2026-05-26
Court tosses FL's immigrant-license suit. US strikes Iran. SpaceX IPO lifts space stocks.
Good afternoon. Supreme Court rejected Florida's attempt to sue California and Washington over undocumented immigrants' truck licenses. US military struck Iranian targets while peace talks were underway in Doha. Markets rose on hope the ceasefire holds.
Lunch Brief
Florida tried to sue California and Washington for letting undocumented immigrants obtain commercial truck licenses. Supreme Court threw it out. A long-shot bid that landed exactly where long-shot bids do.
Michigan cop tried to dodge a lawsuit from a George Floyd protest incident. Supreme Court said no. The claim survives.
Military hit missile launchers in southern Iran and destroyed Iranian ships laying mines. Central Command called it self-defense. The timing: while negotiators were talking ceasefire in Doha.
Tehran's response arrived while Iranian and Qatari negotiators sat in peace talks. Both sides now reading the same incident two different ways.
State media carried the warning as markets digested the risk. Escalation language paired with negotiation-still-possible body language.
2020 challenge to work-related speaking restrictions. Judges said their free speech rights got trampled. Supreme Court reversed the lower ruling and sided with them.
Markets opened positive on Iran peace-deal hopes despite the strikes. Aerospace names lifted. Eli Lilly vaccine spending also registered.
Cabinet convenes at the presidential retreat as strikes and talks collide. Tulsi Gabbard among attendees.
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"Standard noise. Calibrate accordingly."
"The wire took a breath. Don't get used to it."
Court blocked Florida's suit, US bombed Iran while negotiating with them, markets didn't care.
Back at 6:00 PM ET with the night owl brief.