• Oil futures fell dramatically on Tuesday as President Trump strongly tried to maintain a faltering ceasefire between Israel and Iran intact. Regardless of prior accusations of ceasefire violations, Trump insisted that hostilities be ended, urging Israel to cease airstrikes, leading to a dramatic drop in West Texas Intermediate and Brent crude prices.

• Meanwhile, Federal Reserve Chairman Jerome Powell indicated that the central bank needs more time to review if raising tariffs will cause sustained inflation before lowering interest rates, which is usually advocated by President Trump. Powell said that while tariffs will raise prices and put a cap on economic growth, their sustained inflationary effects are still unknown, maintaining the Fed’s “wait-and-see” approach.

• Finally, Tesla’s brand-new robotaxi operation in Austin, which seemed silky smooth during its rollout, is piquing the interest of analysts who are wondering whether the stock’s current multiple already anticipates too-rosy a future for thousands of revenue-capture autonomous Teslas and questioning its “insane” multiple.