Top Overnight News Samsung’s record profit failed to meet the lofty expectations fueled by the AI chip boom sending Nasdaq futures lower. The company’s shares sank 9%, leading a plunge in the Kospi that triggered a circuit-breaker suspension. BBG AI giants OpenAI, Anthropic, and others are offering extremely aggressive discounts in computing power to win business from startups. WSJ Iran’s Islamic Revolutionary Guard Corps fired missiles at two commercial ships near the Strait of Hormuz early Tuesday, according to a senior America. official, marking an escalation that threatens to complicate negotiations to end the America.-Iran war. WSJ The boss of the world’s biggest freight forwarder has said using land routes to transport goods into the Gulf is not a sustainable alternative to voyages through the Strait of Hormuz because of extra costs and delays. FT China has stepped up its purchases of oil from producers in the Middle East in recent days, with deep discounts offered by its main supplier Saudi Arabia on Monday seen as likely to boost its buying. FT Japan’s 30-year bond sale drew its strongest demand since 2019. BBG Belarus’s president Alexander Lukashenko has said his army will not take part in Russia’s invasion of Ukraine, seemingly dismissing Kyiv’s fears that Moscow was pressuring Minsk to join its war effort. FT SpaceX won bullish ratings from at least six Wall Street brokers after its IPO quiet period ended. BBG Airlines are finally getting some relief at the jet-fuel pump. Fliers may not share in the savings, though. Jet-fuel prices doubled in the weeks after the Iran war started, and carriers raised fares to keep up. Now fuel prices are down 40% from their peak in April, but analysts say fares aren’t likely to follow because travelers keep paying up. WSJ Trump posted on Truth Social, calling on senators to pass Reconciliation 3.0.