10AM ET 05/28/2026 Newscast

Summary

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Fox News Hourly Update – 10AM ET May 28, 2026

Main Theme:
This episode provides a fast-paced roundup of breaking international events, U.S. economic data, ongoing domestic protests, major sports news, and financial updates, highlighting rapid developments and their broader implications.

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1. Middle East Ceasefire Violation and Rising Tensions

Key Points:

• The U.S. military condemns Iran’s drone and missile attacks as an “egregious ceasefire violation.”
  • U.S. forces intercepted Iran's drones targeting a commercial ship.
  • Iran retaliated with missiles aimed at Kuwait, which were shot down.
• The latest exchange escalates tension amid fragile diplomatic efforts between the U.S. and Iran and ongoing conflict between Israel and Hezbollah.
  • Israeli airstrikes hit Tyre and Sidon in Lebanon after evacuation orders, reportedly killing at least eight.

Notable Quotes:

• “It's an egregious ceasefire violation. I'm Dave Anthony, Fox News. That's what the U.S. military says about Iran targeting a commercial ship with drones.” – Dave Anthony [00:03]
• “The exchange of fire comes amid efforts to reach a deal between the United States and Iran and the ongoing conflict between Israel and Iran’s largest proxy, Hezbollah.” – Trey Yingst [00:19]

Timestamps:

• [00:03] – U.S.–Iran escalation and American interception of drones
• [00:19] – Context from Tel Aviv, Israeli strikes on Lebanon

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2. Economic Updates: Inflation and GDP Under Pressure

Key Points:

• Mixed signals from the economy:
  • April’s PCE price index shows inflation up 0.4%, slightly less than anticipated.
  • Year-over-year inflation sits at 3.8%.
  • Revised GDP for early 2026 indicates 1.6% growth, below the previous 2% estimate.

Notable Quotes:

• “The numbers on inflation and the economy are mixed. The PCE price index for April found inflation up 4/10 of a percent, a little lighter than expected...the increase was 3.8%.” – Ginny Casola [00:49]
• “That is less than expected and less than the initial 2% GDP report.” – Dave Anthony [01:10]

Timestamps:

• [00:49] – Mixed economic indicators analysis
• [01:10] – GDP revision details

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3. Immigration Protest and Hunger Strike Controversy

Key Points:

• Protests outside a Newark, NJ ICE facility intensify, some protesters verbally confronting ICE agents.
• Protesters react to reports of a detainee hunger strike over alleged poor living conditions.
• Homeland Security Secretary Mark Wayne Mullen denies mistreatment, describing conditions as “above and beyond.”

Notable Quotes:

• “Quit your job and kill yourself.” – Protesters’ chant [01:19–01:21]
• “Not only do we provide them a safe place to stay and the food and a place to sleep, but we're also giving them a convenience store...we're going above and beyond.” – Sec. Mark Wayne Mullen [01:33]

Timestamps:

• [01:19] – Protesters’ confrontation
• [01:33] – Sec. Mullen’s defense

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4. Breaking Sports News: Shock at French Open

Key Points:

• Jannik Sinner, men’s number one seed, is eliminated in the second round of the French Open.
• Raises questions over tournament unpredictability.

Notable Quotes:

• “Jannik Sinner, the number one men's seat at the French Open just lost, knocked out in the second round of the second Grand Slam tournament of the year.” – Dave Anthony [01:45]

Timestamps:

• [01:45] – Tennis upset at the French Open

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5. Financial Markets and Gas Prices

Key Points:

• Markets retreat after economic data; Dow, Nasdaq, and S&P all down.
• Oil prices rise (~2%), yet gas pump price drops by 3 cents to $4.42/gallon nationally – the lowest in almost four years.

Notable Quotes:

• “On Wall Street, they're selling after today's economic reports...Oil is up about 2%. But the price of the gas pump has dropped 3 cents...” – Dave Anthony [02:11]

Timestamps:

• [02:11] – Stock market and gas price trends

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6. Political Clash Over “Anti-Weaponization” Fund

Key Points:

• President Trump drops lawsuit against the IRS after creating a controversial $1.8 billion fund.
• California Governor Newsom proposes a 100% tax on any payouts from this fund.
• Debate centers on possible payments to January 6 defendants and lack of Congressional consultation.

Notable Quotes:

• “California Governor Gavin Newsom says he wants to impose a 100% tax on payments anyone in his state receives from what he calls a $1.8 billion slush fund created by the Trump administration.” – Tonya J. Powers [02:48]
• “President Trump bills the money as an anti-weaponization fund and did not consult lawmakers before announcing it...” – Tonya J. Powers [02:48]

Timestamps:

• [02:48] – Newsom’s pushback and fund controversy

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7. Baseball’s Labor Tensions and Collective Bargaining

Key Points:

• Uncertainty looms over next MLB season as the current labor deal ends in December.
• Owners to propose a salary cap, opposed by players.
• Players’ union seeks broader free agency, more arbitration, and a “competitive integrity tax” for teams with low payrolls.

