Needle in a Haystack

Trump's Tuesday 8PM deadline for Iran to reopen the Strait of Hormuz looms as the week's defining catalyst, with Tehran rejecting ceasefire proposals and Trump warning that "the entire country can be taken out in one night." US equities opened cautiously

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Daily Updates:

• Trump extended an original deadline by two days to expire 8PM ET on Tuesday for Iran to reopen the Strait of Hormuz, threatening to strike power plants and bridges ("Tuesday will be Power Plant Day, and Bridge Day, all wrapped up in one").

• The ceasefire would have required Iran to reopen the Strait of Hormuz immediately and allowed for 15-20 days for a broader settlement.

• However, Iran officials have rejected proposals for a ceasefire and instead demand a "definitive" end to the war and reparations for damages. Tehran warned of a "more severe and expansive" response if infrastructure strikes proceed.