12PM ET 05/05/2026 Newscast

Summary

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Fox News Hourly Update – 12PM ET, May 5, 2026

Episode Overview

This midday newscast from Fox News delivers rapid-fire updates on major global and national news: mounting U.S.-Iran tensions, renewed U.S. fitness initiatives, news on a possible Jeffrey Epstein-related document release, new developments in the Ukraine-Russia conflict, as well as tech industry cooperation with government oversight of artificial intelligence models. Each segment features commentary from news anchors and government officials, offering Fox’s hard-hitting, straightforward reporting style.

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Key Discussion Points & Insights

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1. U.S.–Iran Tensions Escalate

• President Trump on Iran: President Trump maintains a tough stance, claiming that Iran "has no chance" and highlighting their alleged internal weakness versus their public bravado.

  • Quote: “Iran has no chance. They never did. They know it.” — President Trump (00:06)
  • Trump accuses Iran’s leaders of dishonesty and labels them “lunatics,” insisting the U.S. will not allow Iran nuclear capabilities.
  • Quote: “They can't be allowed to have a nuclear weapon. It's not going to happen. And we have beaten them badly.” — President Trump (00:19, 00:24)
  • He mocks Iran’s military, referencing “little boats with a machine gun on the front of them.” (00:24)

• Conflict in the Strait of Hormuz: U.S. Navy escorts continues despite Iranian missiles and drone attacks. The UAE is under attack for a second day.

  • U.S. Military does not classify these actions as violations of the ongoing ceasefire, but Iran argues the U.S. operation ("Project Freedom") is itself a violation. (00:34)
  • Official response: "No, the ceasefire is not over. Ultimately, this is a separate and distinct project." — Secretary Pete Hegseth (00:59)

• Maritime Safety Updates: Two U.S.-flagged ships have safely crossed the strait amid ongoing tension, while Iran claims to intensify its control. (01:04)

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2. Restoration of the Presidential Fitness Test

• Trump’s Domestic Initiative: In the midst of geopolitical turmoil, President Trump announces the return of the Presidential Fitness Test Award during an Oval Office event.

  • Quote: “We’re striving constantly to make America healthy again and that’s what we’re doing.” — President Trump (01:20)
  • The program is relaunched with support from Secretary Kennedy and athletes such as golfer Bryson DeChambeau in attendance. Trump frames this as part of a broader push for national health.

• Policy History and Debate:

  • The original competitive benchmarks were phased out under President Obama and replaced due to criticism that they discouraged less-athletic students. (01:40)

• Military Perspective:

  • Quote: “Physical fitness is a huge priority to helping them become better human beings in general for our nation.” — Pete Hegseth (01:33)

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3. Epstein Note May Be Unsealed

• Legal Update: Federal prosecutors support a push to unseal a note purportedly written by Jeffrey Epstein before his death in 2019.
  • The note was found by Epstein’s cellmate, Nicholas Taglione, hidden inside a book after a failed suicide attempt. It reportedly read, “It was time to say goodbye.”
  • The note was withheld due to its connection to Taglione’s criminal case; prosecutors now say there is "no longer a compelling interest in keeping the item sealed." (02:06–02:46)
  • The New York Times is leading the petition for release.

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4. Ukraine-Russia Conflict Update

• Ceasefire Contradictions:
  • Ukraine's president condemns new Russian attacks—missiles and drone strikes killing at least five and wounding 30—despite Russia's announcement of a unilateral ceasefire later that week.
  • Russia announces the ceasefire for Friday and Saturday, threatening retaliation if Victory Day celebrations are disrupted. (02:46)
  • Ukrainian forces continue attacks on Russian oil facilities.

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5. AI Oversight by U.S. Government

• Pre-Release Government Review: Three leading tech companies—Google owner Alphabet, Microsoft, and Elon Musk's XAI—agree to give the federal government early access to new AI models for national security evaluation before public release
  • Effort coordinated by the Commerce Department’s Center for AI Standards and Innovation.
  • Existing agreements with OpenAI and Anthropic have been updated under the Trump administration’s AI Action Plan. Over 40 AI model evaluations have been conducted, including unreleased models. (03:17–03:50)

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6. Markets Brief

• Stock Market: Wall Street reaches new highs as oil prices fall, with the Dow up 258 points. (03:50)

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Notable Quotes & Memorable Moments

• President Trump:

  • “Iran has no chance. They never did. They know it.” (00:06)
  • “We have beaten them badly. They're talking now. They're reduced to little boats with a machine gun on the front of them.” (00:24)
  • “We’re striving constantly to make America healthy again and that’s what we’re doing.” (01:20)