Notable Quotes:

• “With a collective bargaining agreement...set to expire in December and an expectation of a work stoppage...Major League Baseball is expected to propose a salary cap Thursday...players have vowed they would never sign on.” – Jared Max [03:29]
• “The union also wants to see high revenue teams share more with less wealthy teams.” – Jared Max [03:29]

Timestamps:

• [03:29] – MLB labor standoff and union demands

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8. Sports Recap

Key Points:

• Chicago Cubs end a ten-game losing streak with a win over Pittsburgh.

Notable Quotes:

• “The Chicago cubs snapped a 10 game losing streak, beating Pittsburgh.” – Dave Anthony [04:06]

Timestamps:

• [04:06] – Cubs break their losing streak

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Tone and Presentation:
True to Fox News’ brisk and direct style, the episode delivers urgent updates with clarity and a focus on impact, often using pointed attribution and short, matter-of-fact commentary.

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Transcript

[A]

It's an egregious ceasefire violation. I'm Dave Anthony, Fox News. That's what the U.S. military says about Iran targeting a commercial ship with drones. The drones were shot down by American forces and then Iran fired missiles at Kuwait that that country shot down. And fox's Trey Angst reports from Tel Aviv.

[B]

The exchange of fire comes amid efforts to reach a deal between the United States and Iran and the ongoing conflict between Israel and Iran's largest proxy, Hezbollah. The IDF overnight launched a series of heavy strikes targeting the southern Lebanese sea city of Tyre and further north in Sidon after evacuation orders were given. At least eight people were killed.

[A]

Now that continued volatility amid talks trying to end that conflict has oil prices rising back up this morning. And we have new updates to the economy. Fox's Ginny Casola has them.

[C]

The numbers on inflation and the economy are mixed. The PCE price index for April found inflation up 4/10 of a percent, a little lighter than expected for the year ending in April, though the increase was 3.8%. Also, the gross domestic product for the the start of the year has been revised. Lower economic growth measured by the GDP came in at 1.6%.

[A]

That is less than expected and less than the initial 2% GDP report. The days long anti ICE protest rages on outside an immigration detention facility in Newark, New Jersey.

[D]

Quit your job and kill yourself.

[E]

Quit your job and kill yourself.

[A]

As protesters confront ICE agents angry over reports some detainees inside are on a hunger strike over living conditions, which Homeland Security Secretary Mark Wayne Mullen denies are

[D]

bad, telling Fox not only we revive them a safe place to stay and the food and a place to sleep, but we're also giving them a convenience store to be able to buy products out of. So we're going above and beyond.

[A]

Breaking tennis news out of Paris, Jannik Sinner, the number one men's seat at the French Open just lost, knocked out in the second round of the second Grand Slam tournament of the year. America's listening to FOX news.

[E]

When your home system or appliance breaks down, American Home Shield will help fix or replace the covered item, no matter its age. Visit ahs.com listen for 20% off any plan.

[A]

See ahs.com contracts for coverage, details, limitations and exclusions. On Wall street, they're selling after today's economic reports. The day after record highs for all three major indices. The dow is down 140 points. The NASDAQ's down 17. The S&P 500 losing a fraction. Oil is up about 2%. But the price of the gas pump has dropped 3 cents, triple H national average for regulars down to $4.42 per gallon. That is 414 cents less than a week ago when gas was at an almost four year high. There's more pushback to the Trump administration's new fund that came out of the president dropping his lawsuit against the IRS.

[F]

California Governor Gavin Newsom says he wants to impose a 100% tax on payments anyone in his state receives from what he calls a $1.8 billion slush fund created by the Trump administration. It's similar to efforts by Democratic state lawmakers in New York and New Jersey. President Trump bills the money as an anti weaponization fund and did not cons lawmakers before announcing it, refusing to rule out payments to people convicted of crimes in connection with the riot at the U.S. capitol on January 6, 2021. Democrats and even some Republicans have criticized the fund. Tonya J.

[A]

Powers, FOX News the baseball season's far from over. The World Series is until October, but there's concern about whether they'll play ball next year.

[G]

With a collective bargaining agreement between Major League Baseball and its players association set to expire in December and an expectation of a work stoppage through an owners lockout, Major League Baseball is expected to propose a salary cap Thursday, which exists in some form in the other three major pro sports leagues in North America, but not in mlb, where players have vowed they would never sign on. For this Wednesday, the players association asked for expanded free agency, salary arbitration rights and other matters like a competitive integrity tax that would penalize teams who don't meet a payroll threshold. The union also wants to see high revenue teams share more with less wealthy teams. Jared Max, FOX NEWS on the field

[A]

last night, the Chicago cubs snapped a 10 game losing streak, beating Pittsburgh. I'm Dave Anthony. This is FOX News.