Markets are being pulled by geopolitics as much as earnings. In Washington, Donald Trump’s meetings with Benjamin Netanyahu and Volodymyr Zelenskyy underscore how the wars in Ukraine and the Middle East are shaping the business outlook, from missile support to the future of energy routes. That mattered in the Gulf, where Oman and its neighbors are backing a plan that would let Iran collect voluntary transit fees in the Strait of Hormuz, a bid to steady oil shipments and calm a vital trade chokepoint. Against that tense backdrop, Apple briefly crossed the $5 trillion valuation mark, becoming only the second public company to do so, a reminder of how investor enthusiasm for mega-cap tech still defies broader uncertainty. Boeing, by contrast, posted a deeper-than-expected quarterly loss as delays and cost overruns on Air Force One mounted, while Myanmar moved to tighten its crackdown on online scam centers with harsh new penalties.