Morning Headlines

The US-brokered ceasefire between Israel and Iran has effectively broken down, with both sides exchanging their most severe strikes since negotiations began; Trump vowed the US naval blockade would remain 'in full force' until a final peace deal is signed, while a senior Iranian official told CNN that Tehran doubts US sincerity. The conflict, which began in February 2026, now risks re-escalating into open war.

A powerful offshore quake struck southern Mindanao, killing at least 32 people, injuring more than 200, and sending a 3-foot tsunami into nearby coastlines, with smaller waves recorded as far as Indonesia and southern Japan. General Santos City, population 722,000, sustained serious damage and aftershocks as strong as magnitude 6.5 continued through the day.

The Bundibugyo strain of Ebola—for which there is no approved vaccine or treatment—has reached 515 confirmed cases across 17 health zones in Ituri and spread into North and South Kivu provinces, with Uganda recording 19 additional cases. The US CDC projects a 65% chance case counts will exceed 20,000 within three months if isolation rates remain low.

Apple debuted a fully rebuilt assistant branded 'Siri AI' at its annual developers conference, integrating Google Gemini for deeper conversational capability, system-wide context awareness, and a new standalone app, alongside iOS 27 and macOS Golden Gate. The feature won't reach EU or China customers at launch due to regulatory hurdles, and Apple's share price slipped nearly 2% on the news.

US equities recovered Monday—Nasdaq +1.4%, S&P 500 +0.9%—led by Marvell (+9%) and Micron (+7%) after Friday's 4% Nasdaq plunge, which was sparked by a blowout jobs report and weak Broadcom guidance. The 10-year Treasury yield held near 4.56% and markets now price a 72% chance of at least one Fed rate hike this year, making Tuesday's CPI print the week's pivotal risk event.