Markets hold their breath ahead of President Trump's looming deadline to take out Iran
unless it reopens the Strait of Hormuz.
Plus, how should central bankers respond to the ripple effects of the war?
We'll ask one.
If we are not at the end of it by June, we're probably going to have to hike rates.
But if it would morph in some form of financial crisis or tension in financial systems,
then it really becomes much more difficult to manage.
And Bill Ackman makes a play for the world's largest music company.
It's Tuesday, April 7th.
I'm Luke Vargas for The Wall Street Journal.
And here is the AM edition of What's News, the top headlines and business stories moving your world today.
Iran and the U.S.
Are rejecting each other's diplomatic offers just hours ahead of President Trump's deadline to start bombing Iran's bridges
and power plants unless it opens the Strait of Hormuz.
We report that Iran has rejected a proposal from Washington that would have seen a 45-day pause in fighting in exchange
for reopening the Strait, saying that it wanted a permanent ceasefire,
the lifting of sanctions, compensation for war damages, and a new arrangement for governing the Strait going forward.
In response, President Trump said that Iran's proposal was quote, not good enough, but it's a significant step.
U.S. Stock futures are flat and oil prices are hovering around $110 a barrel ahead of this evening's deadline.
U.S. Health insurance stocks are rallying off hours after the Trump administration said it would boost 2027