10AM ET 05/05/2026 Newscast

Summary

Fox News Hourly Update — 10AM ET, May 5, 2026

Episode Overview

This episode of the Fox News Hourly Update, anchored by Dave Anthony, delivers the latest national and international headlines. The broadcast primarily focuses on mounting tensions in the Strait of Hormuz, the ongoing US-Iran conflict, primary elections in Ohio and Indiana, updates on US oil prices, a major court development involving Meta (Facebook’s parent company) in New Mexico, and a high-profile Hollywood legal settlement.

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Key Discussion Points & Insights

1. US-Iran Ceasefire and Situation in the Strait of Hormuz

• The ceasefire between the US and Iran is holding despite recent violent exchanges.

• The US has launched “Project Freedom” to escort stranded ships through the Strait of Hormuz, underscoring a commitment to safeguarding international waters.

  Timestamps and Notable Quotes:

  • [00:03] Dave Anthony:
    “The ceasefire with Iran is not over ... despite attacks and counterattacks in the Strait of Hormuz.”
  • [00:13] War Secretary Pete Hegseth:
    “We’re not looking for a fight. But Iran also cannot be allowed to block innocent countries and their goods from an international waterway.”
  • [00:33] Hegseth warns Iran's military:
    “If you attack American troops or innocent commercial shipping, you will face overwhelming and devastating American firepower.”
  • [00:46] Pentagon Update (Jennifer Griffin):
    • Two US Navy destroyers faced missile, drone, and fast boat attacks yesterday but intercepted the threats.
    • General Dan Kaine notes: “The strait is much calmer today.”
      ([01:08])

• Despite the calm, the US blockade on Iran's ports remains.

2. Domestic Politics: Primary Elections and Redistricting

• Primary elections are being held in Ohio and Indiana, with intraparty GOP battles—seven Republican state senators face Trump-backed challengers over congressional redistricting disputes.

• Redistricting efforts have significant electoral implications for both GOP and Democrats in multiple states.

  Timestamps and Notable Quotes:

  • [01:08] Dave Anthony:
    “…seven Republican state senators facing GOP challengers backed by President Trump trying to unseat those senators for joining Democrats blocking a Congressional redistricting…”
  • [01:37] Tanya J. Powers:
    “Now House Minority Leader Hakeem Jeffries, a Democrat representing New York, says he’s working on a plan to redraw congressional maps in his home state…”
    Details on the legal steps required for New York redistricting due to constitutional limitations.

3. Markets and Oil Prices

• Stock markets are rallying: Nasdaq hits a record high, approaching the 220-point mark; Dow and S&P500 also up.

• Oil prices drop nearly 4% to $102 per barrel, but gasoline prices continue to rise.

  Timestamps and Notable Quotes:

  • [01:57] Dave Anthony:
    “On Wall Street, stocks are rising this morning… oil prices drop almost 4%. WTI back down to 102 bucks a barrel, though gas prices are up another 3 cents.”
  • [02:29] President Trump (audio clip):
    “I see it [oil price] going down very substantially when this is over, Chris. I think very rapidly for now.”
  • The national average for gas climbs to $4.48—up 50% since the start of the conflict.

4. Meta Faces New Mexico Lawsuit

• New Mexico state pushes “phase two” of legal action against Meta, aiming to designate the company a “public nuisance.”

• This follows a March jury verdict that Meta violated state laws due to harm caused to children.

• The settlement concludes the court drama that was prompted in part by issues arising during filming of "It Ends With Us."

  Timestamps and Notable Quotes:

  • [02:58] Dave Anthony:
    “Meta is being taken back to court… wanting a judge to declare Meta a public nuisance. It follows a decision by a jury in March…”

5. Hollywood Legal Settlement: Lively vs. Baldoni

• Actress Blake Lively sued director Justin Baldoni, alleging harassment and defamation; most claims were thrown out, with a few moving to breach-of-contract and retaliation.

• A settlement was reached before trial; terms remain confidential.

  Timestamps and Notable Quotes:

  • [03:20] Todd Pyro:
    “Lively accused Baldoni… of harassment and waging a smear campaign against her, which Baldoni denied. He says she falsely accused him…”
  • “Last month, the Judge tossed out 10 of Lively’s 13 allegations… claims that were allowed to move forward included breach of contract and retaliation.”
  • Both parties’ lawyers held weekend meetings and finalized a deal yesterday.

