The White House has announced that U.S. President Donald Trump will deliver an address to the nation to provide an update on the Iran war, which has been a month-long military operation. The president has reportedly expressed a willingness to end the war without reopening the Strait of Hormuz, and has criticised European allies for not participating in the war. This news is welcome news for global markets, with Asia-Pacific markets rebounding overnight and European bourses expected to rally at the open on Wednesday. Meanwhile, Oracle is cutting thousands of jobs as it continues to ramp up its AI spending, amid concerns about competitive risk from generative artificial intelligence models. The company is also facing pressure from investors about the amount of debt it's raising for AI investments and its dwindling cash flow.