Good morning! Here's the latest in trending:U.S.-Iran pause: Oil hits lowest level in over a week; Trump says having 'good talks' with Tehran.AI talks: Sam Altman will meet lawmakers to discuss OPENAI's rogue AI model and more.CEO exit: Cracker Barrel's (CBRL) iconic Uncle Herschel outlasts CEO Julie Masino.
Wall Street Breakfast
Good morning! Here's the latest in trending:

U.S.-Iran pause: Oil hits lowest level in over a week; Trump says having 'good talks' with Tehran.

AI talks: Sam Altman will meet lawmakers to discuss OPENAI's rogue AI model and more.

CEO exit: Cracker Barrel's (CBRL) iconic Uncle Herschel outlasts CEO Julie Masino.
Top News
Getty Images
As the number of cyclosporiasis cases in the U.S. rises, questions are mounting over the ties between Taylor Farms — the produce supplier linked to the outbreak — and the Trump administration. Nine states have reported cyclosporiasis cases so far, with the Centers for Disease Control and Prevention noting more than 4,100 laboratory-confirmed cases.

Political ties: Rep. Robert Garcia (D-CA), top Democrat on the House Oversight Committee, has demanded answers from Taylor Farms CEO Bruce Taylor on whether the company used its White House connections to interfere with the Food and Drug Administration's investigation into the contaminated food supply. "Taylor Farms donated millions to President Trump, met privately with the White House the night the FDA identified their lettuce as the source of this outbreak, and then reportedly tried to distance themselves from this outbreak," Garcia claimed. "Oversight Democrats are investigating Taylor Farms' role in the national cyclosporiasis outbreak and any further threat to Americans’ health and safety."

Taylor Farms complained to White House and FDA officials about the U.S. government's inspection process earlier this month, a source familiar with the meeting told Reuters. The company has not responded to this claim. "Any notion that the White House or Trump administration would ever compromise on the health and safety of the American people is absolutely false," White House spokesperson Kush Desai said. An FDA probe linked the outbreak to iceberg lettuce served at Taco Bell (YUM) restaurants sourced from Taylor Farms' operations in central Mexico. But the FDA has not confirmed any positive product sample tests for cyclospora and health officials are reportedly searching for other potential sources. Yum! Brands Q2 Preview: All Eyes On The Taco Outlook

Multi-state outbreak: The CDC last week said it received reports of 4,173 lab-confirmed cyclosporiasis cases since May 1 and is aware of over 7,400 additional cases that are not yet confirmed. The outbreak has impacted nine states, led by Michigan with 9,253 reported cases as of Monday. Ohio has more than 2,500 cases confirmed and Kentucky received 468 reports of cases, of which 177 have been confirmed. Taylor Farms said while the FDA has yet to confirm positive results for product testing for cyclospora, the company still went ahead with recalling all iceberg lettuce sourced from central Mexico out of an abundance of caution.  The supplier also suspended iceberg lettuce sourcing and production from the area.
     
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What else is happening...
Boeing (BA) 737 MAX under scrutiny over incorrectly installed seats.

Johnson & Johnson (JNJ) offers up to $5.5B to settle talc lawsuits.

Tyson (TSN), JBS rally as U.S. approves Mexican cattle imports.

SpaceX (SPCX) losses since June peak equal Tesla's valuation.

Anthropic CEO denies seeking ban on open-weight AI models.

EPA: Acid rain rules don't apply to power plants for data centers.

Ford (F) competes with rivals to build Infantry Squad Vehicle.

Pentagon says U.S. drone production still far behind Ukraine.

Shell (SHEL) makes frontier oil discovery offshore Egypt.

Strategy (MSTR) buys back preferred stock instead of bitcoin.
Today's Markets
In Asia, Japan -4%. Hong Kong +0.4%. China -1.2%. India -0.1%.
In Europe, at midday, London +0.5%. Paris +0.3%. Frankfurt +0.1%.
Futures at 6:30, Dow +0.3%. S&P -0.1%. Nasdaq -0.8%. Crude -1.7% to $81.24. Gold -1.5% to $4,016.80. Bitcoin -3% to $63,411.
Ten-year Treasury Yield -3 bps to 4.63%.
On The Calendar

Companies reporting today include Ford (F) and PayPal (PYPL).

See the full earnings calendar on Seeking Alpha, as well as today's economic calendar.

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