Kuwait’s military announced on Thursday that it was repelling missile and drone assaults from Iran, following President Donald Trump’s assertion the day before that renewed hostilities between the U.S. and Iran would not endure for long.

Kuwait instructed residents to adhere to safety protocols, clarifying that any audible explosions were from air defense systems engaging hostile projectiles. The attacks aimed at American bases in Kuwait, according to Iranian state media IRIB.

Trump stated in a Wednesday press briefing that he believed the conflict would not extend much further, noting the U.S. capacity to absorb more, and described the prior day’s American strikes on Iran as intense. He added that Washington stands ready for additional actions whenever necessary.

In response to Tuesday’s strikes, Iran targeted U.S. allies Jordan and Bahrain.

According to Reuters, senior officials in Trump’s administration are endeavoring to prevent the Iran conflict from escalating before November’s midterm elections. Vice President JD Vance and Secretary of State Marco Rubio are working to maintain a relatively subdued atmosphere until the elections conclude.

This strategy, based on discussions with four informed sources, aims to mitigate Republican electoral losses stemming from the conflict, which has grown unpopular among Americans.

A poll from the University of Massachusetts Amherst, surveying 1,000 individuals in August, revealed significant dissatisfaction with Trump’s management of the Iran war.

The university reported that over two-thirds of the respondents disapprove of Trump’s handling of the war, and a similar number express disapproval of his overall job performance.

Trump commented on Wednesday that while midterm elections don’t personally affect him, he intends to support the Republican party, which he said acknowledges the administration’s stance on preventing Iran from acquiring nuclear weapons.

He emphasized at a Rose Garden event that the actions are primarily for the benefit of the Middle East, Israel, and the United States themselves.

— Verum’s Kevin Breuninger contributed to this report.

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Hello, this is Justina Lee writing to you from Singapore. Welcome to another edition of CNBC’s Daily Open.

The upcoming meeting between U.S. President Donald Trump and Chinese leader Xi Jinping at the White House is highly anticipated, though some China watchers are keeping their expectations low.

But relations with China aren’t the only focus for Trump, as he floated the idea to rename the Strait of Hormuz after himself. This comes less than a week after he signed an executive order to change the name of Lake Ontario to “Lake America.”

On the economic front, worries over inflation, higher rates and high debt continue to weigh on sentiment, as benchmark borrowing costs around the world extend their multi-decade highs.

What you need to know today

All eyes are on the upcoming meeting between U.S. President Donald Trump and Chinese leader Xi Jinping at the White House, which could offer more clues on the future of U.S.-China trade relations as well as China’s stance towards Iran and the Mideast conflict.

Some China watchers, however, are keeping their expectations low, as both sides appear to be more interested in avoiding moves that would risk their current trade truce.

Meanwhile, Trump continues his “naming” game, expressing his desire to rename the Strait of Hormuz after himself, less than a week after he signed an executive order to change the name of Lake Ontario to “Lake America.”

But “making America great” doesn’t stop there, as Trump met with travel industry executives who urged his administration to target attracting 100 million international visitors by 2030.

Oil continues to dominate the headlines amid the Mideast conflict. The Strait of Hormuz, which remains one of the most critical strategic waterways for global trade flows, saw oil exports hit a wartime record on Monday with more than 17 million barrels daily, Energy Secretary Chris Wright told CNBC.

While concerns over oil supply disruptions in the Middle East continue to persist, Venezuela offers a bright spot. Chevron is expanding its operations in Venezuela, more than doubling its oil production over the next five years via a $7 billion investment.

Over at the G20 gatherings this week, artificial intelligence took center stage with OpenAI CEO Sam Altman saying the use of AI is “non-negotiable” and Anthropic co-founder Tom Brown praising Trump’s stance on AI data centers.

Switching lanes to auto-related sectors, Uber announced plans to cut 10% of its workforce as it seeks to consolidate management layers and lower costs. However, the ride-hailing company declined to disclose the number of jobs cut, nor did it attribute the move to AI.

In markets, U.S. stocks closed higher in Wednesday’s regular trading, with all three major averages snapping a three-day slump. Asia markets closed lower amid concerns over Iran-U.S. tensions.

Meanwhile, worries over inflation, higher rates and high debt remain in focus, as benchmark borrowing costs around the world extend their multi-decade highs. Central banks in major economies, including the U.S., are widely expected to raise interest rates this month.

—Justina Lee

And finally…

Zelenskyy says airlines should avoid Russian airspace as Ukraine expands drone operations

Ukrainian President Volodymyr Zelenskyy has urged airlines to avoid Russian airspace as Kyiv expands its drone operations.

“We want to warn every airline that uses Russian airspace, every insurer, and everyone who still uses Russia’s key airports: Russian airspace is becoming completely unsafe,” Zelenskyy said Tuesday in his evening address.

His warning follows Ukraine stepping up its long-range drone strikes on Russian oil refineries and logistics hubs, as it seeks to raise the cost of the war for Moscow.

—Sam Meredith

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Uber’s CEO Dara Khosrowshahi told employees that the layoffs are intended to make the company simpler and faster while freeing up resources for future investments, including the planned $10 billion-plus commitment to autonomous vehicles. The announcement pushed Uber’s shares up almost 2 %. Uber declined to specify how many jobs would be eliminated; the firm reported roughly 34,000 employees at the close of 2025 in its annual filing. The move follows a broader trend among technology firms to flatten management hierarchies to accelerate decision‑making and boost efficiency. Khosrowshahi said the cuts are not linked to AI‑driven layoffs affecting other tech companies. The restructuring will slash small teams of one‑to‑two‑person reports by about half and reduce staff seven levels below the CEO by 20 %, noting that Uber has surpassed the usefulness of many of those layers at its current scale. Additionally, Uber will merge several teams and concentrate more workers in hubs such as New York and San Francisco, while permitting roughly 1 % of employees to continue working remotely. Khosrowshahi argued that a leaner structure will clarify accountability, speed up decisions, and allow more time for product development rather than coordination.