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US President Donald Trump (L) greets Secretary of Defense Pete Hegseth as he arrives to address troops at the Al-Udeid air base southwest of Doha on May 15, 2025.

Brendan Smialowski | Afp | Getty Images

It’s a strange thought that launching attacks on other countries could lead to peace, but that seems to be the logic behind the abrupt escalation in conflict in the Middle East beginning Saturday. And now there’s talk of a ceasefire soon.

Here’s a quick recap.  

On Saturday, U.S. President Donald Trump authorized air strikes on Iranian nuclear sites, pushing America into Israel’s war with Tehran.

On Sunday, Iran’s Foreign Minister Abbas Araghchi said Tehran “reserves all options to defend its sovereignty, interest, and people.”

On Monday, Iran launched a retaliatory strike against America, targeting a U.S. military base in Qatar.

And on Monday evening stateside, Trump announced a ceasefire.

Trump said on Truth Social that Israel and Iran had agreed to a “Complete and Total CEASEFIRE” that will, in effect mark “an Official END to THE 12 DAY WAR” — which began when Israel attacked Iran on June 12.

There are signs this isn’t the usual empty rhetoric. Iran gave the U.S. “early notice” of its attack on the military base in Qatar, according to Trump. It was a “retaliation that was expected,” Republican House Speaker Mike Johnson said.

Qatar also received advanced warning from Iran, according to The New York Times, which cited three Iranian officials familiar with the matter. Iran’s national security council said its missile strike “posed no threat whatsoever to our friendly and brotherly nation, Qatar, or its honorable people.”

This, essentially, is “the peace through strength strategy,” Helima Croft, head of global commodity strategy at RBC Capital Markets, told CNBC.

In other words, there’s a small chance tensions in the Middle East might cool down following a carefully calibrated and symbolic exchange of strikes that projects strength from all parties, while also providing Iran an off-ramp to de-escalate tension.

Judging by the U.S. stock and oil markets — which rose and fell, respectively — investors are indeed hopeful the strategy of missile-led peace would work.

What you need to know today

Trump announces an Israel-Iran ceasefire
U.S. President Donald Trump 
announced on Truth Social that Israel and Iran had agreed to a “Complete and Total CEASEFIRE” that will begin around midnight Tuesday stateside. However, neither Iran nor Israel has publicly confirmed they have accepted Trump’s ceasefire timeline. Read CNBC’s live coverage of the latest developments on the Israel-Iran war here.

Iran strikes U.S. military base in Qatar
Iran on Monday launched what its armed forces called a “powerful and destructive missile strike on the United States’ Al-Udeid military base in Qatar.” The Al-Udeid Air Base is the largest American military installation in the Middle East, with around 10,000 service members. Qatar’s Defense Ministry said its air defense had intercepted the missile attack on Al-Udeid, and that there were no reported deaths or injuries.

Prices of oil post a huge drop
Oil prices fell sharply Monday after Iran’s strike on Qatar had no reported casualties. U.S. crude oil fell 7.22%, to close at $68.51 per barrel, while global benchmark Brent shed 7.18% to $71.48 during U.S. trading. Trump on Monday demanded that “everyone” keep oil prices down or they would play “into the hands of the enemy.” Trump didn’t specify who he was referring to, but he seemed to be addressing U.S. oil producers.

Markets in U.S. rise on de-escalation hopes
U.S. stocks rose Monday as investors seemed hopeful of de-escalation in the Israel-Iran war. The S&P 500 climbed 0.96%, the Dow Jones Industrial Average added 0.89% and the Nasdaq Composite gained 0.94%. Tesla shares popped 8.2% after the company launched its robotaxis in Austin, Texas, on Sunday— but regulators are looking into reports of robotaxis driving erratically. Europe’s Stoxx 600 index fell 0.28%.

[PRO] Wall Street’s thoughts on robotaxis
Wall Street closely watched Tesla’s robotaxi launch in Texas over the weekend. Analyst outlooks on the event vary widely. While Wedbush’s Dan Ives, who rode in the robotaxis over the weekend, said it “exceeded our expectations,” Guggenheim’s Ronald Jewsikow called the event “baby steps.” Here’s what analysts think about what the robotaxis mean for Tesla’s stock.

And finally…

An Airbus A350-941 commercial jet, operated by Emirates Airline, at the Paris Air Show in Paris, France, on Monday, June 16, 2025.

