Good Morning! Today’s edition is 1,136 words, a 4-minute read.

What’s on tap: 

• Amazon is moving to the country

• McDonald’s & Krispy Kreme end partnership

• The most to least expensive states

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Big Stories

Iran Assessment Disputes

A US intelligence assessment found the Iran nuclear strikes far less effective than Trump claimed.

• A Defense Intelligence Agency report concludes Saturday's airstrikes only set back Iran's nuclear program by three to six months, contradicting Trump's declaration that the program was "completely obliterated." The assessment found "core pieces are still intact" despite fourteen 30,000-pound bombs hitting enrichment sites at Natanz, Isfahan, and Fordo. Uranium stockpiles and advanced centrifuges at other locations are potentially unaffected.

• The White House fiercely disputes the classified assessment, with officials calling it "flat-out wrong" and accusing intelligence leakers of trying to undermine Trump. Defense Secretary Pete Hegseth insists the bombing "obliterated Iran's ability to create nuclear weapons," claiming the massive bombs hit "exactly the right spot" and worked perfectly.

• The dispute leaves critical questions about Iran's remaining nuclear capabilities. Arms control experts note that uranium can be transported easily, making it difficult to assess whether stockpiles were actually destroyed. Iran has not publicly responded to the strikes, and with much of the enrichment activity occurring in underground facilities, definitive damage assessment may take weeks or months.

Millionaires, the New Middle Class?

Nearly 52 million people have become millionaires, but many still feel financially stretched.

• The number of people with wealth between $1 million and $5 million has quadrupled since 2000, reaching nearly 52 million worldwide, according to UBS. The US leads with 24 million millionaires, minting about 1,000 new ones daily, yet many worry about monthly expenses despite their seven-figure net worth.

• The surge is driven primarily by skyrocketing home prices, creating paper wealth for longtime homeowners. With median home values up 40% since 2020, baby boomers who bought decades ago have seen their net worth soar, but accessing that wealth means selling their primary residence and potentially downsizing or relocating.

• This creates a wealth paradox where millionaires feel house-rich but cash-poor. Unlike previous generations who built wealth through predictable pensions and savings accounts, today's millionaires hold most wealth in illiquid assets like homes and volatile 401 (k) accounts. The result is millions of Americans who are technically wealthy but still budget carefully for groceries and drive older cars, highlighting how asset inflation has redefined what it means to be rich.

• This creates a financial paradox where millionaires feel house-rich but cash-poor. Unlike previous generations who built wealth through predictable pensions and savings accounts, today's millionaires hold most assets in illiquid forms like homes and volatile 401 (k) accounts. The result is millions of Americans who are technically rich but still budget carefully for groceries and drive older cars.

Amazon Goes Rural

Amazon is bringing same-day delivery to over 4,000 small towns and rural communities by 2026.

• The expansion will reach tens of millions of Americans who previously couldn't get rapid delivery on items like groceries, household goods, and pet food. Prime subscribers get unlimited free same-day delivery on orders over $25, expanding the convenience that urban customers have enjoyed for years.

• Amazon is investing $4 billion over two years to quadruple its presence from 1,000 to over 4,000 small communities, where it is building new facilities and hiring drivers. The company uses machine learning to predict local buying patterns, ensuring popular items are stocked closer to customers for faster delivery.

• The expansion threatens local brick-and-mortar shops already struggling with high rents and online competition. Amazon argues it helps small businesses by letting them sell to customers through its online marketplace, but critics say the retail giant's same-day delivery expansion will squeeze out Main Street retailers who can't match that convenience.

Quick Stories

US News

• Daniel Park, charged with providing chemicals for last month’s Palm Springs fertility clinic car bomb, died Tuesday in federal custody. He was found unresponsive at a LA detention center and pronounced dead at a hospital. (More)

• House Democrats overwhelmingly joined Republicans Tuesday to defeat Rep. Al Green's impeachment resolution against Trump over Iranian nuclear strikes, voting 344-79. (More)

• A US intelligence report found Iran's nuclear facilities suffered significant damage but were not totally destroyed in strikes, setting back the program only months despite Trump's claims of complete obliteration. (More)

World

• Canada signed a comprehensive defense pact with the EU in Brussels as Donald Trump's presidency prompts traditional US allies to actively strengthen alternative alliances and reduce American dependence. (More)

• Protestors in Venice, Italy, claimed a “major victory” for forcing Jeff Bezos to relocate his wedding celebration from the city center to a venue further away. (More)

• Brazilian tourist Juliana Marins, 26, died after falling while hiking Indonesia's Mount Rinjani volcano. Her body was finally found Tuesday after difficult rescue efforts hampered by extreme terrain and weather. (More)

Business & Economy

• US stock markets closed higher on Tuesday (S&P +1.11%, Nasdaq +1.43%, Dow +1.19%). Stocks rose again as investors bet that the delicate ceasefire between Israel and Iran will hold. (More)

• McDonald's and Krispy Kreme ended their brief partnership after just months, abandoning plans to sell donuts in all US McDonald's locations due to unsuccessful cost and demand alignment efforts. (More)

• Louisiana sued CVS for abusing customer information and anticompetitive practices after the pharmacy giant sent mass texts lobbying against state legislation, warning of higher costs and potential store closures. (More)

Sports & Entertainment

• Pittsburgh Steelers quarterback Aaron Rodgers said he's "pretty sure" the 2025 season will be his final NFL campaign after a 20-year career. (More)

• The Celtics traded veteran guard Jrue Holiday to the Trail Blazers for guard Anfernee Simons and two second-round draft picks. (More) | The Pelicans moved CJ McCollum, Kelly Olynyk, and a future second-round pick to the Wizards for Jordan Poole, Saddiq Bey, and the No. 40 pick. (More)

• Federal prosecutors rested their criminal case on Tuesday after six weeks against hip-hop mogul Sean 'Diddy' Combs, who faces serious federal charges of sex trafficking, transportation for prostitution, and racketeering conspiracy. (More)

Science, Health, & Tech

• Google DeepMind released Gemini Robotics On-Device, a language model that runs locally on robots without internet, while controlling robot movements through language prompts from developers. (More)

• A new theory suggests the order of sleep phases, non-REM followed by REM, is essential for memory processing. Non-REM sleep reinforces memories while REM sleep prunes irrelevant ones. (More)

• Scientists discovered 99 million-year-old amber containing an ancient fly with zombie fungus bursting from its head, representing one of the oldest known examples of parasitic fungi hijacking insect hosts. (More)

Extra Credit

Man gets stuck in a chimney trying to rescue a dog.

London’s hidden tunnels to become a spy museum and bar.

Two escaped bears raided a 7-day supply of honey.

Ranking every US state from most to least expensive.