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• Stock futures declined on Wednesday, led by sharp drops in technology shares, as investors await a critical upcoming inflation report. • Oil prices increased following U.S. "self-defense strikes" against Iran and comments from President Donald Trump stating that Iran has "taken too long to negotiate a deal." • The market volatility reflects growing economic uncertainty regarding inflation and heightened geopolitical tensions in the Middle East.

• Pope Leo XIV shared his soccer preferences during a tour of Spain and the Canary Islands, noting he would have likely supported Peru over the U.S. in the World Cup. • The Pope clarified that Peru did not qualify for the current tournament, removing the conflict of interest regarding his former missionary work in the country. • Regarding the "El Clásico" rivalry, the Pope stated he is "for all teams," while noting that Prevost supports Real Madrid.

• The Delhi High Court has declined an urgent hearing on a plea seeking to stop a protest organized by the satirical "Cockroach Janta Party" scheduled for June 6. • The demonstration aims to demand the resignation of Union Education Minister Dharmendra Pradhan following allegations of irregularities in national exams, specifically the NEET-UG and CBSE board exams. • The movement has gained significant traction online, using satire to highlight grievances regarding the integrity of India's educational assessment systems.

• A geopolitical crisis in the Middle East that began on February 28 has evolved into a global food security emergency, causing rising hunger in Africa and medical shortages in Afghanistan. • Disruptions in the Strait of Hormuz, which previously handled roughly 20% of global oil shipments, have spiked crude oil prices and increased transport and supply chain costs. • The crisis has left hundreds of vessels and tens of thousands of seafarers stranded, creating a broad economic shock.

• Foreign investors are shifting capital away from India and toward North Asian markets, specifically South Korea and Taiwan. • This trend is driven by the global AI investment boom and extraordinary earnings growth in sectors tied to AI-driven capital expenditure. • While India maintains strong long-term growth prospects and healthy earnings, it is currently being sidelined by the immediate global focus on AI infrastructure.

• Stock markets remained rangebound as investors weighed uncertainty regarding Iran talks and a series of artificial intelligence developments. • Alphabet's Class A shares fell 2.2% following the announcement of a massive investment program, which includes $10 billion in backing from Berkshire Hathaway under CEO Greg Abel. • In a significant industry milestone, AI startup Anthropic, the developer of Claude, has confidentially filed for an IPO, beating rival OpenAI to the first step of going public.

• India expanded its defense diplomacy during the Shangri-La Dialogue in Singapore, with Defence Secretary Rajesh Kumar Singh conducting high-level bilateral meetings. • The engagements focused on strengthening security ties and strategic cooperation with senior counterparts from the Netherlands and Australia. • These discussions are critical for enhancing regional stability and diversifying India's defense partnerships across the Indo-Pacific and Europe.