Good morning. On Fortune’s radar today:

  • Iran controls the Strait of Hormuz—how bad can it be? We have answers.
  • Markets: Mini rally.
  • $3 billion in C-suite insider sales at CoreWeave.
  • Incoming: CPI inflation.
  • Why U.S. housing is stuck in a rut.
  • China owns 90% of all humanoid robots.
  • Italy’s $4.7 billion ‘cheese banks’ hold wheels of Parmigiano as collateral.

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This story was originally featured on Fortune.com

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