Good morning. Trump has fired Attorney General Pam Bondi after mounting pressure over her handling of Jeffrey Epstein-related files, marking another dramatic shake-up in his administration. The president also escalated tensions with Iran, threatening to hit the country "extremely hard," which sent oil prices jumping to their highest levels since mid-2022 as West Texas Intermediate crude surged on concerns the conflict could drag on longer than hoped.
On the economic front, Trump's tariff strategy is showing mixed results a year after implementation - while economists' dire predictions haven't materialized, the administration just announced new tariffs on pharmaceuticals while rolling back some metal duties. Meanwhile, Elon Musk is preparing for what could be his biggest financial gamble yet with a potential SpaceX IPO, looking to capitalize on massive investor interest. In other news, mortgage rates have hit a three-year high amid the escalating Middle East tensions, and there's promising space news as Artemis II gets the green light to return humans to the Moon after a half-century absence.