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The Latest Breaking News from Iran

Plus: AOC attacks billionaires, Trump heads into Xi talks weakened by the Iran conflict, and redistricting battles escalate nationwide

Reason

S&P 500, Nasdaq hit record highs and Dow Jones rises despite soaring oil prices and Trump warning Iran's ceasefire is 'on life support' - here's how US stock market performed on May 11

S&P 500, Nasdaq, Dow Jones today: The S&P 500 and Nasdaq Composite, closed at record highs Monday, driven by continued investment in technology and AI stocks. Despite rising oil prices due to US-Iran tensions and President Trump's rejection of Iran's proposal, markets largely shrugged off geopolitical concerns, focusing instead on…

The Economic Times

Midwest is bearing the brunt of gas price hikes from Trump’s Iran war including 72% jump in Ohio

The national average for a gallon of regular gas was $4.52 Monday, up from the $2.98 average in late February before Iran conflict began

The Independent UK

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Iran war quagmire threatens to leave Trump with little from China trip besides ballroom envy

ANALYSIS: The president’s visit with Xi Jinping was meant to be a moment of triumph, writes Andrew Feinberg, but it will instead present an optics nightmare amid rising prices due to his unilateral military action

The Independent UK

Trump’s thinning hair steals the show on social media: ‘The crew at Hair Team 6 should be fired’

Social media users mocked the state of president’s hair during an Oval Office event

The Independent UK

Stocks Settle Higher on Strong Earnings

The S&P 500 Index ($SPX ) (SPY ) on Monday closed up +0.19%, the Dow Jones Industrial Average ($DOWI ) (DIA ) closed up +0.19%, and the Nasdaq 100 Index ($IUXX ) (QQQ ) closed up +0.29%. June E-mini S&P futures (ESM26 ) rose +0.18%, and June E-mini Nasdaq futures...

Barchart

Is China's 'Nostradamus' right? Is a global depression and an escalation in the Strait of Hormuz looming? Here's what happened during the heated Piers Morgan debate

China's 'Nostradamus,' Professor Xueqin Jiang, warns of an impending global depression, a process he believes could span decades. He also highlighted China's unexpected diplomatic role in securing a ceasefire in the Strait of Hormuz, attributing the ongoing tensions to perceived US unreasonableness in negotiations with Iran. The situation carries potentially…

The Economic Times

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Trump Shocks Critics After Calling Strait of Hormuz Shutdown the 'Smartest Move in History'

Trump hails Strait of Hormuz shutdown as history's smartest move, even as petrol tops $4.52 and Iran ceasefire talks collapse, escalating rhetoric in the conflict's tenth week.

International Business Times

Iran says ready to 'teach a lesson' if attacked after Trump called Tehran's latest peace proposal 'piece of garbage'

Iran's armed forces are prepared to retaliate after President Trump rejected Tehran's ceasefire proposal, escalating regional tensions. The dispute over the Strait of Hormuz, a critical oil route, has already caused significant energy supply shocks and threatens global food security, with the UN warning of a potential humanitarian crisis.

The Times of India

7 films to help you understand Iranian women’s fight for freedom

For women in Iran, life changed dramatically after the 1979 Iranian Revolution.

The Conversation

US stocks today: S&P 500 inches to higher close, AI fervor edges out Iran impasse

US stocks closed slightly higher as AI-driven momentum lifted semiconductor shares, even as rising crude prices and stalled US-Iran talks kept inflation worries alive. Strong earnings supported sentiment, with over 80% S&P 500 firms beating estimates. Focus now shifts to US inflation data and key macroeconomic indicators this week.

The Economic Times

Trump to cut federal fuel tax as motorists count cost of Iran war at the pump

Petrol prices in the US have risen by more than 50% since the start of the Middle East conflict, feeding domestic discontent

Evening Standard

Dollar Edges Higher on Crude Oil Strength

The dollar index (DXY00 ) on Monday rose by +0.05%. The dollar was supported on Monday by increased safe-haven demand after the US and Iran failed to reach terms to end the war. Also, Monday's +2% jump in crude oil prices boosted inflation expectations and may prompt the Fed to...

Barchart

Strait of Hormuz Closure Pushes Crude Prices Higher

June WTI crude oil (CLM26 ) on Monday closed up +2.65 (+2.78%), and June RBOB gasoline (RBM26 ) closed up +0.0731 (+2.07%). Crude oil and gasoline prices settled sharply higher on Monday after President Trump rejected Iran's response to his latest peace proposal, which prolongs the closure of the Strait...

Barchart

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International Business Times

Trump Says Iran Deal Is In 'Life Support' After 'Unbelievably Weak' Response From Tehran

President Donald Trump said on Monday that negotiations with Iran to end the war are in "life support" after the regime's "unbelievably weak" response to Washington's latest proposal.

The Guardian - US

Trump vows to pause federal gas tax after Iran war boosts US fuel prices to four-year high

National average for gas prices has risen by well over a dollar a gallon since late February

The Guardian - UK

Trump says ceasefire with Iran on ‘life support’ after rejecting peace proposals

US president says he is considering restarting naval escorts in strait of Hormuz in attempt to end Iranian blockade

We Got This Covered

‘Down to zero’: Netanyahu told ’60 Minutes’ he wants to cut Israel’s $3.8 billion annual U.S. financial support, and wants to start immediately

American taxpayers should be celebrating.

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The Guardian - UK

Why is Putin now talking about the war in Ukraine ‘coming to an end’?

Drone strikes, mounting casualties and a distracted US president means a slow-motion victory is in doubt

The Times of India

Trump says US-Iran ceasefire on 'life support'; calls Tehran's latest proposal 'piece of garbage'

US President Donald Trump on Monday said the ceasefire with Iran was “on life support” after he rejected Tehran’s response to its proposal, raising fears of renewed escalation in the 10-week-old conflict that has remained under a fragile ceasefire since April 8.

The Mary Sue

‘The Iran war isn’t going very well’: Rogan exposes Trump’s UFO stunt as a last-ditch cover-up for military failure

The Trump administration just dropped a massive batch of UFO files, and Joe Rogan is calling it a distraction from a war that’s “not going very well.” According to The Hill, the Pentagon released hundreds of declassified documents on May 8, 2026, including reports of unidentified anomalous phenomena dating back…

Axios

Trump weighs military action against Iran with ceasefire "on life support"

The president and his national security team meet to discuss next steps.

The Independent UK

‘Military genius’: Trump defends his Iran plan in lash back to critics but admits ceasefire is ‘on life support’

President suggests bombing could resume after he rejects Iranian peace proposal

Evening Standard

Mixed day for stocks as oil prices climb amid ongoing Iran-US deadlock

The continued stalemate between the US and Iran dashed investors’ hopes of an imminent peace deal and heightened concerns over oil supply disruption.

Reason

How Much Has the Iran War Actually Cost? A Lot More Than $25 Billion.

Direct military costs have exceeded $70 billion by one estimate, and Americans have paid more than $37 billion in higher energy costs since the war began.

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