• Pete Hegseth:

  • “No, the ceasefire is not over. Ultimately, this is a separate and distinct project.” (00:59)
  • “Physical fitness is a huge priority to helping them become better human beings in general for our nation.” (01:33)

• Federal Prosecutors/Epstein Note:

  • “There’s no longer a compelling interest in keeping the item sealed.” (02:46)

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Timestamps for Important Segments

• U.S.–Iran tensions, Trump statements: 00:02–01:04
• Restoration of Presidential Fitness Test: 01:04–01:40
• Epstein evidence & legal update: 02:06–02:46
• Ukraine–Russia Conflict: 02:46–03:17
• AI industry cooperation with government: 03:17–03:50
• Stock Market Brief: 03:50–End

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Fox News delivers an information-packed update with geopolitical, domestic, technology, and financial news–all in just under four minutes.

Transcript

[Lisa Brady]

President Trump keeping up the pressure on Iran on Lisa Brady, Fox News.

[President Trump]

Iran has no chance. They never did. They know it.

[Lisa Brady]

President Trump moments ago saying the regime admits as much privately but then talks differently in public.

[President Trump]

And then I read the papers and they say how well they're doing. They're not doing well.

[Lisa Brady]

He calls Iran's leaders lunatics and says they can't be allowed to have a nuclear weapon.

[President Trump]

It's not going to happen. And we have beaten them badly. They're talking now. They're reduced to little boats with a machine gun on the front of them.

[Lisa Brady]

Though the US Military has had to defend against those small boats as well as drones and missiles during an operation that began yesterday aimed at guiding stranded ships through the Strait of Hormuz. The United Arab Emirates says it's under attack for a second day from Iranian missiles and drones. But the US Military does not consider that or the small attack boats in the Strait to be ceasefire violations. Iran says the U.S. project Freedom violates the ceasefire.

[Pete Hegseth]

No, the cease fire is not over. Ultimately, this is a separate and distinct project.

[Lisa Brady]

War Secretary Pete Hegseth says two US Flagged ships have passed through the strait so far, but state media claims Iran's control over the strait has intensified. President Trump's comments coming during an Oval Office event announcing the restoration of the Presidential Fitness Test Award.

[President Trump]

With the help of Secretary Kennedy, who's with us, we're striving constantly to make America healthy again and that's what we're doing.

[Lisa Brady]

Pro athletes also on hand, including golfer Bryson Dechambeau.

[Pete Hegseth]

Physical fitness is a huge priority to helping them become better human beings in general for our nation.

[Lisa Brady]

The competitive school based benchmarks had been phased out under President Obama and replaced by the Presidential Youth Fitness Program, with critics arguing the competitive format focused too much on performance, discouraging less athletic students. America is listening to Fox News. A piece of evidence linked to Jeffrey Epstein and long concealed could be released by a judge.

[News Reporter]

A push to unseal a note purportedly written by convicted sex offender Jeffrey Epstein weeks before he was found dead, gets support from federal prosecutors. That note was hidden from public view because it was tangled up in the criminal case of his cellmate, convicted quadruple murderer Nicholas Taglione, who told the New York Times he discovered the note, which said it was time to say goodbye, tucked inside a book after Epstein's unsign successful suicide attempt in July of 2019. The New York Times petitioning for that note to be unsealed and federal prosecutors who now agree, telling the judge there's no longer a compelling interest in keeping the item sealed.

[Lisa Brady]

Lillian Wu, Fox News Ukraine's president criticizing Russia for launching attacks after announcing a unilateral ceasefire for later this week. Ukrainian officials say drones and missile strikes targeting Ukraine's power grid have killed at least five people, wounding more than 30. Russia's defense ministry declared a ceasefire fire for Friday and Saturday, warning of retaliation if Ukraine disrupts Victory Day celebrations. Ukrainian forces have continued attacks on Russian oil facilities. Three big tech companies agree to a government review of new AI models.

[Pete Hegseth]

Google owner Alphabet, Microsoft and Elon Musk's XAI will give the federal government early access to new artificial intelligence models before their public release to assess their capabilities and check for national security risks, including the potential for military use and cyber attacks. The agreement is with the Commerce Department's center for AI Standards and Innovation. The center says 2024 agreements with ChatGPT developer OpenAI and Anthropic have been renegotiated to align with the Trump administration's AI Action Plan and that more than 40 evaluations have been completed, including on some models not yet available to the public.

[Lisa Brady]

Fox's Chris Foster new highs on Wall street as oil prices fall. The Dow is up to 58 on. Lisa Brady, Fox News.