As the conflict intensifies in the Middle East, US officials announced on Monday that US forces have successfully rescued both crew members of an F-15E fighter jet that was shot down over Iran.

The aircraft was shot down during two separate military operations last week (see photos), marking the first such losses in roughly five weeks of war. However, the first crew member had been recovered shortly after the crash.

To rescue the second crewman, who had already been stranded in a remote mountain range for over a day, US forces kickstarted a high-risk recovery mission:

Despite the dangers, the airman was safely recovered with non-life-threatening injuries. Officials described it as one of the most complex and challenging rescue operations in recent US military history.

It could’ve been a hostage situation: Iranian officials had reportedly offered the equivalent of $60,000 to reward any civilian who turned over an "enemy pilot" following the crash.

After the operation, President Donald Trump gave Iran a 48-hour deadline to reopen the Strait of Hormuz, which ends at 8 pm ET tonight.

If Iran does not comply, Trump warned the US could launch new military strikes, potentially targeting key civilian infrastructure:

Talks are still ongoing: The Associated Press reported that diplomats from Egypt, Turkey, and Pakistan are quietly working to help the US and Iran reach common ground.

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The US economy added 178,000 jobs last month, a much stronger-than-expected rebound following a very weak February that was later revised to show significant job losses.

Most of the jobs added were thanks to the healthcare industry, with help from the construction and hospitality sectors, which recovered after disruptions earlier in the year caused by strikes and severe weather.

However, while the 178,000 jobs added are nearly three times higher than economists expected (especially after the 133,000 lost in February), there were some troubling statistics that came with the job gains.

According to the report from the Labor Department:

A silver lining? The weak labor force participation partially helped the unemployment rate trickle down to 4.3%, falling slightly from February’s 4.4%, as fewer people are actively working or looking for jobs.

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The US plastics industry, which had been weighed down by oversupply and weak demand after the pandemic, has seen a rapid chain of success following the outbreak of the Iran war.

The war has disrupted global supply chains, particularly in the Middle East, which produces a significant share of the world’s plastics (and as you know, oil). But, with shipping routes like the Strait of Hormuz restricted, many international producers have been forced to cut output.

That’s created a major advantage for US manufacturers, since they rely on cheap natural gas instead of oil to produce plastics. As a result:

Those key plastic materials? The first is polyethylene, which is a more flexible plastic widely used in milk bottles, frozen food bags, grocery bags, industrial packaging, and more. The second, polypropylene, is a harder plastic used in everything from auto parts to medical supplies to bottle caps. So, they’re basically used in everything.

It’s not for the large portion of the economy. That’s especially true for businesses that rely on plastic, like packaging companies and those who make plastic consumer goods, since they’re facing higher input costs.

In the long term, those costs will be passed on to consumers: Jay Foreman, CEO of toymaker Basic Fun!, told the WSJ that while the company will absorb the impact in the short term, it will affect consumers “at some point.”

Looking ahead: Even if the Strait of Hormuz were to reopen right away, analysts say it could take up to nine months for petrochemical shipping and production (the base of plastics) to normalize. Even then, other key sectors like fertilizer production would likely be prioritized for resupply.

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That’s a lot of ugly wallpaper. The average US home is now about 44 years old, the oldest on record, as many Americans face higher maintenance costs thanks to deteriorating foundations.

Much like people, the older homes get, the more maintenance they need. Many of these homes were built from the 1920s to the 1970s, meaning a large portion of the housing market is now well past the point where major foundational pieces like roofs, plumbing, and heating need to be replaced.

That can be a pretty expensive task, especially as maintenance costs climb:

Experts now recommend homeowners set aside 2% to 3% of a home’s value annually for maintenance (up from the long-standing rule of 1%) to keep up with repairs and unexpected issues.

The challenges go beyond maintenance costs: Delayed or ignored repairs can lead to higher insurance premiums, loss of coverage, or difficulty selling a home, especially if properties fall below lender or insurer standards.

Americans are increasingly reconsidering their summer travel plans as jet fuel shortages from the Iran war push airlines to trim flights and hike prices.

With the Strait of Hormuz blockage still limiting access to much of the world’s oil, the global travel industry is preparing for a turbulent summer:

Not to mention, flight prices are skyhigh: Global airfares jumped 24% to $465 compared to last year, and transatlantic tickets booked a few weeks out are already about $200 more expensive than they were just a month ago.

As a result of the rising prices, the share of Americans planning international travel over the next six months dropped to 17%, its lowest level since 2022, according to The Conference Board.

So, what’s the alternative? Unless you’re planning on walking, summer travel is getting more expensive across the board. Gas just crossed $4 a gallon for the first time in four years, and even cruise lines are dealing with the same fuel crunch.

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