ECB's Makhlouf says he has not yet seen second-round effects; does not rule out their existence; any Iran peace deal will be a factor in rate decisions; unlikely to clearly signal a return to pre-war conditions

PayPal (PYPL) management says needs to modernize its tech stack, become "AI-native" and reduce our cost structure so savings can be reinvested to accelerate growth

Iran security council's Bagheri says Iran and Oman are negotiating a new procedure for ships to pass through the Strait of Hormuz, with conditions set to differ from before the conflict began, IRNA reports

ECB's Makhlouf says he has not yet seen second-round effects; does not rule out their existence; any Iran peace deal will be a factor in rate decisions; unlikely to clearly signal a return to pre-war conditions

PRIMER - Today’s Fedspeak includes Cook, Jefferson, Goolsbee

Lululemon (LULU) comfirms it has reached a settlement with founder Chip Wilson, who has put forward three board nominees, Bloomberg reports