Bonds & Stocks
Wall Street traders paced a cautious rebound in stocks as technology giants climbed, though lingering worries about an escalation of the Middle East conflict whipsawed the oil market. The S&P 500 rose 0.4%. The yield on 10-year Treasuries declined three basis points to 4.52%.
Economy
The European Central Bank raised interest rates for the first time in almost three years, concluding it can no longer wait out the Iran war as inflation pressures intensify. The deposit rate was lifted to 2.25% from 2%, as anticipated by economists and investors who foresee another quarter-point move in September.
World
President Donald Trump said the US would strike Iran again Thursday and sought to crank up pressure on the Islamic Republic to reach a deal by threatening to take control of key energy infrastructure in the country.