Trump plans to name former SEC chair Bill Pulte as acting director of intelligence agencies, sparking showdown with Democrats who block reauthorization of a foreign surveillance program expiring tomorrow. Senate hold to press for withdrawal today.

Democrats argue Pulte lacks qualifications, risk politicizing intel. They leverage program renewal to press for withdrawal. Meanwhile, Trump touts an imminent Iran peace deal, says the Strait of Hormuz will reopen, and cancels planned strikes, significantly lifting the Dow and lowering oil.

Market reaction includes BlackRock ordering at least $5 billion of SpaceX shares ahead of its planned listing; investors worldwide demand stakes, valuing the company at $1.77 trillion. The episode underscores how political appointments can ripple through securities markets, with investors betting on fallout from intelligence leadership changes.