Axios

Two U.S. service members were killed and more wounded in an Iranian ballistic missile attack on an airbase in Jordan on Saturday, military officials said.

The big picture: This is the first time U.S. troops have been killed since the fighting resumed two weeks ago. The incident raises the number of U.S. service members killed in the war to 16.

Iran's Supreme Leader Mojtaba Khamenei on Saturday issued a belligerent statement accusing President Trump of violating the U.S.-Iran agreement and pledging a strong response by Iran and its proxies if the fighting continues to escalate.

Why it matters: Khamenei's statement came as renewed hostilities between the U.S. and Iran reached an eighth consecutive day. Both sides are heightening their attacks and expanding the scope of their targets.

Live shopping is projected to more than triple in the U.S. by the end of the decade as retailers, creators and streaming platforms embrace the format.

Why it matters: After years of failed attempts to replicate China's livestream shopping boom, the U.S. market is finally gaining momentum.

China's latest AI breakthrough is forcing Silicon Valley to confront a terrifying possibility: Building the world's smartest models may no longer be enough to win.

Why it matters: Chinese labs like Moonshot AI are cornering the market for cheap, customizable intelligence, threatening to turn America's prestige models into expensive niche products.

The latest NATO summit, held in Turkey this month, may be most remembered not for politicking and posturing, but for sideline dealmaking.

The big picture: The Ankara get-together concluded with more than $50 billion in new procurements on the books, according to the alliance's readout, as well as a handful of agreements to expand weapons production across borders.

• "One thing is clear: The money is there, and much more is coming. But this cash must be put to work," NATO boss Mark Rutte said at a defense-industrial-base forum that coincided with the summit.

The Trump administration notified Israel it is sending dozens more refueling planes to the country ahead of a potential expansion of military operations against Iran, three U.S. and Israeli officials said.

Why it matters: After he was presented with several new military plans in a Situation Room meeting Tuesday, President Trump is considering a massive offensive in Iran that would be wider in scope than the current strikes around the Strait of Hormuz.

The latest batch of data offered a fresh look at three corners of the economy: Homebuilding rebounded after a weak spring, import prices continued edging higher, and consumer moods brightened for a second straight month.

Andy Burnham will be the U.K.'s new prime minister after becoming Labour's leader Friday.

Why it matters: Burnham vaulted from regional politics to the cusp of Downing Street within weeks — an unusually rapid ascent that leaves him little time to prepare for mounting economic and political challenges.

Ukraine's drone attacks on refineries have hammered Russia's oil infrastructure, creating an economic shock that is increasingly visible worldwide, including in the U.S.

Why it matters: The effectiveness of the Ukrainian drone campaign is helping drive up world energy prices already elevated by the Iran war.

President Trump alleged Thursday that U.S. intelligence agencies covered up information about alleged Chinese efforts to influence the 2020 U.S. election.

Why it matters: The document release is likely to renew scrutiny of Trump's claims about foreign interference in the U.S. election and the government's past intelligence assessments.

President Trump alleged during a White House address Thursday that China interfered in the 2020 election and that U.S. intelligence agencies covered it up.

Why it matters: Trump is reopening a politically charged debate over China's role in the 2020 election while directly challenging U.S. intelligence assessments that concluded Beijing did not try to influence the election's outcome.