🗞️ THE DAILY INDEX - 5th June 2026

Iran launched missile and drone strikes on Kuwait International Airport on Wednesday night, killing one person and injuring dozens more, as President Trump offered his most revealing framing of the conflict yet: "At that part of the world," he said, "a ceasefire is when you're shooting in a more moderate pattern." That sentence landed in markets like a slow exhalation — simultaneously reassuring and deeply unsettling, confirmation that the Gulf conflict remains active but also that Washington is not, for now, escalating beyond it. Against that backdrop, this morning's US jobs report for May arrived with its own complicated message: the economy added jobs for a third straight month, a feat not achieved since early 2025, but the pace of hiring was slower than in April and the weekly jobless claims number released Thursday touched its highest level since February. The DBI slipped just a fraction, to 45.2 — a reading that reflects a global economy holding its ground in the Caution zone, neither recovering nor deteriorating sharply, while the Strait of Hormuz remains effectively closed and the diplomatic track between Washington and Tehran produces more rhetoric than results.