Trump backtracks Hormuz tolls as markets rally on cooling inflation

Trump reverses his plan to charge ships transiting the Strait of Hormuz, suggesting Gulf states invest in the U.S.; oil prices rise while U.S. stocks gain on cooler inflation (3.5%). Fed hawk Kevin Warsh presses for inflation regime change. Nvidia hints that H200 shipments to China may have restarted. Buffett accelerates Berkshire donations, aiming to dispose of all shares in about eight years. Investors await key China data as Asia markets rise.