SERETIS NOTES

  Fans of President D onald Trump's   MAGA movement celebrated on Tuesday after a Texas Republican lost his primary race. Rep.  Dan Crenshaw  (R-TX) lost his primary race to state Rep. Steve Toth by a double-digit margin on Tuesday. Toth was supported by Sen.  Ted Cruz  (R-TX) and the Trump-aligned Turning Point Action, according to The Texas Tribune. Trump had refused to endorse Crenshaw's re-election after the lawmaker failed to go along with Trump's lie that he won the 2020 general election.

  Energy stocks were falling early Wednesday after a report suggested Iranian intelligence officials had contacted American counterparts about discussing terms for ending the conflict. Exxon Mobil and Chevron gave up early gains to trade down around 1.3% and 1.4%, respectively, while Occidental Petroleum was down 0.1%