{"id":64459,"date":"2026-07-08T17:38:15","date_gmt":"2026-07-08T21:38:15","guid":{"rendered":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/trump-challenges-birthright-ruling-us-intensifies-iran-strikes-rbnz-hikes-rates\/64459\/"},"modified":"2026-07-08T17:38:15","modified_gmt":"2026-07-08T21:38:15","slug":"trump-challenges-birthright-ruling-us-intensifies-iran-strikes-rbnz-hikes-rates","status":"publish","type":"post","link":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/trump-challenges-birthright-ruling-us-intensifies-iran-strikes-rbnz-hikes-rates\/64459\/","title":{"rendered":"Trump Challenges Birthright Ruling; US Intensifies Iran Strikes; RBNZ Hikes Rates"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_84 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 eztoc-toggle-hide-by-default' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"#\" data-href=\"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/trump-challenges-birthright-ruling-us-intensifies-iran-strikes-rbnz-hikes-rates\/64459\/#Key_Takeaways\" >Key Takeaways<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"#\" data-href=\"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/trump-challenges-birthright-ruling-us-intensifies-iran-strikes-rbnz-hikes-rates\/64459\/#Trump_to_Seek_Supreme_Court_Rehearing_on_Citizenship\" >Trump to Seek Supreme Court Rehearing on Citizenship<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"#\" data-href=\"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/trump-challenges-birthright-ruling-us-intensifies-iran-strikes-rbnz-hikes-rates\/64459\/#US_Military_Escalates_Strikes_Against_Iran\" >U.S. Military Escalates Strikes Against Iran<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"#\" data-href=\"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/trump-challenges-birthright-ruling-us-intensifies-iran-strikes-rbnz-hikes-rates\/64459\/#RBNZ_Shifts_to_Hawkish_Stance_with_Surprise_Hike\" >RBNZ Shifts to Hawkish Stance with Surprise Hike<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"#\" data-href=\"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/trump-challenges-birthright-ruling-us-intensifies-iran-strikes-rbnz-hikes-rates\/64459\/#Eli_Lilly_Signals_Heavy_Q2_R_D_Charges\" >Eli Lilly Signals Heavy Q2 R&amp;D Charges<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"#\" data-href=\"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/trump-challenges-birthright-ruling-us-intensifies-iran-strikes-rbnz-hikes-rates\/64459\/#Regional_Infrastructure_and_Energy_Impact\" >Regional Infrastructure and Energy Impact<\/a><\/li><\/ul><\/nav><\/div>\n<h2><span class=\"ez-toc-section\" id=\"Key_Takeaways\"><\/span>Key Takeaways<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<ul>\n<li><strong>President Trump<\/strong> announced an immediate bid for a <strong>U.S. Supreme Court<\/strong> rehearing on birthright citizenship after a recent 6-3 defeat, signaling a major legal escalation.<\/li>\n<li><strong>U.S. Central Command (CENTCOM)<\/strong> launched over <strong>80 precision strikes<\/strong> against Iranian targets, with officials warning that upcoming operations will exceed Tuesday&#39;s scale.<\/li>\n<li>The <strong>Reserve Bank of New Zealand (RBNZ)<\/strong> unexpectedly raised its <strong>Official Cash Rate (OCR)<\/strong> by 25 basis points to <strong>2.50%<\/strong>, its first hike in three years.<\/li>\n<li><strong>Eli Lilly (<a href=\"\/stock\/LLY\">LLY<\/a>)<\/strong> projected a significant <strong>$3.02 per share<\/strong> charge for Q2 2026 related to acquired In-Process Research and Development (IPR&amp;D).<\/li>\n<li>Global energy markets are on high alert as <strong>Brent crude<\/strong> spiked over <strong>5% to $78 per barrel<\/strong> following the breakdown of the U.S.-Iran ceasefire.<\/li>\n<\/ul>\n<h2><span class=\"ez-toc-section\" id=\"Trump_to_Seek_Supreme_Court_Rehearing_on_Citizenship\"><\/span>Trump to Seek Supreme Court Rehearing on Citizenship<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><strong>U.S. President Donald Trump<\/strong> confirmed on Wednesday that his administration will seek an immediate rehearing by the <strong>U.S. Supreme Court<\/strong> regarding birthright citizenship. This move follows a landmark June ruling where the Court, led by <strong>Chief Justice John Roberts<\/strong>, struck down an executive order that attempted to limit citizenship rights for children born in the U.S. to non-citizen parents. Trump\u2019s legal team is expected to argue that the 14th Amendment has been misinterpreted for decades, despite the Court\u2019s recent 6-3 decision reaffirming long-standing precedent.