The ongoing Iran conflict forced oil prices above $100 again as no sign of cessation of tensions was seen. The U.S. Navy is not yet in a position to escort ships through the Strait of Hormuz, with a loose timeline being pegged at later this month (via NBC News).

Dick’s Sporting Goods is signaling a weaker near-term fiscal report card, largely due to its recent acquisition of Foot Locker. “In retail you’re never really done cleaning out the garage. Anything else going forward is normal course of business,” said executive chairman Ed Stack (via CNBC).

According to New York Fed data compiled by Apollo Academy, the K-shaped economy currently taking place in the U.S. is continuing with no signs of slowing. “The stronger growth in consumer spending for high-income households is driven by the K-shaped growth in wages and wealth,” wrote economist Torsten Slok (via Apollo Academy).

Papa John’s International is reportedly weighing a $1.5 billion deal to go private under an acquisition offer from Irth Capital. The Qatari-based investment fund, backed by Brookfield, is said to have offered $47 per share, a 44% premium over Papa John’s most recent closing price (via FOX Business).

Honda has scrapped plans for three EVs which would have hit the U.S. market, as well as announced up to $15.8 billion in losses tied to tariffs and declining EV demand (via Automotive News).