President Donald Trump signaled that any renewed U.S. military action against Iran would likely be brief, while reiterating that America maintains control over the strategic Strait of Hormuz. This comes as recent clashes between Washington and Tehran have driven energy prices higher and revived concerns about a prolonged conflict. When asked Wednesday how long bombing operations might last, Trump told reporters, "I don't think it will be too long," comments that helped Brent crude ease back to just above $95 per barrel.

U.S. Trade Representative Jamieson Greer held a closed-door session with House Republicans on Wednesday, as lawmakers grow uneasy over President Trump's trade war with Canada and proposed imports of beef. "It was a good discussion, a spirited discussion," said Rep. Ralph Norman (R-S.C.) afterward, adding that members "expressed concerns about tariffs and the Canada situation." When asked about the potential escalation of the trade dispute, Norman noted, "It's not good, but I think they'll come to a conclusion. I think it'll come to a meaningful result, it might take some time; everyone is aware of the midterms, everyone understands the timeline."

Meta Platforms, Inc. has released its most powerful artificial intelligence model to date, with the company's chief AI officer claiming the new system brings it closer than ever to its top competitors. Developers can now access and pay for Muse Spark 1.3 starting Wednesday, and the company plans to roll out the update to users across Instagram, Facebook, and its Meta AI assistant in the near future.

Microsoft will begin disclosing quarterly revenue for its Azure cloud business for the first time, offering investors a clearer view of how it stacks up against Amazon Web Services and Google Cloud Platform. The change, announced Wednesday in a presentation, is part of a broader overhaul of the company's reporting structure as it consolidates from three operating segments down to two—the first such restructuring since 2015. Azure has been a major beneficiary of the AI boom, as customers flock to major cloud infrastructure platforms to access the models needed to develop new intelligent agents and other tools.

According to two delegates, core OPEC+ members are expected to maintain their planned crude output quotas for October at this weekend's meeting. A group led by Saudi Arabia and Russia has nominally completed the restoration of production paused since 2023, though the Iran conflict has prevented Middle Eastern nations from actually implementing these increases on the ground.

Apollo Global Management LLC Chief Economist Torsten Slok says U.S. Treasury yields are likely to keep climbing, driven by the Iran war and tariffs, with this upward pressure having little to do with fiscal conditions. "Actually, the market has less concern about U.S. policy-making than it does about Japan and Germany," Slok said in an interview Wednesday. Global government financing costs are rising sharply as investors demand higher term premiums on long-dated bonds, and despite Treasury Secretary Scott Bessent's earlier announcement of expanded debt buybacks to ease pressure on the long end, yields have continued to rebound.