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"US_Military_Escalates_Strikes_Against_Iran\"><\/span>U.S. Military Escalates Strikes Against Iran<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>The <strong>U.S. military<\/strong> has significantly intensified its campaign against <strong>Iran<\/strong> following attacks on commercial vessels in the <strong>Strait of Hormuz<\/strong>. <strong>CENTCOM<\/strong> reported hitting over <strong>80 targets<\/strong>, including 60 small boats belonging to the <strong>Islamic Revolutionary Guard Corps (IRGC)<\/strong>, missile launch sites, and command centers. Sources indicate that ongoing strikes are expected to surpass the scale of Tuesday&#39;s operations as <strong>President Trump<\/strong> declared the previous ceasefire agreement &quot;over.&quot; Iranian state media reported multiple explosions in the port cities of <strong>Bandar Abbas<\/strong>, <strong>Sirik<\/strong>, and <strong>Jask<\/strong>, with critical infrastructure including power lines sustaining damage.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"RBNZ_Shifts_to_Hawkish_Stance_with_Surprise_Hike\"><\/span>RBNZ Shifts to Hawkish Stance with Surprise Hike<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>In a move that caught some market participants off guard, the <strong>Reserve Bank of New Zealand (RBNZ)<\/strong> raised the <strong>OCR<\/strong> to <strong>2.50%<\/strong>. Governor <strong>Anna Breman<\/strong> reiterated a neutral rate range centered on <strong>3%<\/strong>, stating that the domestic economy remains resilient despite recent fuel shocks. The <strong>Monetary Policy Committee<\/strong> reached a consensus on the hike to combat persistent inflation, which remains above the 1-3% target range. Analysts now expect the OCR to reach <strong>3.00%<\/strong> by the end of 2026 as the bank moves to a more restrictive policy setting.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Eli_Lilly_Signals_Heavy_Q2_R_D_Charges\"><\/span>Eli Lilly Signals Heavy Q2 R&amp;D Charges<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><strong>Eli Lilly (<a href=\"\/stock\/LLY\">LLY<\/a>)<\/strong> issued a financial update estimating a <strong>$2.80 billion pre-tax<\/strong> charge for acquired IPR&amp;D in the second quarter of 2026. This translates to an estimated impact of <strong>$3.02 per share<\/strong>, reflecting the company\u2019s aggressive acquisition strategy in the biopharmaceutical space. While these charges typically impact reported GAAP earnings, investors often view them as a signal of robust pipeline expansion. The company continues to focus on its high-growth segments, including oncology and metabolic health treatments.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Regional_Infrastructure_and_Energy_Impact\"><\/span>Regional Infrastructure and Energy Impact<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>In <strong>Iran<\/strong>, state-run news agency <strong>ISNA<\/strong> reported that two of the three severed power lines in <strong>Chabahar<\/strong> have been restored, with the third expected to be operational shortly. The damage occurred during the recent wave of U.S. strikes that targeted port installations and maritime infrastructure. The escalating conflict has caused a sharp reversal in oil price trends; <strong>Brent crude<\/strong> futures surged past <strong>$78<\/strong> as fears of a prolonged disruption in the <strong>Strait of Hormuz<\/strong>\u2014a transit point for 20% of the world&#39;s oil\u2014returned to the forefront of market concerns.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Key Takeaways President Trump announced an immediate bid for a U.S. Supreme Court rehearing on birthright citizenship after a recent [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":50383,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center 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