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**IRAN SAYS IT REACHED 'SO-CALLED CEASEFIRE CONSENSUS' WITH U.S.; U.S. REPRESENTED ISRAEL IN WAR, BAGHAEI SAYS** Iranian Foreign Ministry spokesman Baghaei said Wednesday (May 4) that Iran and the United States have reached a so-called ceasefire consensus. The U.S. explicitly stated in its own remarks that it was representing Israel in the conflict, Baghaei added. He emphasized that any future ceasefire agreement or arrangement to end the war from ongoing negotiations must include U.S. commitments extending to its regional "proxy" — Israel. Additionally, Baghaei noted Iran’s policy toward Israel remains unchanged: it still does not recognize the Israeli regime. (Source: Wall Street CN)

On May 4th, Morgan Stanley strategist Michael Wilson noted that strong U.S. corporate profits—especially in the booming tech sector—have overshadowed concerns about Middle East conflict weighing on stocks. In a report, Wilson’s team said S&P 500 earnings expectations have been revised upward multiple times over the past month. Q2 earnings forecasts are up 2%, while full-year 2026 and next 12-month earnings outlooks have risen 3% and 4% respectively, per Jinse.

On May 4, following reports that Iran targeted a U.S. military vessel, S&P 500 futures dropped 0.55%, Dow Jones futures fell 0.73%, and Nasdaq 100 futures declined 0.51%. Crude oil prices extended gains, with Brent crude topping $111 per barrel (up 3.75% intraday) and WTI crude surging 5.54% on the day.

**Headline: Iranian Missiles Strike U.S. Warship, Fars News Reports (May 4)** Iran’s Fars News Agency said Thursday, May 4, that two Iranian missiles hit a U.S. warship near Iran’s Jask Port. The agency claimed the vessel violated maritime traffic and navigational safety rules while attempting to transit the Strait of Hormuz. It added the warship ignored warnings from the Iranian Navy before being targeted. The strike disabled the warship, forcing it to retreat and leave the area, Fars reported. The U.S. has not yet issued a response to the reported incident.

On May 4, Bitget market data shows: - Brent crude surged above $110/bbl, up 2.27% intraday; - WTI crude jumped 4% intraday, last trading at $106.26/bbl; - Spot silver plunged 3% intraday, last at $73.47/oz; - Spot gold dropped below $4,570/oz, down 1.06% intraday. News update: Iran’s Fars News Agency reported two missiles struck a U.S. warship.

**May 4 (via AXIOS) —** U.S. President Trump is frustrated with the Iran stalemate of “no deal, no war,” and his efforts to break the impasse could ultimately reignite conflict. A senior U.S. official said: “The President wants to act. He doesn’t want to sit on his hands. He wants to apply pressure. He wants a deal.” Last Thursday night, Trump reviewed a plan to force Navy ships through the Strait of Hormuz—but at the last minute, he chose a more cautious path, at least initially. Starting Monday, the U.S. Navy will help guide U.S.-flagged and other commercial vessels through the strait, instructing them on mine avoidance and preparing to intervene if Iran attacks. U.S. officials note there’s no current plan for full naval escorts; instead, Navy ships will be “on standby” in the area, alongside U.S. military aircraft.