{"id":61561,"date":"2026-05-04T09:38:17","date_gmt":"2026-05-04T13:38:17","guid":{"rendered":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/us-asserts-control-over-strait-of-hormuz-as-bessent-signals-iranian-economic-collapse-gamestop-bids-for-ebay\/61561\/"},"modified":"2026-05-04T09:38:17","modified_gmt":"2026-05-04T13:38:17","slug":"us-asserts-control-over-strait-of-hormuz-as-bessent-signals-iranian-economic-collapse-gamestop-bids-for-ebay","status":"publish","type":"post","link":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/us-asserts-control-over-strait-of-hormuz-as-bessent-signals-iranian-economic-collapse-gamestop-bids-for-ebay\/61561\/","title":{"rendered":"US Asserts Control Over Strait of Hormuz as Bessent Signals Iranian Economic Collapse; GameStop Bids for eBay"},"content":{"rendered":"<h2>Key Takeaways<\/h2>\n<ul>\n<li><strong>The U.S. has initiated &quot;Project Freedom,&quot;<\/strong> deploying guided-missile destroyers to the <strong>Strait of Hormuz<\/strong> to restore commercial shipping transit and assert full control over the waterway.<\/li>\n<li><strong>Treasury Secretary Bessent reports that Iran\u2019s economy is &quot;collapsing&quot;<\/strong> and has urged global partners, specifically <strong>China<\/strong>, to increase diplomatic pressure to end regional conflict.<\/li>\n<li><strong>GameStop (<a href=\"\/stock\/GME\">GME<\/a>) has made an unsolicited acquisition offer for eBay (<a href=\"\/stock\/EBAY\">EBAY<\/a>)<\/strong>, a move that the eBay board is currently evaluating with financial advisors.<\/li>\n<li><strong>OpenAI has secured over $14 billion<\/strong> through a new joint venture and private equity partnerships to accelerate the implementation of enterprise AI software.<\/li>\n<li><strong>Energy markets remain volatile<\/strong> as <strong>QatarEnergy<\/strong> extends its force majeure on LNG supplies until mid-June, though the U.S. anticipates gas prices will &quot;drop rapidly&quot; once the current conflict subsides.<\/li>\n<\/ul>\n<h2>U.S. Military and Economic Pressure on Iran<\/h2>\n<p>U.S. Treasury Secretary <strong>Scott Bessent<\/strong> announced today that the United States has successfully asserted &quot;full control&quot; over the <strong>Strait of Hormuz<\/strong>. In a series of statements, Bessent confirmed that the <strong>U.S. Navy<\/strong> has deployed guided-missile destroyers as part of <strong>&quot;Project Freedom&quot;<\/strong> to escort commercial vessels and ensure the waterway remains open. He emphasized that the <strong>Iranian government<\/strong> does not control the passage and warned that the U.S. will respond with force only if directly attacked.<\/p>\n<p>Bessent characterized the <strong>Iranian economy<\/strong> as being in a state of collapse, suggesting that now is the optimal time for global partners to intensify economic sanctions. He revealed that <strong>President Trump<\/strong> and <strong>President Xi<\/strong> have discussed the Iranian situation in recent phone calls, with the U.S. specifically urging <strong>China<\/strong> to ramp up diplomatic efforts. Despite current volatility, Bessent assured American consumers that gas prices will fall quickly as the market becomes &quot;plenty supplied&quot; following the end of hostilities.<\/p>\n<h2>Corporate Shakeups: GameStop Bids for eBay, OpenAI Scales<\/h2>\n<p>In a move that stunned the retail and e-commerce sectors, <strong>GameStop (<a href=\"\/stock\/GME\">GME<\/a>)<\/strong> has issued an unsolicited offer to acquire <strong>eBay (<a href=\"\/stock\/EBAY\">EBAY<\/a>)<\/strong>. While the terms of the deal have not been disclosed, eBay confirmed it had no prior discussions with the gaming retailer and that its board will evaluate the proposal. The news marks a significant pivot for GameStop as it seeks to expand its footprint in the broader secondary market and digital commerce space.<\/p>\n<p>Simultaneously, <strong>OpenAI<\/strong> has solidified its dominant position in the artificial intelligence sector by securing more than <strong>$14 billion<\/strong> in new capital. This includes a <strong>$4 billion joint venture<\/strong> to help businesses integrate AI software and a <strong>$10 billion partnership<\/strong> with private equity firms. The massive capital infusion is intended to scale the deployment of AI technologies across global industries as competition for enterprise dominance intensifies.<\/p>\n<h2>Trade Investigations and Tech Restrictions<\/h2>\n<p><strong>U.S. Trade Representative (USTR) Greer<\/strong> stated that the administration expects to conclude several major trade investigations by this summer. Greer noted that <strong>tariff revenue<\/strong> remains a significant component of U.S. fiscal policy and mentioned that the government is monitoring how companies apply for tariff refunds. In Europe, <strong>France\u2019s Finance Minister Lescure<\/strong> expressed a willingness to continue working in &quot;good faith&quot; on a trade deal with the U.S., confirming that no tariffs will be imposed on the <strong>United Kingdom<\/strong>.<\/p>\n<p>In the technology sector, <strong>Alphabet (<a href=\"\/stock\/GOOGL\">GOOGL<\/a>)<\/strong> is facing scrutiny as the <strong>New York Times<\/strong> reports that its <strong>Tensor Processing Units (TPUs)<\/strong> are currently prohibited from use in certain classified government environments. The U.S. government is reportedly looking for ways to speed up the approval process for these chips to bolster national AI capacity. This follows a high-level meeting between federal officials and Alphabet leadership last Thursday to discuss AI infrastructure.<\/p>\n<h2>Global Energy and Regional Security<\/h2>\n<p>The <strong>United Arab Emirates (UAE)<\/strong> issued a brief missile danger alert for <strong>Dubai<\/strong> earlier today, causing a temporary spike in regional tension. The alert was cleared shortly after, with officials declaring the area safe. However, the logistical impact of regional instability continues to be felt; <strong>QatarEnergy<\/strong> has extended its <strong>force majeure<\/strong> on liquefied natural gas (LNG) supplies through mid-June, further tightening global supply chains.<\/p>\n<p>Shipping giant <strong>Maersk (<a href=\"\/stock\/MAERSKB\">MAERSKB<\/a>)<\/strong> has expressed formal support for the U.S.-led plan to navigate ships through the Strait of Hormuz. The company stated it would integrate U.S. security evaluations into its continuous operational planning. Meanwhile, the <strong>U.S. Energy Department<\/strong> has set a strict deadline of 2 PM ET today for companies to submit requests for supply from the <strong>Strategic Petroleum Reserve (SPR)<\/strong> to mitigate immediate energy shortages.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Key Takeaways The U.S. has initiated &quot;Project Freedom,&quot; deploying guided-missile destroyers to the Strait of Hormuz to restore commercial shipping 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