Dear Trader,

Everybody and their brother-in-law wants a piece of the Anthropic IPO.

Most of them won't get shares at the offer price, because those usually go to the big funds and the banks' favorite clients long before you or I get anywhere near a buy button.

Mark Sebastian has no plans to sit around hoping for an allocation. That’s what suckers do.

Instead, he found three opportunities the coming Anthropic IPO just shook loose, and he'll walk you through every one of them live today.

First, though, Mark's hosting Voz, and the two of them will rip through the three stories in today's Daily News Breakdown. They’ll even take chart requests if you’re in the room.

Stick around once they wrap, because that's when Mark gets to the Anthropic stuff. Use the link below to jump into the room.

Click this link to jump to the State of the Market live room and let’s you catch Garrett Baldwin’s I’d Trade That show before the State of the Market.

This link adds State of the Market to your calendar.

The Daily News Breakdown

SIREN: Brent crude jumped back above $101 a barrel on Wednesday, and the reasons keep piling up. UK officials have logged at least nine attacks in the Strait of Hormuz so far this month, which works out to more than one a day. And since that apparently wasn't enough, a tropical storm's barreling toward the Gulf Coast with a shot at hurricane status by Friday.

Chevron's already yanking nonessential workers off its offshore rigs. Meanwhile, you're paying $4.36 for a gallon of gas that cost $3.12 a year ago, and diesel's at a cool $6.30. With the midterms less than a month out, President Trump now says he's "thinking about" suspending the federal gas tax.

SNEAKER: The head of the IMF went on CNBC Wednesday and told France, more or less, to get its act together. Kristalina Georgieva said the country keeps borrowing through shock after shock, climbing a "staircase that does not lead to heaven." Translation from IMF-speak: you're broke, and everybody can tell.

Bond buyers can definitely tell, since Italy, the eurozone's longtime budget punchline, now borrows cheaper than France. French 10-year yields have jumped more than a full percentage point since January, and last year's deficit came in at 5.1% against an EU target near 3%. Good luck selling spending cuts to a country whose students have been barricading schools for going on three weeks.

SIGN: Meta, Walmart, Stripe and AI startup Sierra just dropped an open rulebook for AI agents doing business online. Right now a website can't tell whether it's dealing with you or the bot you sent to buy your kid's birthday present, and the "personal agent protocol" aims to fix that. Bret Taylor, Sierra's co-founder and OpenAI's chairman, calls the status quo "kind of chaos."

Meta's got skin in this game: its Muse agent racked up millions of U.S. users in about a month, and Amazon then blocked it over scraping concerns. OpenAI and Anthropic haven't signed on yet, though Taylor says he expects both. Amazon's not in the club either, which won't shock anyone who watched it slam the door on Muse.