Deal or no deal? Iran outlines draft terms; SpaceX hits Wall Street
President Donald Trump says a deal with Iran is nearly complete. Tehran is discussing reopening the Strait of Hormuz, but it’s still refusing to confirm that the agreement is final.
Plus, Trump’s controversial intelligence pick creates a Capitol Hill headache, and now he’s moving to replace him before a key surveillance deadline hits.
And SpaceX begins trading Friday in what could become the biggest IPO ever. The debut could make Elon Musk the world’s first trillionaire, and quickly land the stock in millions of retirement accounts.
These stories and more highlight your Unbiased Updates for Friday, June 12, 2026.
Trump claims Iran deal is close, but Iran says no final agreement exists
After threatening more strikes just hours earlier, President Donald Trump said a peace deal with Iran could be just days away, calling it a great settlement of the war with Iran.
Trump claimed Iran’s supreme leader, Ayatollah Mojtaba Khamenei, has agreed in principle to a framework for peace that would extend the ceasefire and reopen the Strait of Hormuz.
It’s a sharp turn from Thursday morning, when the president warned of new attacks and even floated the possibility of taking Kharg Island, the hub for most of Iran’s oil exports.
“It’s a very strong memorandum of understanding that is a little conceptual, but it’s something that’s going to get done. And if it doesn’t get done for any reason, which I can’t imagine that not happening, they want to sign it as much as I do or more. I would say they want to sign it more, maybe a lot more, but it’s a very detailed memorandum of understanding, also agreed to by many other countries that have great influence over them, and everybody wants it done. So, it’s going to get done.”
President Donald Trump
Trump said Vice President JD Vance could travel to Europe within days for a signing ceremony.
The proposed framework, a 14-point document, would reportedly extend the ceasefire by 60 days, reopen shipping through the Strait of Hormuz, and ease some sanctions on Iran while negotiations continue.
But as of Friday morning, Tehran has not confirmed the deal. Iran’s foreign ministry said no final agreement has been approved and accused Washington of repeatedly changing its demands.
That skepticism follows a week of escalation that saw U.S. warships fire Tomahawk missiles at Iranian targets. Iran responded with attacks around the Gulf, and shipping through the Strait of Hormuz remains heavily disrupted.
For now, questions remain about whether this is a breakthrough or just the latest step in a negotiation that has repeatedly appeared close before falling apart.
Trump nominates Jay Clayton for top spy role after Pulte concerns
After days of pushback from both parties, Trump has a new pick to lead the nation’s intelligence agencies.
Trump announced Thursday he will nominate Jay Clayton, the current U.S. Attorney in Manhattan and former SEC chairman, to serve as director of national intelligence.
In a Truth Social post, the president called Clayton “highly respected” and urged the Senate to confirm him as quickly as possible.
The move comes after a bipartisan backlash over Trump’s plan to install housing official Bill Pulte as acting DNI.
Lawmakers from both parties questioned Pulté’s qualifications, and the dispute helped derail efforts to extend Section 702, a key U.S. surveillance authority that is now set to expire at midnight Friday. The House rejected a short-term extension Thursday, leaving Congress with few options to prevent the program from lapsing.
Trump said Pulte will still serve as acting DNI until Clayton’s confirmation.
“He’s only there for a little while,” Trump said. “He’s running it for a short while while we get a very talented person, Jay Clayton, in, as you know.”
The Clayton nomination was reportedly recommended by CIA Director John Ratcliffe.
‘86 47’ appears on National Mall, sparking federal investigation
Federal investigators are trying to determine who left a giant message in the grass on the National Mall and whether it was intended as a political statement or something more.
From ground level, it just looks like a few patches of brown grass. But from high above the National Mall, the markings appear to form the numbers “86 47” near the World War II Memorial.
The numbers aren’t easy to see. The eight is the clearest, while the four below it is much harder to make out.
Somebody spotted the markings Thursday from the top of the Washington Monument. Shortly after the discovery, U.S. park police, National Guard members and other federal officials responded to the area.
Investigators collected grass samples and said they are still trying to determine what caused the discoloration or who may be responsible. A spokesperson for the Interior Department called it vandalism and said any threat against the president will be taken seriously.
