. As your next Congressman, David will fight hard to Grow our Economy, Cut Taxes and Regulations, Promote NO TAX ON TIPS, Unleash American Energy DOMINANCE, Champion MADE IN THE U.S.A., Keep our Border SECURE, Stop Migrant Crime, Safeguard our Elections, and Protect our always under siege Second Amendment. David Flippo has my Complete and Total Endorsement to be the next Representative from Nevada’s 2nd Congressional District – HE WILL NEVER LET YOU DOWN! President DONALD J. TRUMP

MERCEDES-BENZ MAY BE SHUT OUT OF US MARKET UNDER BILL AIMED AT CHINESE AUTOMAKER OWNERSHIP - CNBC

IRAN'S BAGHAEI SAYS NO AGREEMENT HAS BEEN FINALISED WITH THE UNITED STATES SO FAR

IRAN'S BAGHAEI SAYS THE MANAGEMENT OF THE STRAIT OF HORMUZ MUST BE DECIDED BY IRAN AND OMAN

IRAN'S FOREIGN MINISTRY SPOKESMAN BAGHAEI TO STATE TV: AT THIS STAGE, WE ARE FOCUSED ON ENDING THE WAR, WE ARE NOT NEGOTIATING OVER IRAN'S NUCLEAR PROGRAM

IRANIAN SOURCE: DISAGREEMENTS WITH THE US CONTINUE ON SEVERAL ISSUES || A RESPONSIBLE SOURCE TOLD AL-ARABI AL-JADEED THAT WHAT TRUMP ANNOUNCED TODAY IS A SELECTIVE APPROACH WITH SOME OF THE PROVISIONS OF A POSSIBLE AGREEMENT. || HE SAID THAT DISPUTES OVER SEVERAL CASES ARE STILL ONGOING. - NOUR

PUTIN SAYS WE ARE READY TO CONTINUE TALKS ON UKRAINE

PUTIN: WE HAVE THE RIGHTS TO SPEAK, GIVEN THE SITUATION ON THE BATTLEFIELD, THAT THE SITUATION IS COMING TO AN END || STATEMENTS ABOUT RUSSIA PREPARING FOR A WAR WITH EUROPE ARE LIES || RUSSIA IS NOT THREATENING EUROPE

PUTIN: I ASSUMED THE ANALYSIS OF THE BATTLEFIELD WHEN SAYING THIS || RUSSIAN FORCES ARE ADVANCING EVERY DAY || WESTERN MEDIA REPORTED POORLY ABOUT THE STRIKE ON STAROBILSK IN LUHANSK REGION, THEY SHOULD BE ASHAMED OF THEMSELVES

PUTIN CLARIFIES HIS EARLIER REMARKS ON UKRAINE, SAYING HE CANNOT PROVIDE A SPECIFIC TIMELINE FOR A RESOLUTION.

IRAN'S FARS AGENCY : INFORMED SOURCES STRESSED THERE IS NO PROVISION ABOUT DESTROYING TEHRAN'S NUCLEAR MATERIALS IN MOU, CLAIM IS FUNDAMENTALLY 'BASELESS'

FARS: IRAN'S ARRANGEMENTS FOR REOPENING HORMUZ COULD INCLUDE MONITORING AND INSPECTION OF SHIPS, PROVISION OF SERVICES, AND SECURITY MEASURES

FARS, CITING SOURCES, SAYS TRUMP'S COMMENTS ARE AN 'ATTEMPT TO PORTRAY A FABRICATED VICTORY'

IRAN'S FARS, CITING SOURCES, REJECTS TRUMP'S COMMENTS ABOUT A POSSIBLE AGREEMENT WITH IRAN AS 'A MIXTURE OF TRUTH AND FALSEHOOD'

IRAN'S FARS CITING SOURCES: AGREEMENT WITH U.S. IS IN THE FINAL STAGES OF RATIFICATION IN IRAN AND A FINAL DECISION HAS NOT YET BEEN MADE

PUTIN ON DRONE IN ROMANIA: I HAVE JUST HEARD ABOUT THIS || I HEAR SOME DRONE FLEW IN ROMANIA, I DON'T KNOW WHAT THE DRONE IS || NO ONE CAN TELL ABOUT THE ORIGIN OF A DRONE

FARS NEWS: INFORMED SOURCES HAVE REJECTED TRUMP'S NEW CLAIMS ABOUT A POSSIBLE DEAL WITH IRAN, DESCRIBING HIS REMARKS AS 'A MIXTURE OF TRUTH AND LIES' AND AN ATTEMPT TO PORTRAY A FAKE VICTORY.

