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Here's your midday brief for Thursday, June 26th.

I'm Julia Carpenter for the Wall Street Journal.

Defense Secretary Pete Heggseth repeated the Trump administration's earlier assertion that

U.S. strikes decimated Iran's nuclear efforts, calling the strikes a, quote, resounding success.

Secretary Hegsef also scolded the media for reporting

on earlier intelligence information that instead said the strike only pushed Iranian nuclear

efforts back a few months. New government data shows the U.S. economy shrink more than previously

estimated in the first quarter of 2025. The Commerce Department said gross domestic

product contracted at a 0.5% seasonally and inflation-adjusted annual rate in January through March.

This latest estimate reflects, quote, downward revisions to consumer spending and exports that

were partly offset by a downward revision to imports,

according to the Commerce Department. We are exclusively reporting that BlackRock, the

world's largest asset manager, is accelerating its plans to include private investments

...