Marketplace Morning Report

The number of hot, dry, windy days is increasing, setting the stage for fires. Wildfire season is off to an awful start. In March, Nebraska had its largest wildfire in state history. Right now, a fire outside of LA is forcing evacuations. While the federal government spends about $3 billion on wildfire suppression each year, most of that is being spent, and states are having to fill the gaps. Also: why Google is "leading the way" in the AI race.

If you’re a homeowner — this is no surprise to you — property insurance can be expensive. It seems to get more and more pricey each year. Some might blame climate change or natural disasters, but if you look under the hood of the $1 trillion in premium payments last year, the numbers might tell a different story. We'll unpack. But first, we'll discuss and preview earnings for some of America's largest retailers.

President Donald Trump has dropped his lawsuit against the IRS over the leak of his tax returns in exchange for the creation of a new $1.8 billion “Anti-Weaponization Fund,” which will compensate people who have been investigated or targeted for “political, personal, or ideological reasons.” We'll dig into the highly controversial fund. Also on the show: home sellers stay on the sidelines, and a pro dumpster diver finds gems amid dorm moveouts.

The U.S. and Iran remain far apart on a ceasefire, as President Donald Trump warns on social media that "the clock is ticking." The standoff is rattling global markets. Government bonds are rising, pushing up borrowing costs. And oil prices are moving higher this morning, as traders worry that the war in the Middle East will lead to a prolonged period of higher inflation. We'll discuss. And later: how Brazil became BYD’s biggest market outside of China.

The war in Iran has cost Americans more than $40 billion in additional fuel costs, according to an analysis from Brown University’s Watson School of International and Public Affairs. The costs go beyond just what Americans pay at the pump; higher diesel costs are factoring into rising prices for other consumer goods, too. This morning, we'll do the numbers. Plus, after a slowdown, "vertical dramas" are putting some Hollywood crews back to work.