Morning Briefing: June 6, 2026

Here’s a rundown of all the news you need to start your Saturday, including US President Donald Trump claiming Iran retains only 21% - 22% of its missile stockpile following American strikes; a senior Hamas delegation arriving in Cairo for talks aimed at advancing the Gaza ceasefire into its second phase; and Russia and Ukraine completing another prisoner exchange, with 185 servicemen returning from each side facilitated by the United Arab Emirates.

TOP STORIES

• Trump says Iran retains only 21% - 22% of its missile stockpile after US strikes

US President Donald Trump said Iran has lost most of its missile and drone production capacity following American strikes, claiming the country retains only "21%-22%" of its original missile stockpile.

"Most of the drone factories have been knocked out, most of the launching pads have been knocked out, and most of the missile manufacturing areas have been knocked out," Trump said in excerpts from an NBC News interview.

• Hamas delegation arrives in Cairo for Gaza ceasefire talks

A senior Hamas delegation led by Khalil al-Hayya arrived in Cairo for talks with Egyptian officials on completing the first phase of the Gaza ceasefire agreement and establishing mechanisms for entering the second phase.

Negotiations are scheduled to last several days, focusing on halting repeated Israeli attacks on Gaza and advancing to the second phase, which would see further Israeli withdrawals and the deployment of an international stabilization force.

• Russia, Ukraine exchange 185 prisoners of war each

Russia announced that another round of prisoner exchanges with Ukraine had taken place, with 185 servicemen returning from each side in a swap facilitated by the United Arab Emirates.

The released Russian servicemen are currently in Belarus, where they are receiving psychological and medical assistance before being transferred to Russia for treatment and rehabilitation, according to the Defense Ministry.

Ukraine made no immediate comment on the exchange, though several top Ukrainian officials indicated in recent weeks that preparations were underway.

· Azerbaijan reports 5 dead, 3 injured in drone attack on cargo ships in Sea of Azov

Five Azerbaijani citizens were killed, and three were wounded after two foreign cargo vessels were struck by drones overnight in the Taganrog Bay area of the Sea of Azov, Azerbaijan's Foreign Ministry announced.

The targeted ships, Natra and Zirkon, were carrying a combined crew of 25 Azerbaijani nationals. The three injured were hospitalized in the Russian city of Yeysk, according to information provided by Russian authorities.

Azerbaijan's Embassy in Russia has dispatched several staff members to the site, while the Foreign Ministry said it is closely monitoring the condition of its citizens, their repatriation and the provision of consular assistance.

NEWS IN BRIEF

• China's President Xi Jinping will visit North Korea for a two-day state visit starting Monday at the invitation of Kim Jong Un, marking his first trip to the country since 2019 and his first overseas trip this year.
• Petroleum Development Oman denied reports of halted crude loading at the Mina al-Fahal port following an alleged drone attack, stating operations are "continuing normally."
• The Israeli army issued urgent evacuation warnings to residents of three Lebanese towns, despite a fragile ceasefire in place since April 17 that Washington extended until early July.
• Israel killed four people and wounded at least 14 in a dozen attacks on southern Lebanon, despite diplomatic efforts to shore up the fragile ceasefire.
• Iran submitted the passports of its national football team to the US Embassy in Ankara as part of the visa process for the 2026 FIFA World Cup, with the Iranian Football Federation telling FIFA it may pursue alternative options if visas are not issued for some team members.
• UK military chief Sir Richard Knighton said Britain faces its greatest security threats since the Cold War, citing escalating Russian activity and growing cyber threats.
• A naval drone exploded at Romania's Black Sea port of Constanta while authorities were inspecting it, with officials noting it was similar to drones used in the war in Ukraine, though no casualties were reported.
• Iran's Supreme Leader Ayatollah Mojtaba Khamenei approved a pardon, reduction or commutation of sentences for more than 2,000 prisoners.
• Lithuania's Defense Minister Robertas Kaunas said his country is in a "rat race" among Eastern European nations to secure continued US military presence in the region.
• Iran's Navy fired warning shots using missiles and drones at US destroyers in the Sea of Oman, forcing the vessels to withdraw toward the Indian Ocean, according to the Iranian Army.
• Canada and European allies urged restraint in Lebanon, urging Israel to halt military escalation and all parties to uphold the ceasefire and avoid further destabilizing the country.
• Germany's Foreign Office strongly discouraged travel to Bahrain and Kuwait, citing a highly volatile regional security situation.
• Ireland imposed travel bans on Israeli National Security Minister Itamar Ben-Gvir and Finance Minister Bezalel Smotrich, Irish Taoiseach Micheal Martin confirmed.
• US Central Command denied Iranian claims that Tehran's forces fired warning shots at US warships in the Gulf of Oman or forced American vessels to retreat toward the Indian Ocean.
• Iran said at least 50% of its frozen assets must be released immediately upon the signing of any memorandum of understanding with the US, a senior Foreign Ministry official said.
• The WHO and Africa CDC launched a $518 million Ebola response plan to contain a rapidly expanding outbreak in the Democratic Republic of the Congo that has spread to 26 health zones and poses risks to 11 countries.
• Japan's parliament approved a $19 billion emergency budget to cushion households from soaring energy costs driven by the prolonged Middle East war.
• France opened a torture and war crimes investigation into the treatment of French activists aboard a Gaza-bound aid flotilla intercepted by Israeli forces, following a referral by Foreign Minister Jean-Noel Barrot.
• Russian President Vladimir Putin said he sees "no sense" in meeting Ukrainian President Volodymyr Zelenskyy, arguing past direct meetings were used to "buy time" rather than produce meaningful agreements.
• Slovenia's Presidential Palace raised a Palestinian flag, one day after the new government removed it from the government building following a change of power.
• US President Donald Trump signed a directive on artificial intelligence in the National Security Enterprise, with the White House saying the framework aims to put the most advanced AI systems into the hands of America's warfighters.
• Kuwait and Bahrain activated air defenses in response to hostile missile and drone threats, with Bahrain sounding sirens urging citizens and residents to move to the nearest safe place.

BUSINESS & ECONOMY

US stocks close sharply lower as strong jobs data raises prospect of rate hike

US stocks fell sharply after better-than-expected employment data fueled expectations that the Federal Reserve could adopt a more hawkish stance on monetary policy, with the Nasdaq posting its steepest daily decline since April 2025.

The Nasdaq shed 4.18%, or 1,121 points, to close at 25,709, while the S&P 500 lost 2.64% and the Dow fell 1.35%. The VIX fear index surged nearly 40%. Bond yields also rose sharply, with the 10-year Treasury yield surpassing 4.5% and the 30-year yield exceeding 5%, as nonfarm payrolls came in at 172,000 for May, well above expectations of 85,000.

Container freight spot rates surge 80% since outbreak of US-Israel-Iran war

Container freight spot rates have skyrocketed 80% since the start of the US-Israel-Iran war on Feb. 28, with Drewry's World Container Index reaching $3,443 for a 40-foot container as of June 4, as trade flows through the Strait of Hormuz remain 90% below normal levels.

The surge has been most acute on Trans-Pacific routes, with Shanghai-New York rates up 98% to $5,505 and Shanghai-Los Angeles rates up 108% to $4,565. The disruptions are compounding other pressures, including rising bunker fuel costs, rerouting of ships around the Red Sea, and importers' front-loading orders ahead of US tariffs expected in July and increased cargo demand tied to the 2026 FIFA World Cup.