US Pauses Strikes on Iran Over Munition Shortage Concerns

News when you want it with Bloomberg News now. I'm Monica Rix. The U.S. has paused its almost two week run of strikes against Iran amid concerns, according to The New York Times, that ramping up this war could dangerously drain the Pentagon's air defense munitions stockpile. It also comes as President Trump faces mounting pressure now to end the war. Bloomberg White House correspondent Courtney Subramanian has more from Washington. There's great frustration, of course, within this administration about where things are at.

One thing I had been told consistently over the last few months was that Republicans had hoped this would wrap by this point, because of the midterm elections in November and because of some of the messaging they have to take home. So, you know, increasingly, as we see more, the nations get wrapped up into this, I think the president is under immense pressure to find some sort of solution to return to the negotiating table. Subramanian on Bloomberg this weekend. And Israeli Prime Minister Benjamin Netanyahu says he plans to press President Trump in their meeting this week in Washington to keep a constant watch on Iran's nuclear program.

If he can do so without returning to intense military fighting, that's fine. Why not? But one way or the other, they have to end their nuclear program. And with a deal or without a deal, that has to come to an end. Netanyahu on Fox News. Trump says the U.S. is also locked and loaded for major strikes on Iran, but suggested he'd wait for diplomatic talks to play out. Ukrainian President Volodymyr Zelensky is also meeting with President Trump at the white House on Tuesday, and will likely discuss it's war with Russia.

He'll be in Washington to attend Senator Lindsey Graham's funeral. Zelensky had been close with the South Carolina Republican who'd visited Ukraine just days before his death two weeks ago. Baby. Your son, your wife. Meantime, Katy Perry denounced the white House this weekend for using her song firework in a social media video that showed footage of military attacks with the caption Iran has been warned. The pop star says it didn't have permission, and using that song to soundtrack destruction and violence is a complete violation of everything it stands for.

Germany says it believes yesterday's Berlin pride attack was Islamic extremist terror. Authorities there are still searching for the 21 year old suspect who rammed his van into a crowd, killing one person and injuring 16 others. Prosecutors say the 21 year old, identified only as Abdul B, had sought to join ISIS. Australian Prime Minister Anthony Albanese says he plans to appeal directly to Trump over new tariffs announced by Washington this week that he calls unjustified. Albert says Australia has very strong provisions on modern slavery, and tariffs will not only lead to higher costs in the U.S., but undermine their trading relationship.

The Prime Minister has called for an end to the war in Iran, which has led to higher energy prices and plans to make an announcement soon on fuel. Meantime, from Washington to London to Tokyo, central bankers are set to reveal their worries about the return of oil to about $100 a barrel this week, with G7 rate decisions. Bloomberg's Andrew O'Day says that starts with the Federal Reserve on Wednesday, even as financial markets increasingly predict that borrowing costs will be higher by the end of this year.

Economists are still expecting the Fed Reserve's next move on interest rates will be a cut. Forecasters in a Bloomberg survey say the US central bank, cutting its benchmark rate by a quarter percentage point in the third quarter of next year. Well, that's later than last month's survey. It contrasts with views from policymakers and investors who have suggested rate hikes may be on the horizon. Andrew O'Day, a Bloomberg radio. Wall Street's looking ahead to mega-cap earnings this week with spotlights on meta, Apple, Amazon and Microsoft.

Kara Murphy is president of Kester Investment Management and tells us investors are focused on AI CapEx plans. Last year, it was a little bit different. We're a bit earlier in the cycle. The numbers weren't quite as big. This year we moved forward. We know a little bit more about how people are using AI. We also know it's going to be a little bit before we start seeing returns on it. So the market is saying maybe we need to slow this pace a little bit. That's Kester Investments, Kara Murphy.

She says investors are also concerned about higher energy prices, but that may be a little harder for the market to analyze. Unless there's a peace deal in the Middle East soon and oil prices start receding. Emergency workers evacuated thousands more people overnight in France and Spain as dry, windy conditions continue fueling raging wildfires. Today's tour de France will also be about 30 miles shorter, due to a lack of officers who've been deployed to fight the fires.

Typhoon Noul made landfall today in southern China. That storm's bringing strong winds and heavy rain to the region, displacing more than 70,000 people. And that's news when you want it with Bloomberg News now. I'm Monica Rix and this is Bloomberg.