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Fed's Collins (2028 voter) says watching the extent to which tariffs continue to pass through the price chain and Fed may need to raise rates if inflation pressures broaden in coming months, according to WSJ

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Says:Sees inflation pressures from the Iran war eventually subsiding.

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U.S. Markets

Eli Lilly (LLY) Q2 2026 (USD): Adj. EPS 8.38 (exp. 6.01), Revenue 23bln (exp. 20.7bln)

LLYGeopolitics

Gulf official tells CNN “50:50” chance US and Iran could reach deal by Friday, CNN reports; Iranian delegation does not include IRGC, which would need to sign off on details of provisional agreement

Geopolitics

The draft agreed to by Iranian and Omani negotiators awaits final approval from Iran’s supreme leader, two regional officials told The Associated Press on Wednesday