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Memorable Moments & Soundbites

• [00:22] Hegseth: “We’re not looking for a fight. But Iran also cannot be allowed to block innocent countries and their goods from an international waterway.”
• [00:33] Hegseth: “If you attack American troops or innocent commercial shipping, you will face overwhelming and devastating American firepower.”
• [01:08] Jennifer Griffin: “The strait is much calmer today.”
• [02:29] Trump: "I see it going down very substantially when this is over."

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Important Segment Timestamps

• 00:03–01:15: Strait of Hormuz updates, US/Iran tensions, military actions
• 01:16–01:37: US political primaries, redistricting challenges in Ohio, Indiana, New York
• 01:57–02:32: Financial markets, oil/gas prices, President Trump's comments
• 02:32–03:09: Meta lawsuit in New Mexico, jury findings
• 03:20–03:53: Blake Lively vs. Justin Baldoni legal settlement

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This concise yet detailed update is ideal for listeners seeking the latest headlines and context on pressing US and international issues as of May 5, 2026.

Transcript

[A]

The ceasefire with Iran is not over. I'm Dave Anthony, FOX News. Despite attacks and counterattacks in the Strait of Hormuz.

[B]

But certainly we would urge Iran to be prudent.

[A]

War Secretary Pete Hegseth as the US Military in a new operation, Project Freedom Works to escort hundreds of oil tankers and other ships stranded in the strait.

[B]

We're not looking for a fight. But Iran also cannot be allowed to block innocent countries and their goods from an international waterway.

[A]

So Hegseth warns to what remains of

[B]

Iran's forces, if you attack American troops or innocent commercial shipping, you will face overwhelming and devastating American firepower.

[A]

But Iran has its own warning not to drag this back into a quagmire that after attacking ships, both commercial and

[C]

US Military yesterday, two US Navy destroyers crossed through the strait but faced incoming missiles, drones and Iranian fast boats, which they had to defend against shooting down the missiles before they got close. Yesterday, the cease fire looked increasingly shaky today. As of now, Iran, Iran has not fired any missiles or drones. General Kaine said the strait is much calmer today.

[A]

Fox's Jennifer Griffin at the Pentagon referencing Joint Chiefs Chairman General Dan Kaine, who said this morning US Blockade on Iran's ports remains in place. It's primary day in two states, Ohio and Indiana, where there are seven Republican state senators facing GOP challengers backed by President Trump trying to unseat those senators for joining Democrats blocking a congressional redistricting in Indiana that could have helped the GOP gain more House seats in the November elections like in Texas and Missouri. Democrats have countered that. And California and Virginia and maybe New York.

[C]

Now House Minority Leader Hakeem Jeffries, a Democrat representing New York, says he's working on a plan to redraw congressional maps in his home state. New York's constitution bars the altering of state voting maps and gives the Independent Redistricting Commission sole authority over redrawing them. Any changes would have to be okayed by state lawmakers and a majority of voters.

[A]

That's Tanya J. Powers. America's listening to FOX News. On Wall street, stocks are rising this morning. The Nasdaq had lifted a little bit ago to a new all time high. It's now 218 points. The Dow is gaining 211. The S&P 500 adding 48 as oil prices drop almost 4%. WTI back down to 102 bucks a barrel, though gas prices are up another 3 cents. President Trump insists a big spike up in this Iran conflict's temporary and I

[B]

see it going down very substantially when this is over. Chris.

[A]

I think very rapidly for now. AAA's national average for regular is up about 50% since the start of the fighting with Iran at $4.48 a gallon now, the highest price since the surge that peaked in July 2022 after a war broke out in Iran. Facebook and Instagram Parent company Meta is being taken back to court in New Mexico for what the state is calling phase two, wanting a judge to declare Meta a public nuisance. It follows a decision by a jury in March that found Meta violated New Mexico's law with a product that is harmful to children. It ends with a settlement, the real life legal drama that started during the filming of the movie. It ends with us in a case that pitted actress Blake Lively against the director Justin Baldoni.

[B]

The trial was set to begin in two weeks. Lively accused Baldoni, who was also her director, of harassment and waging a smear campaign against her, which Baldoni denied. He says she falsely accused him in an attempt to repair her reputation. Last month, the Judge tossed out 10 of Lively's 13 allegations against the actor, including sexual harassment, defamation and conspiracy. The claims that were allowed to move forward included breach of contract and retaliation. Lively and Baldoni's lawyers reportedly held meetings over the weekend and finalized the deal yesterday. Terms of this settlement have not been made public.

[A]

That's Todd Pyro. I'm Dave Anthony and this is FOX News.

[C]

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