Matthieu Rondel | Bloomberg | Getty Images

Airlines divert, cancel more Middle East flights after Iran attacks U.S. military base

Airlines diverted more Middle East flights on Monday after Iran’s armed forces said the country launched a missile strike on a U.S. military base in Qatar, as the region’s military conflict continued to disrupt airlines’ operations.

Dubai-based Emirates said that some of its aircraft rerouted on Monday and told customers that delays or longer flights were possible as it would take “flight paths well distanced from conflict areas,” while operating its schedule as planned.

Air India said it had halted all flights in and out of the region and to and from the east coast of North America and Europe “until further notice.”

Earlier, major international airlines including Air France, Iberia, Finnair and others announced they would pause or further postpone a resumption of service to some destinations in the Middle East.

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How one man with a hacksaw and an e-bike became a Texas flood ‘hero’

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How one man with a hacksaw and an e-bike became a Texas flood 'hero'

Locals call him the “Bicycle hero,” but Texas man Evan Wayne says he’s just doing what he can to help his community after it was cut off due to the recent devastating and deadly flooding tragedy.

When the local Sandy Creek flooded following torrential rains in Texas, it destroyed the only bridge into one community. Residents were cut off from access to supplies, including everything from necessities like food, water, and medicine to basic comforts.

Although the bridge was impassable to cars, volunteers who quickly organized to help the stranded residents found that the damaged bridge could still be traversed on foot. Or in the case of Evan Wayne, it could be covered by an electric bike.

Evan joined hundreds of volunteers who answered the call of grassroots organizers by working together without any official capacity. While many started by hand-pulling garden carts of supplies uphill to reach the stricken community, Evan jury-rigged a trailer to an e-bike and took on as much of the load as he could, helping shuttle much-needed food and gear into the community over hundreds of round-trip journeys.

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“This was a dog trailer 48 hours ago. I had a hacksaw, hacked the top off, grabbed some bungee cords, and here we are,” explained Evan in an interview with CBS Austin, while waiting for the next load of gear to be stacked on his trailer.

In the first two days of the operation, he made around 100 round trips each day, shuttling food and water as well as critical rescue supplies. “Right now, I’m waiting on a couple of chainsaws that I’ll bring in for a crew that’s been going at it with handsaws so far.”

In addition to delivering needed supplies, Evan has often found himself moving something even more important: information. “I’ve flagged down medics. I’ve been the guy that goes between Austin EMT and STAR Flight because I’m quicker than cell phones sometimes, people don’t have signal a lot of the time.”

Evan quickly points out that he isn’t the only one helping. “I’ve got an e-bike, but other people are pulling carts. People are walking, people are carrying things. Everyone is doing what they can.” But there’s no doubt that his ability to carry more gear at higher speeds and make hundreds of round-trip journeys so far in and out of the stricken neighborhood has helped impact countless lives.

“This is all volunteers here. They’re just taking it upon themselves to get people where they need to go. I think there’s an umbrella company coming in, taking over tomorrow, but until they get here, people are just taking care of people, which is what you’ve got to do.”

E-bikes proving their worth in emergencies

While many people consider electric bicycles just another form of recreation, they’ve proven to be potent transportation alternatives after natural disasters worldwide.

Not only do their small and efficient batteries make performing hundreds of rescue trips like Evans’ possible, but recharging can be done simply and easily with a solar panel when electricity is out after a disaster. And when gas stations are out of fuel (or simply can’t pump it with the power grid down), e-bikes can keep running while gasoline-powered motorcycles or ATVs run dry.

Electric bicycle batteries have also proven to be a handy source of emergency power after hurricanes and other disasters, often helping owners keep their phones charged up for days to remain in contact with family or rescue services.

While most hope to never need theirs for emergency purposes, electric bicycles have proven their worth in countless disaster scenarios, adding benefits far beyond just alternative transportation, recreation, or fitness riding.

E-bikes can be kept running nearly indefinitely after natural disasters with access to solar recharging equipment

Image credits: CBS Austin (screenshots), used under fair use

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Block leads rebound in fintech stocks as analysts downplay JPMorgan data fee risk

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Block leads rebound in fintech stocks as analysts downplay JPMorgan data fee risk

Twitter CEO Jack Dorsey testifies during a remote video hearing held by subcommittees of the U.S. House of Representatives Energy and Commerce Committee on “Social Media’s Role in Promoting Extremism and Misinformation” in Washington, U.S., March 25, 2021.