CHINA’S POWERFUL REGULATOR, NATIONAL DEVELOPMENT AND REFORM COMMISSION, HAS QUESTIONED PREMIUM ZIJIN IS PAYING AS WELL AS THE GEOPOLITICAL RISKS - FT

FRANCE'S CAC 40 UP 0.15%; SPAIN'S IBEX UP 0.75%

BRITAIN'S FTSE 100 DOWN 0.09%; GERMANY'S DAX UP 0.08%

EURO ZONE BOND YIELDS DROP FOLLOWING TRUMP'S ANNOUNCEMENT ABOUT A MEETING TO DECIDE ON THE IRAN DEAL.

SPOT GOLD RISES BY 2% TO $4,575.24 PER OUNCE.

U.S. MAY WORKERS ON STRIKE 4,000

KAZAKHSTAN OFFERS TO TAKE IRAN’S URANIUM STOCKPILE, WATCHDOG SAYS - FT

TRUMP: U.S. NAVAL BLOCKADE TO BE LIFTED TRUMP: STRANDED SHIPS FREE TO RESUME VOYAGES

TRUMP: ALL REMAINING MINES IN HORMUZ TO BE REMOVED OR DESTROYED

TRUMP ON TRUTH SOCIAL: Iran must agree that they will never have a Nuclear Weapon or Bomb. The Hormuz Strait must be immediately open, no tolls, for unrestricted shipping traffic, in both directions. All water mines (bombs), if any, will be terminated (we have removed, through detonation, numerous such mines with our great underwater mine sweepers. Iran will complete the immediate removal and/or detonation of any mines that are left, which will not be many!). Ships caught in the Strait due to our amazing and unprecedented Naval Blockade, which will now be lifted, may start the process of “heading home!” Say HELLO to your wives, husbands, parents, and families from me, your favorite President! The enriched material, sometimes referred to as “Nuclear Dust,” which is buried deep underground with virtually collapsed mountains, caused by our powerful B2 Bomber attack 11 months ago, sitting on top of it, will be unearthed by the United States (which, it is agreed, is the only Country, along with China, with the mechanical capability of doing so!), in close coordination and conjunction with the Islamic Republic of Iran, plus the International Atomic Energy Agency, and DESTROYED. No money will be exchanged, until further notice. Other items, of far less importance, have been agreed to. I will be meeting now, in the Situation Room, to make a final determination. Thank you for your attention to this matter! President DONALD J. TRUMP

US GOVT'S PROPOSAL, PART OF USMCA RESTRUCTURING TALKS WITH MEXICO, WOULD ALSO SEEK TO INCREASE U.S. CONTENT FROM CURRENT 75% NORTH AMERICAN RULE- WSJ

THE NEW PROPOSAL WAS PREPARED AHEAD OF NEGOTIATIONS OVER HOW TO RESTRUCTURE THE USMCA, WHICH PRESIDENT TRUMP SIGNED IN 2020 AND IS UP FOR REVIEW THIS YEAR, ACCORDING TO THE PEOPLE FAMILIAR WITH PLANNING. A U.S. DELEGATION IS IN MEXICO CITY THIS WEEK FOR A FIRST ROUND OF FORMAL DISCUSSIONS ON THE PACT WITH THE MEXICAN GOVERNMENT. - WSJ

THE RULE WOULD GREATLY INCREASE THE AMOUNT OF U.S. CONTENT REQUIRED IN CARS MADE UNDER THE SO-CALLED USMCA, MEASURED BY THE DOLLAR VALUE OF THE COMPONENTS. THE PACT CURRENTLY REQUIRES THREE-QUARTERS OF A VEHICLE’S MATERIALS TO COME FROM NORTH AMERICAN SOURCES, BUT HAS NO U.S.-SPECIFIC CONTENT REQUIREMENT. - WSJ

THE TRUMP ADMINISTRATION IS EXPECTED TO PROPOSE A CHANGE TO THE U.S.-MEXICO-CANADA AGREEMENT THAT WOULD REQUIRE HALF OF THE COMPONENTS AND MATERIALS IN AN AUTOMOBILE TO COME FROM U.S. SOURCES IN ORDER TO QUALIFY FOR LOWER TARIFFS UNDER THE PACT, ACCORDING TO PEOPLE FAMILIAR WITH THE PLANS. - WSJ

IRAN'S FOREIGN MINISTER ARAQCHI SAYS HE HAD PRODUCTIVE CALL WITH OMAN'S FOREIGN MINISTER, EXPRESSED IRAN'S SOLIDARITY WITH OMAN IN FACE OF ANY THREAT || WE DISCUSSED HORMUZ AND ITS FUTURE ADMINISTRATION IN LINE WITH OUR SOVEREIGN RESPONSIBILITIES AND INTERNATIONAL LAW

S&P 500 UP 11.98 POINTS, OR 0.16 PERCENT, AT 7,575.61 AFTER MARKET OPEN DOW JONES UP 74.29 POINTS, OR 0.15 PERCENT, AT 50,743.26 AFTER MARKET OPEN NASDAQ UP 34.17 POINTS, OR 0.13 PERCENT, AT 26,951.64 AFTER MARKET OPEN

PAULSON SAYS IT'S GOOD FOR MARKETS TO MOVE TOWARD TIGHTER MONETARY POLICY.

