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Dow rallies 1,000 points, S&P 500 tops 7,100 for the first time after Iran declares Strait of Hormuz open: Live updates CNBCOil plunges 13%, Dow soars 1,000 points after Iran says Strait of Hormuz is ‘completely open' during ceasefire CNNShipowners and Oil Traders Wary as Iran Says Hormuz Fully Open Bloomberg.comIran reopens Strait of Hormuz, but Trump says blockade on Iranian ships and ports will stay in force AP News
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President Trump welcomed the announcement, but U.S. officials said the naval blockade on vessels leaving from and going to Iranian ports remains in effect.
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U.S. inflation is going to get worse before it gets better, but price increases tied to the Iran war could start to evaporate during the summer and open the door for the Federal Reserve to cut interest rates again.
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China steps up Iran diplomacy while seeking smooth summit with Trump ReutersWhy China Isn't Pushing Iran to Accept U.S. Demands to End War The New York TimesThe Iran War Is a Win for China Foreign AffairsThe Iran war is not about China Atlantic CouncilHow China Is Positioning Itself Ahead of the Trump-Xi Summit The Diplomat - Asia-Pacific
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Also in today's newsletter: Israel agrees to ceasefire in Lebanon, and Netflix founder to step down from board
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Airlines have raised airfare, fuel surcharges and baggage fees this year to help cover a surge in fuel costs since the Iran war started on Feb. 28.
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Exports and fiscal stimulus offset a still weak domestic economy in the first quarter
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China's export growth slowed in March as manufacturers grappled with surging energy costs, with the Iran war disrupting supplies, while imports jumped more than expected.
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The gauge released Thursday offers the Federal Reserve a snapshot of conditions leading into the Iran war.
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The airline's strategy involves three key moves to offset the Iran war-driven fuel spike, and CEO Ed Bastian says it's already working.
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