Bloomberg Daybreak Weekend with Host Nathan Hager take a look at some of the stories we'll be tracking in the coming week.

• In the US – a look ahead to the April jobs report in the U.S and a focus on 3 stocks for the week ahead.
• In the UK – a look ahead to the UK’s Midterm local elections.
• In Asia – a look ahead to the next RBA Decision.

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Today's top stories, with context, in just 15 minutes.
On today's podcast:
1) President Trump vowed to maintain a naval blockade on Iran and was briefed by commanders on further military options. Iran's speaker of parliament, Mohammad Bagher Ghalibaf, said the blockade will further push up oil prices and that it must be lifted for new talks to occur. Trump and Iranian leaders are waiting for the other to yield first, with Iran's new supreme leader, Mojtaba Khamenei, casting doubt on the likelihood of a deal and vowing not to give up the country's nuclear or missile technologies.
2) Apple delivered a strong revenue forecast for the third quarter, with sales expected to rise 14% to 17% in the period. The company warned that memory-chip costs will increase and that shortages of Mac computers will persist for “several months.” Apple's total sales gained 17% to $111.2 billion during the fiscal second quarter, with the $599 MacBook Neo being particularly popular and remaining sold out at several retailers.
3) Defense Secretary Pete Hegseth testified before Congress, with Democrats criticizing the Trump administration over the Iran war, calling it illegal, unpopular, and ill-defined. Hegseth defended the war as crucial to keeping Iran from getting a nuclear weapon, but declined to provide new details on operational metrics or the Pentagon's $25 billion price tag.

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Today's top stories, with context, in just 15 minutes.
On today's podcast:
1) Brent oil rallied to a four-year high after Axios reported that US President Trump will receive a briefing on new military options for action in Iran. The US and Iran have maintained their blockade of the Strait of Hormuz, with the conflict in the Middle East called the biggest supply shock in history by the International Energy Agency.
2) Alphabet's Google is seeing a clear payoff from its AI spending, with solid growth at its cloud computing unit and a "meaningful acceleration in growth" driven by demand for its AI software and infrastructure. Meta Platforms is lagging behind, with its shares tumbling more than 6% after the company boosted full-year capital expenditures, and its consumer AI app being slower to take off. The four companies, including Amazon and Microsoft, are expected to spend as much as $725 billion in 2026, with a key question being whether that massive spending is providing tangible results.
3) Shares of Bill Ackman's Pershing Square USA Ltd. plunged 18% in its debut after the combined initial public offering raised $5 billion. The $5 billion haul was the bare minimum to keep early investors locked into the deal, and fell short of the $25 billion that Pershing Square sought to bring in. Pershing Square USA deserves to trade at a premium to its net assets over time if the newly listed closed-end fund delivers the same outperformance as the hedge fund firm has in the past, Ackman said.

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