| Market reaction was generally muted but investors are piling into the dollar. Oil prices initially jumped before paring gains, while stock futures wavered as traders awaited Tehran’s response. Oil remains the primary focus as any interruption to traffic through the Strait of Hormuz raises the specter of a spike in energy prices. Already some tankers are avoiding the waterway. Read our explainer on why it’s so important for crude and natural gas. On the attacks itself, the heart of operation “Midnight Hammer” was a feint. Here’s how the 37-hour mission unfolded, from using decoy B-2 bombers to deploying Tomahawk missiles. Read how independent analysis has yet to verify Trump’s claim that heavily fortified sites were obliterated. The attacks also exposed Iran’s vulnerabilities. Militia groups it armed and funded for years are unable to enter the fight, while Russia and China are offering only rhetorical support. But the country still has resources to inflict pain on the US and the world. Read our Big Take below. In corporate news, Bank of New York Mellon approached Northern Trust about a possible merger in what may be a megadeal for the US financial services industry, the Wall Street Journal reported. Both firms offer services including custody of client assets, wealth and asset management and other banking business. Tesla’s long-promised driverless taxi service is here, finally. The first robotaxi trips were limited to a narrow portion of Tesla’s hometown of Austin, with riders including investors and social-media influencers. Some investors are counting on new markets to revive Tesla following a sales slump and consumer backlash against Elon Musk. Bloomberg Green Seattle: Join us July 14-16 for two days of compelling conversations where we’ll explore the urgent environmental challenges of today and the innovative ideas shaping tomorrow. Featured speakers include Ryan Gellert, CEO of Patagonia, Academy Award-winning actor Jane Fonda and many more. Click here for details. | 