The numbers have become politically charged in recent years.
Last year, former FBI director James Comey posted a photo of seashells arranged to spell “86 47.”
Trump allies and federal prosecutors have argued that the phrase can be interpreted as a threat against Trump, with “86” meaning to get rid of the nation’s 47th president.
Comey removed the post, saying he never intended it as a threat. He has pleaded not guilty to federal charges stemming from the case.
The investigation comes as the National Mall prepares for a series of events tied to America’s 250th anniversary celebration later this month.
Boelter accepts life in prison for Minnesota state legislator attacks
The man accused of carrying out one of the most shocking acts of political violence in recent U.S. history has now admitted to the crime.
Vance Boelter pleaded guilty Thursday to federal charges in the murders of former Minnesota House Speaker Melissa Hortman and her husband, Mark, and the shooting of state Sen. John Hoffman and his wife.
In court, Boelter acknowledged he spent months planning the attacks, researched his targets and disguised himself as a police officer before showing up at their homes.
Prosecutors said he shot and killed the Hortmans after gaining access to their home by claiming to be police conducting a welfare check.
Boelter also admitted shooting Sen. John Hoffman and his wife, Yvette, multiple times. Both survived. Their daughter locked the door after the attack, preventing further bloodshed.
After the hearing, the Hoffman family said in part: “There is no justice for Mark and Melissa Hortman. While the legal process may provide accountability, true healing requires something more from all of us.”
In exchange for the guilty plea, federal prosecutors agreed not to seek the death penalty.
Boelter is expected to receive two consecutive life sentences plus 40 years in prison, though he still faces separate murder charges in Minnesota state court.
SpaceX sets IPO record, expected to raise $75 billion
Elon Musk’s SpaceX is about to blast off into the Wall Street record books. SpaceX begins trading Friday in what is expected to be the largest initial public offering in history.
The company is raising about $75 billion, with shares priced at $135 each and more than 555 million shares hitting the market. The offering is also a major test of investor appetite for Elon Musk, who has tied SpaceX’s future not only to rockets and satellites but also to artificial intelligence.
Teams are go for launch with a $135 price per share for the SpaceX IPO → https://t.co/HlsF4GxRbI— SpaceX (@SpaceX) June 11, 2026
The deal would value SpaceX at nearly $1.8 trillion and make Musk the world’s first trillionaire on paper. He will also retain about 82% of the company’s voting power, giving him firm control of its future direction.
Wall Street is already paying close attention, with research from Oppenheimer and New Street among the first to cover the stock.
UFC takes over White House
The White House South Lawn has now been transformed into a UFC venue. By Sunday night, the president’s backyard will look more like Las Vegas than Washington.
A temporary arena will host seven fights as part of the nation’s 250th-birthday celebration, which coincides with Trump’s 80th birthday. The setup includes a full-size octagon, giant video screens, lighting towers, large signs and a massive overhead structure known as “The Claw.”
Organizers expect more than 4,000 people in the arena, with tens of thousands more watching from the ellipse.
Opponents have filed a lawsuit trying to delay or stop the event, arguing it needs additional review and permits, but the White House has dismissed those claims as baseless.
Court filings put the production cost at more than $60 million. White House officials said UFC is paying for the show, while the federal government is handling security, traffic control and emergency services.
Pulling it off is a massive operation. Crews have been screening dozens of trucks a day, hundreds of contractors are on site and security will include road closures, fencing, barricades and Secret Service screening, much like at airports.
More from Straight Arrow:
What happens when the traditional teen job disappears?
Luan Leao isn’t interested in flipping hamburgers or stocking shelves.
The 15-year-old Brazilian immigrant wanted to spend this summer at an internship in tech.
But even experienced engineers have struggled to find jobs amid widespread layoffs in the industry. A high school freshman with no work experience or connections?
Not a chance.
“The places I did find, I think they were looking for an older student who could spend more time,” Luan told Straight Arrow. “And this wasn’t their first job.”
So he created his own opportunity. Luan taught himself how to build websites and apps for businesses. One of his first clients was his mother, Stefania Leao, an influencer with 52,000 TikTok followers.
Ella Rae Greene, Editor In Chief
