Geopolitics and Defense - US involvement in the war in Iran reached day 145, with the Pentagon reporting 14 American troops killed after initially reporting 18, following the removal of four casualties from the list because their deaths occurred after an April ceasefire [1] - The House of Representatives adopted a war powers resolution in a 214 to 208 vote directing the US to cease hostilities with Iran, while the Senate failed to advance its own measure in a 49 to 47 vote [1] - Global oil prices surged past $100 per barrel, driven by the war in Iran, and the national average for gasoline rose to $4.10 per gallon compared to $2.89 before the conflict [6][8] Economy and Trade - The Trump administration announced a new wave of 10% and 12.5% tariffs targeting 60 trading partners, alongside a threatened 50% tariff on most Canadian goods including wine and hockey sticks [5][6] - Economic data indicates that 30-year fixed mortgage rates climbed to 6.85%, adding approximately $2,300 per year to mortgage payments and exacerbating affordability pressures [7][8] - Research from Federal Reserve banks and economic analysts shows that 90% of tariffs are passed through to businesses and consumers, keeping inflation nearly one percentage point higher than it would otherwise be [8] Private Equity and Financial Markets - Donald Trump Jr.'s investment firm, 1789 Capital, posted a return of 200%, vastly outperforming the industry average of 20% and rapidly scaling assets under management from $100 million to $3 billion [3] - Prediction market platform Polymarket received a US operating license valued at $300 million when 1789 Capital invested, and the platform's valuation subsequently grew to $15 billion [3] - Jared Kushner's private investment firm previously raised $2 billion from Saudi Arabia's sovereign wealth fund and continues global investments while maintaining active involvement in Middle East diplomatic efforts [3][4] Domestic Politics and Legislation - Polling data for the upcoming midterm elections indicates that Democrats hold an 11-point advantage on the generic congressional ballot, leading Republicans 53% to 42% [4] - Texas Republicans adopted a new party platform calling on lawmakers to protect fetal life from practices such as IVF and commercial surrogacy, drawing opposition from medical providers and constitutional law experts [8][10]