CNBC Daily Open: Trump turns up the heat on allies and adversaries

Hello, this is Hui Jie writing to you from Singapore. Welcome to another edition of CNBC's Daily Open.

The shaky ceasefire in the Middle East appears to have all but collapsed, with U.S. President Donald Trump declaring it was "over" and Washington conducting fresh strikes on Iran.

But it was not just enemies that faced Trump's ire. He also took aim at NATO allies, accusing them of not spending enough on defense, and singling out Spain for some harsh criticism wrapped in trade threats.

For quite a while, the U.S. ceasefire with Iran resembled Schrodinger's cat, where the ceasefire seemed both dead and alive.

Now, the ceasefire seems definitively dead.

Trump signaled at the NATO summit on Wednesday that he was no longer interested in reaching a deal with Iran, and declared the ceasefire "over" in light of renewed hostilities in the Strait of Hormuz.

Hours later, U.S. forces launched additional strikes, with U.S. Central Command saying this was in response to Tehran attacking commercial ships in or near the Strait of Hormuz.

It wasn't just enemies who drew Trump's ire. NATO allies also received flak from the U.S. president over their defense spending, especially Spain, with Trump asking to cut off all trade with the country.

This marks the iPhone maker's largest U.S. manufacturing commitment to date.

As renewed Mideast hostilities threaten to raise inflation, Federal Reserve policymakers were revealed to have been split about the future of interest rates in their last meeting, entertaining scenarios in either direction.

Some saw outcomes where inflation could ease, allowing lower rates, while others envisioned the opposite. Fed Chairman Kevin Warsh billed the debate as a "family fight" that ended with the Fed holding rates at 3.5%-3.75% last month.

— Lim Hui Jie