FED'S PAULSON SAYS MONETARY POLICY IS IN A STRONG PLACE FOR FUTURE OUTLOOK.

FED'S PAULSON SAYS MONETARY POLICY IS CURRENTLY SUITABLE.

CENTCOM: U.S. FORCES CONTINUE TO ENFORCE THE BLOCKADE AGAINST IRAN. AS OF MAY 29, 115 COMMERCIAL VESSELS HAVE BEEN REDIRECTED TO ENSURE NO COMMERCE ENTERS OR LEAVES IRANIAN PORTS.

FED'S PAULSON SAYS JOBLESS RATE IS NEAR FULL EMPLOYMENT LEVELS.

FED'S PAULSON SAYS CONSUMERS ARE SPENDING, BUT GROWTH IS SLOWING DOWN.

FED'S PAULSON STATES US IS SET FOR CONTINUED MODERATE GROWTH.

FED'S PAULSON STATES INFLATION REMAINS EXCESSIVE AND WAS HIGH PRIOR TO THE WAR.

FED'S PAULSON SAYS MONETARY POLICY IS CURRENTLY AT A MILDLY RESTRICTIVE LEVEL.

BYTEDANCE'S NEW CHIP DESIGN MAY ELIMINATE THE REQUIREMENT FOR HIGH-BANDWIDTH MEMORY CHIPS, WHICH FACE STRICT U.S. EXPORT RESTRICTIONS TO CHINA.

CHINA'S BYTEDANCE IS WORKING ON NEW AI CHIPS SIMILAR TO NVIDIA'S PARTNER GROQ.

ZAKHAROVA FROM RUSSIA CLAIMS ALL CHARGES ABOUT RUSSIA'S ROLE IN DRONE INCIDENTS IN ROMANIA ARE UNFOUNDED - RIA.

FED'S BOWMAN SAYS EFFORTS TO REDUCE INFLATION HAVE STOPPED PROGRESS.

FED'S BOWMAN SAYS U.S. ECONOMY STAYS STRONG DESPITE WEAK JOB MARKET CONDITIONS.

FED'S BOWMAN SEEKS BETTER UNDERSTANDING OF WAR'S EFFECT ON ECONOMY.

FED'S BOWMAN WARNS THAT A PROLONGED MIDEAST CONFLICT INCREASES INFLATION RISKS.

FED'S BOWMAN SAYS LONG-LASTING ENERGY PRICE RISES COULD AFFECT INFLATION BY THE END OF THIS YEAR.

BOWMAN STATES THAT THE FEDERAL RESERVE'S 'MODERATELY RESTRICTIVE' POLICY IS DESIGNED TO SUPPORT JOB CREATION AND REDUCE INFLATION.

FED'S BOWMAN IS HOPEFUL THAT THE END OF THE WAR WILL LOWER ENERGY PRICES.

FED'S BOWMAN SAYS TEMPORARY ENERGY SHOCK MIGHT HURT THE ECONOMY.

FED'S BOWMAN SAYS IT'S TOO SOON TO MEASURE THE MIDDLE EAST WAR'S EFFECT ON THE ECONOMY.

BOWMAN SAYS FEDERAL RESERVE CAN OVERLOOK ENERGY PRICE SPIKE IF IT REMAINS TRUSTWORTHY ON MONETARY POLICY.

FED'S BOWMAN STATED SHE MAY CHANGE POLICY VIEW IF WAR-RELATED INFLATION SPREADS.

IRAN'S LEAD NEGOTIATOR QALIBAF STATED THAT CONCESSIONS ARE ACHIEVED NOT THROUGH DIALOGUE, BUT RATHER THROUGH MISSILE POWER.

IRAN'S TOP NEGOTIATOR QALIBAF: WE SEIZE CONCESSIONS NOT THROUGH DIALOGUE, BUT WITH MISSILES; IN NEGOTIATIONS, WE MERELY MAKE THEM UNDERSTAND. || WE HAVE NO TRUST IN GUARANTEES OR WORDS—ONLY ACTIONS ARE THE MEASURE. NO ACTION WILL BE TAKEN BEFORE THE OTHER SIDE ACTS. || THE WINNER OF ANY AGREEMENT IS THE ONE WHO IS BETTER PREPARED FOR WAR FROM THE DAY AFTER.

