Trump’s ceasefire gives Iran control of the Strait of Hormuz—and Mojtaba Khamenei is reportedly alive

Good morning. On Fortune’s radar today:

• Markets: Oh happy day.
• Trump’s ceasefire gives Iran control of Hormuz.
• Supermicro launches probe into cofounder’s Nvidia chip-smuggling arrest.
• Project Glasswing: Anthropic’s new anti-hacker initiative.
• Luxury spending trends up.
• Global governments ranked by biggest sighs of relief.

This story was originally featured on Fortune.com