Get a jump start on the US trading day with Matt Miller and Dani Burger on "Bloomberg Open Interest." President Trump pushes Iran to reopen the Strait of Hormuz as Israel and Hezbollah exchange fire, casting a shadow over critical peace talks set for the weekend. New inflation data shows the Iran conflict is already hitting the US economy. And as big banks head into earnings, warnings from Jerome Powell and Scott Bessent about a growing AI-driven cyber threat are rattling CEOs. Jennifer Kavanagh breaks down why reopening Hormuz remains unlikely and why diplomacy is the only path forward. Cybersecurity CEO Vlad Rikhter on the race to defend against AI-powered attacks moving at machine speed. Richard Farley explains why private credit is cooling, not collapsing. And Goldmans Richard Ramsden on why rising risks could reshape the banking outlook. (Source: Bloomberg)