IRAN'S GHALIBAF STATES NO MEASURES WILL BE TAKEN UNTIL THE OTHER PARTY TAKES ACTION.

CANADA'S ECONOMY FELL 0.1% SAAR IN THE FIRST QUARTER, BELOW THE EXPECTED +1.5%.

EU'S VON DER LEYEN ANNOUNCES PROGRESS IN ACCESSING €4.2 BILLION COHESION FUNDS FOR HUNGARY.

EU'S VON DER LEYEN ANNOUNCED A SAFE AND SOLID LANDING ZONE FOR HUNGARY.

EU'S VON DER LEYEN ANNOUNCED SPECIFIC INVESTMENT PROJECTS FOR HUNGARY.

EU'S VON DER LEYEN SAYS HUNGARY IS SENDING POWERFUL SIGNALS OF CHANGE.

EU'S VON DER LEYEN ANNOUNCED HUNGARY WILL PROTECT EUROPEAN FUNDS MOVING FORWARD.

EU'S VON DER LEYEN CONFIRMS DEAL FOR STRONG FRAMEWORK TO MAKE SURE HUNGARY FIGHTS CORRUPTION.

GERMAN FINANCE MINISTRY ANNOUNCES THAT FINANCE MINISTERS FROM THE SIX LARGEST EU ECONOMIES HAVE REACHED A CONSENSUS ON A COMMON STANCE REGARDING MARKET INTEGRATION AND SUPERVISION MEASURES.

ASTRAZENECA'S PHASE III CLINICAL STUDY FAILED TO ACHIEVE KEY GOAL IN LIGHT CHAIN AMYLOIDOSIS GROUP.

IRAN'S TASNIM: MOU TEXTS IN WESTERN MEDIA AREN'T ACCURATE

IRAN'S TASNIM: TEXT OF MOU WITH US HAS CHANGED IN RECENT DAYS

RUSSIA ATTACKED UKRAINE'S NAFTOGAZ FACILITIES IN KHARKIV AND SUMY AREAS, ACCORDING TO THE COMPANY.

CHEVRON EXPECTS MORE PIPELINES WILL BE CONSTRUCTED TO AVOID STRAIT OF HORMUZ.

CHEVRON'S CEO ANNOUNCED THAT THE COMPANY WILL NOT COMPENSATE IRAN FOR TOLL FEES IN THE STRAIT OF HORMUZ.

ROMANIAN PRESIDENT: UNTIL ROMANIA UPGRADES ITS AIR DEFENCES WE HAVE AGREEMENTS WITH NATO ALLIES FOR SOME EQUIPMENT TO BE RELOCATED TO ROMANIA, TIMING UNCLEAR

UKRAINE CLAIMS IT STRUCK RUSSIA'S VOLGOGRAD REFINERY.

FED'S SCHMID STATES THAT THE FED'S WORK IS CHALLENGING CURRENTLY DUE TO GLOBAL CONDITIONS.

ZELENSKYY SAYS RUSSIA IS GETTING READY FOR A MAJOR AIR ATTACK ON UKRAINE.

FED'S SCHMID SAYS OIL PRICES COULD FALL IF WAR ENDS AND THERE'S TIME TO ASSESS WAR'S EFFECT ON THE ECONOMY.

FED'S SCHMID STATED THAT EVERYONE IS ON EDGE DUE TO MIDDLE EAST WAR CONCERNS.

FED'S SCHMID SAYS BALANCE SHEET COULD HELP IN POLICY RESTRICTIONS.

FED'S SCHMID SUGGESTS CONSIDERING A MORE RESTRICTIVE MONETARY POLICY.

FED'S SCHMID STATED THAT CURRENT MONETARY POLICY IS NOT VERY RESTRICTIVE.

EUROPEAN COMMISSION STATES THAT THE FOCUS ON CHINA WILL CONTINUE TO BE ON DE-RISKING RATHER THAN DECOUPLING.

OPENAI IS BROADENING ACCESS TO GPT-ROSALIND FOR SOME U.S. GOVERNMENT AGENCIES AND ALLIES FOCUSED ON BIODEFENSE TASKS.

ZELENSKIY: READY TO SUPPORT ROMANIA IN WHATEVER WAY IS NECESSARY || RUSSIA CARRIED OUT YET ANOTHER 'CYNICAL ATTACK' ON CIVILIAN INFRASTRUCTURE

SIMKUS: WOULDN'T OVEREMPHASIZE EFFECT OF HIKE ON ECONOMY

ECB'S SIMKUS SAYS TIMING OF SECOND RATE HIKE UNCLEAR AT THIS POINT