U.S.-Iran Diplomacy: President Trump signed a 14-point U.S.-Iran memorandum of understanding at Versailles, with Iran’s president signing in Tehran; the deal calls for an immediate end to fighting, sanctions relief and asset unfreezing, and a path to reopen the Strait of Hormuz as negotiations continue over the next 60 days. Middle East Shipping & Energy: Maritime data shows major ships have started transiting the strait again, while oil prices and insurance costs react to the prospect of reopening. NATO & Defense: Defense Secretary Pete Hegseth announced a Pentagon review of U.S. forces in Europe as part of a “NATO 3.0” reboot, pressing allies to take more responsibility. Politics & Courts (California): Gov. Gavin Newsom faced backlash after claiming federal inquiries into him and his wife are politically motivated retaliation; DOJ has not confirmed details. Indiana GOP: Indiana Republicans head into a secretary of state nomination fight in Fort Wayne, with delegates rallying behind Max Engling. Economy & Energy (Germany): Germany’s ifo forecasts 0.8% growth in 2026 and 2027 despite higher energy costs. Tech & Chips: Trump says Apple will partner with Intel to design and build chips in the U.S., boosting Intel shares. Health Care (Alabama): A bankruptcy judge denied Jackson Hospital’s bid to force Blue Cross to raise reimbursement rates. Workforce: A new push highlights the widening U.S. skilled trades gap, from electricians to plumbers.