Handout | Via Reuters

Block jumped more than 5% on Monday, leading a rally in shares of fintech companies as analysts downplayed the threat of JPMorgan Chase’s reported plan to charge data aggregators for access to customer financial information.

The recovery followed steep declines on Friday, after Bloomberg reported that JPMorgan had circulated pricing sheets outlining potential fees for aggregators like Plaid and Yodlee, which connect fintech platforms to users’ bank data.

In a note to clients on Monday, Evercore ISI analysts said the potential new expenses were “far from a ‘business model-breaking’ cost increase.”

In addition to Block’s rise, PayPal climbed 3.5% on Monday after sliding Friday. Robinhood and Shift4 recorded modest gains.

Broader market momentum helped fuel some of the rebound. The Nasdaq closed at a record, and crypto rallied, with bitcoin climbing past $123,000. Ether, solana, and other altcoins also gained.

JPMorgan announces plans to charge for access to customer bank data

Evercore ISI’s analysts said that even if JPMorgan’s changes were implemented, the most immediate effect would be a slight bump in the cost of one-time account setups — perhaps 50 to 60 cents.

Morgan Stanley echoed that view, writing that any impact would be “negligible,” especially for large fintechs that rely more on debit, credit, or stored balances than bank account pulls for transactions.

PayPal doesn’t anticipate much short-term impact, according to a person with knowledge of the issue. The person, who asked not to be named in order to speak about private financial matters, noted that PayPal relies on aggregators primarily for account verification and already has long-term pricing contracts in place.

While smaller fintechs that depend heavily on automated clearing house (ACH) rails or Open Banking frameworks for onboarding and compliance may face real pressure if the fees take effect, analysts said the larger platforms are largely insulated.

WATCH: Congress moves to redraw $3.7 trillion crypto market rules, opening door to Wall Street

Congress moves to redraw $3.7 trillion crypto market rules, opening door to Wall Street

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EV sales hit 9.1M globally in H1 2025, but the US just hit the brakes

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EV sales hit 9.1M globally in H1 2025, but the US just hit the brakes

The global EV market is still charging ahead. According to new numbers from global research firm Rho Motion, 9.1 million EVs were sold worldwide in the first half of 2025, up 28% compared to the same period last year. But not every region is accelerating at the same pace.

China and Europe are doing the heavy lifting

More than half of the world’s EVs this year have been bought in China. That market hit 5.5 million sales in the first six months of 2025 – a 32% jump year-over-year. Around half of new cars bought in China are now electric.

While some Chinese cities’ subsidies have dried up, Rho Motion expects momentum to pick back up later in the year as more funding is released.

In Europe, 2 million EVs were sold in the first half of the year, up 26%. Battery electric vehicle (BEV) sales also rose 26%, thanks in part to affordable models like the Renault 4 (pictured) and 5 entering the market. Plug-in hybrids (PHEVs) weren’t far behind, growing 27% year-to-date. Chinese automakers are leaning into PHEVs as a way to work around the EU’s new tariffs on BEVs.

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Spain is leading the pack with EV sales soaring 85% so far this year. Its generous MOVES III incentive program was extended in April and has kept sales strong. The UK and Germany are also seeing solid growth – 32% and 40%, respectively. France, however, is slumping. With subsidies cut, EV sales there have dropped 13%.

North America is stuck in the slow lane

Things aren’t looking quite as bright in North America. EV sales in the US, Canada, and Mexico are up just 3% so far this year.

Mexico is the one bright spot, with a 20% boost. The US is up 6%. But Canada is down a whopping 23%.

And things could get bumpier. On July 4, Trump signed Congress’s big bill into law, which axes all the Inflation Reduction Act EV tax credits. Those consumer credits for EVs now officially end on September 30.

Just over half of the EVs sold in the US this year qualified for those credits. Rho Motion predicts a rush in Q3 before the subsidies disappear – and a decline in sales after that.

Rho Motion data manager Charles Lester said, “With Trump’s latest cuts in his ‘Big Beautiful Bill,’ the US could struggle to see any growth in the EV market overall in 2025.”

Global EV sales snapshot, H1 2025 vs H1 2024

  • Global: 9.1 million (+28%)
  • China: 5.5 million (+32%)
  • Europe: 2.0 million (+26%)
  • North America: 0.9 million (+3%)
  • Rest of world: 0.7 million (+40%)

Read more: China breaks records as global EV sales hit 7.2 million in 2025


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