Good morning everyone,

This is one of those mornings where you really need to be paying attention.

CNN is reporting that the US military is ready to strike Iran as early as this weekend.

The Wall Street Journal is confirming that the US has gathered the greatest amount of air power in the Middle East since the 2003 Iraq invasion.

Two Israeli defense officials told the New York Times that significant preparations are underway for a joint US-Israeli operation.

A senior US official called the Iran nuclear talks a "nothing burger." This is not speculation anymore.

Three major news outlets are independently confirming the same thing.

Oil is surging.

Brent just hit $71 for the first time since August.

Gold is back above $5,000 on pure haven demand. BNP, Deutsche Bank, and Goldman are all calling for more upside in gold from here.

Meanwhile, Blue Owl Capital has halted redemptions from a private credit fund, raising contagion fears across the credit space. That is a story that could get a lot bigger.

On top of all that, the FOMC minutes last night were a hawkish surprise. Several Fed officials actually pondered raising rates, not cutting them.

The New York Times is reporting that Trump wants to scrap the USMCA entirely in favor of bilateral deals with Canada and Mexico. Walmart beat modestly this morning but gave cautious guidance, and the stock is down 3 percent.

There is so much to sort through today. I am live at 8:45 ET on Market Masters, and we are going to break it all down together.

Where the risk is, where the opportunity is, and what to do about it.

Come hang out. See you at 8:45.

Stay positive,

Garrett Baldwin