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Here's your midday brief for Thursday, May 7th.

I'm Pierre Bienname for the Wall Street Journal.

Oil prices are continuing to pull back after a sharp fall yesterday.

Traders are hoping that the U.S. and Iran could soon reach an agreement.

Futures for Brent Crude, the international benchmark, have slipped below $100 a barrel.

The last time they closed below that level was April 24th. But prices are still rising. For Brent Crude, the international benchmark, have slipped below $100 a barrel.

The last time they closed below that level was April 24th.

But prices are still roughly a third higher than their pre-war levels.

First quarter revenue at McDonald's is up 9% to more than $6.5 billion.

The fast food chain is trying to reclaim its reputation as an inexpensive place to get food, so it's

been doubling down on value meals and other low-cost items. The company said those efforts are

helping it draw customers. Meanwhile, Burger King yesterday reported its biggest quarterly increase

in same-store sales in roughly two years. And Papa John's International says customers have

traded down to smaller pizzas and passed

on sides and desserts. Revenue in the quarter fell 8% to about $479 million. And in China,

a military court has issued suspended death sentences to two former defense ministers for corruption.

One man was convicted of receiving

bribes and the other of receiving and giving bribes. Both are former generals. China has been

...