A.M. Edition for May 12. With the U.S. and Iran still far apart on a peace deal, WSJ reporter <a href="https://www.wsj.com/news/author/caitlin-mccabe?mod=WSJ_WNPOD">Caitlin McCabe</a> says investors are embracing <a href="https://www.wsj.com/finance/stocks/global-stocks-markets-dow-news-05-11-2026-e01b4d50?mod=WSJ_WNPOD">a new Tex-Mex-inspired trade</a> based on the assumption the Strait of Hormuz won’t be opening anytime soon. Plus, British Prime Minister <a href="https://www.wsj.com/articles/u-k-s-starmer-fights-for-job-as-leadership-crisis-spills-into-markets-d171488b?mod=WSJ_WNPOD">Keir Starmer fights for his job</a> as a rebellion against him spills into markets. And Democrats <a href="https://www.wsj.com/politics/elections/democrats-target-new-states-to-win-redistricting-war-27804282?mod=WSJ_WNPOD">face another setback</a> in the midterm redistricting fight. Luke Vargas hosts. 

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