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U.S. stocks rose, even though oil prices did too, as financial markets moved more modestly a day after surging on optimism about a ceasefire in the war with Iran. After beginning Thursday with moderate losses following drops for Asian and European stocks, the S&P 500 erased its dip and rose 0.6%. The Dow Jones Industrial Average climbed 0.6%, and the Nasdaq composite added 0.8% after Israel’s prime minister authorized direct negotiations with Lebanon. That eased worries that the two-week ceasefire announced late Tuesday may already be in trouble. Oil prices pared some of their earlier gains but nevertheless remained higher.

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U.S. President Donald Trump repeated his threat to hit Iran’s critical infrastructure hard if the country’s government doesn’t reopen the Strait of Hormuz by his Monday deadline. He said in a profanity-laced social media post Sunday that Tuesday will be “Power Plant Day, and Bridge Day, all wrapped up in one, in Iran.” He also offered details of the rescue of a “seriously wounded” colonel who had been missing since Friday when Iran shot down a U.S. F-15E Strike Eagle. Trump wrote that the Iranian military was “looking hard, in big numbers, and getting close” to the aviator. Trump said the other F-15 pilot had been rescued earlier in “broad daylight” after seven hours over Iran.

AP Top Story Wire
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U.S. President Donald Trump has issued an expletive-filled threat to escalate strikes on Iran if it doesn't open the Strait of Hormuz by his Tuesday deadline. It follows the U.S. rescue of an aviator whose plane was downed by Iran. Trump on Sunday promised strikes on Iran’s power plants and bridges. Iran shows no sign of backing down and has hit targets in Gulf Arab countries. Both sides threaten civilian targets. War crime concerns have been raised.. Diplomatic efforts continue with countries like Oman and Pakistan trying to mediate. The war now in its sixth week has already caused significant casualties and economic disruption.

AP Wire
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Iran has fired more missiles at Israel and Gulf Arab states, demonstrating Tehran’s continued ability to attack. That comes even as U.S. President Donald Trump has claimed the threat from the country has been nearly eliminated. Iran’s strikes on its neighbors along with its chokehold on the Strait of Hormuz have disrupted the world’s energy supplies with effects far beyond the Middle East. Britain held a call Thursday with nearly three dozen countries about how to reopen the strait once the fighting is over. Iran responded defiantly to Trump’s speech to the American people a day earlier. A spokesman for Iran’s military insisted that Tehran maintains hidden stockpiles of arms, munitions and production facilities.

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Iran’s Kharg Island is home to a terminal through which the country exports most of its oil. The Persian Gulf island has emerged as a focus of the month-old war launched by the United States and Israel. Strikes on oil infrastructure on Kharg — or a ground invasion — would severely curb Iran’s oil exports, a key source of revenue for the Islamic Republic. It would also mark a major escalation that could provoke even heavier retaliatory attacks on Gulf infrastructure. That would further drive up oil prices that already threaten the world economy. Other islands near the vital Strait of Hormuz could also be targeted.

AP Wire
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Hundreds of employees at one of the U.S. Navy’s biggest shipbuilding contractors have voted to approve a deal with Bath Iron Works, ending a weeklong strike. The shipyard says members of the Bath Marine Draftsmen’s Association ratified a new four-year collective bargaining agreement Saturday that goes into effect immediately. Approval followed an hourslong union meeting at a high school in Maine. The shipyard and the union had negotiated for weeks without resolving differences before the strike began. The company has not responded to questions about whether the strike slowed production.

AP Top Story
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President Donald Trump has extended his deadline for Iran to reopen the Strait of Hormuz, saying the U.S. will hold off on power plant strikes for five days. Trump made the announcement on his Truth Social site Monday. Shortly after, Iranian state television put up a graphic that read: “U.S. president backs down following Iran’s firm warning.” The reprieve came hours ahead of Trump’s self-imposed deadline later in the day. Trump said the U.S. and Iran have had “very good and productive conversations” that could yield “a complete and total resolution” in the war. He did not elaborate on the diplomatic negotiations that had taken place. The state-owned IRAN newspaper said Iran’s Foreign Ministry denied that any negotiations have taken place with U.S.

AP Wire
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About 3,800 workers for the world’s largest meatpacking company began striking Monday. If they don’t get a new contract soon, already costly beef could become even more expensive for U.S. consumers. The walkout at the Swift Beef Co. plant in Greeley, Colorado, comes after the union said 99% of the workers voted to authorize the strike, seeking higher wages and better health care. Swift Beef owner JBS USA says it complies with labor and employment laws and any employee who doesn’t strike will have work and be paid. Union officials say the company's offer of 2% wage hikes is less than inflation. The company says its offer is fair.

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Georgia’s film industry is struggling. The state’s generous tax credits once turned Atlanta into the Hollywood of the South, drawing hundreds of productions and transforming the local economy. But spending has tumbled from a peak of $4.4 billion in 2022 to just $2.3 billion the last fiscal year. The 2023 writers and actors strikes accelerated the decline, and Marvel has since shifted its productions to the United Kingdom. Many crew members say they’ve struggled to find film work, forcing some to get second jobs or leave the industry entirely. State officials say things are improving and that tax incentives were recently widened to cover newer types of content.