Markets Slip as U.S. Blockade Threatens Iran's Economic Model
U.S. futures are modestly lower after peace talks collapsed and U.S. Central Command announced a maritime blockade on all Iranian port traffic beginning today at 10 a.m. ET, with Nasdaq, S&P 500, and Dow futures each slipping between -0.4% and -0.6%. Odds of the Strait of Hormuz returning to normal before June fell from roughly 65% to 38% overnight on prediction markets. Economist Robin Brooks warned the blockade could prove decisive, arguing that halting oil and gas shipments would collapse Iran's current account surplus and dismantle its primary source of external income.
Goldman Beats on EPS Despite NII Miss and Higher Credit Costs
Goldman Sachs (GS) is down -3.5% in premarket trading after Q1 net interest income of $3.56B missed estimates and provision for credit losses of $315M nearly doubled consensus. EPS of $17.55 topped the $16.39 estimate and revenue of $17.2B edged past consensus, lifted by Global Banking & Markets, where investment banking fees surged +48% YoY and equity revenue climbed +19% YoY. CEO David Solomon flagged a complex geopolitical landscape and emphasized disciplined risk management.
Apple Eyes 2027 Launch for AI Glasses to Rival Meta
Apple (AAPL) is testing four smart glasses designs internally dubbed N50, targeting a launch as early as late 2026 and a full release in 2027, Bloomberg reported. Styles range from Wayfarer-style rectangular frames to oval options, with AAPL differentiating on iPhone integration, acetate construction, and a camera system distinct from Meta's (META) circular design. Analysts note that with a functional Siri, the glasses could mirror the Apple Watch playbook: not first to market, but ultimately dominant.
Robinhood Pulls Mention Markets Over Manipulation Fears
Robinhood (HOOD) has excluded certain prediction market contracts from its platform amid insider trading and manipulation concerns, the Financial Times reported. HOOD president Jordan Sinclair specifically flagged "mention markets," which let users bet on words spoken during events like White House briefings or earnings calls, as the excluded category. The move follows a February incident in which a former MrBeast editor was fined $20k and reported to regulators by partner Kalshi for insider trading.
Vertiv Bolsters Data Center Footprint With BMarko Buy
Vertiv (VRT) acquired BMarko Structures, a U.S.-based custom-engineered fabrication firm specializing in steel and wood builds suited to AI factory and data center requirements. BMarko's roughly 560,000-square-foot facility sits near VRT's own Infrastructure Solutions manufacturing operations. CEO Gio Albertazzi framed the deal as a direct response to rising customer demands for faster time-to-capacity as AI infrastructure complexity grows.
