Iran Tensions Spike Oil, OpenAI-Broadcom Deal Hits Snag, Fed Inflation Fears Grow

1. Geopolitical tensions are rising as Iran reportedly fired missiles at 'enemy units' in the Strait of Hormuz, immediately pushing crude oil prices up by over $2.
2. Broadcom shares fell 4% following reports that its $18 billion AI chip deal with OpenAI has hit a financing snag.
3. Fed official Hammack voiced concern that an "inflationary mindset" is starting to become entrenched in people's minds, signaling that tight monetary policy could continue.