Wall Street Breakfast Podcast: What We Know About The Peace Deal (undefined:BNO)

Listen below or on the go via Apple Podcasts and Spotify

Deal expected to be signed Friday. (0:16) Stocks rise as oil tumbles. (1:07) U.K. announces social media ban. (2:01)

The following is an abridged transcript:

The U.S. and Iran have agreed to a peace deal to end the war, a move that will halt the U.S. blockade and reopen the Strait of Hormuz. But the official text of the memorandum of understanding remains unpublished.

Key details—including long-term access to the Strait of Hormuz, restrictions on Iran’s nuclear program and the situation in Lebanon—have yet to be disclosed.

President Trump told The New York Times he would resume military action if Tehran failed to reach a broader nuclear agreement with the U.S. Negotiations and a formal signing are scheduled for Friday in Switzerland.

According to Iranian state-affiliated Mehr News, the 14-point draft includes an end to the war, including in Lebanon, the withdrawal of U.S. forces around Iran, sanctions relief and reconstruction plans.

But Israeli Prime Minister Benjamin Netanyahu has already rejected a Lebanon-related provision, saying Israel is not bound by that clause.

In reaction, stock-index futures are rallying while oil prices tumble and Treasury yields move lower.

Brent crude (BNO) is down about 5%, while WTI (USO) is also off more than 5%.

Nasdaq 100 futures (US100:IND) lead the advance, up about 2%, while S&P 500 futures (SPX) are up more than 1%.

Anthropic (ANTHRO) is scrambling to restore access to its most advanced AI models, dispatching senior technical staff to Washington for meetings with White House officials, Axios reported.

The Trump administration ordered Anthropic to suspend access to its newly released Fable 5 and Mythos 5 models for foreign nationals, citing national security concerns.

Anthropic said the directive effectively forced it to disable the models for all users worldwide to ensure compliance.

According to Axios, company staff have been holding discussions with administration officials since Friday, while senior technical personnel traveled to Washington for in-person talks aimed at restoring access.

And U.K. Prime Minister Keir Starmer announced a social media ban for children under 16, following a model similar to Australia’s.

“Parents want to keep their kids safe and happy, but the online world has made that harder than ever,” Starmer said. “This is a line in the sand.”

The ban will cover platforms including Snapchat (SNAP), TikTok (TIKTOK), YouTube (GOOGL), Instagram, Facebook (META) and X, while messaging services such as WhatsApp and Signal are exempt.

The government also announced restrictions on livestreaming platforms and said it will explore overnight curfews and limits on infinite scrolling for under-18s.

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And the economic calendar is busy for a Monday as markets prepare for a holiday-shortened week, with Juneteenth on Friday.

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