4PM ET 05/05/2026 Newscast

Summary

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Fox News Hourly Update – 4PM ET, May 5, 2026

Overview
This episode delivers a fast-paced summary of top national and international news, focusing primarily on escalating tensions between the U.S. and Iran, updates on a blocked climate regulation, major domestic crime news, Wall Street highlights, and developments concerning a cruise ship health crisis and New York City’s congestion pricing.

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Key Discussion Points & Insights

1. U.S.–Iran Confrontation & “Project Freedom”

• Tougher U.S. Stance Against Iran ([00:02]–[00:44])
  • Secretary of State Marco Rubio emphasized increasing U.S. leverage over Iran as American and allied build-up continues a blockade of Iranian ports.
    • Rubio: "Look, the Times come for Iran to make a sensible choice." ([00:07])
  • The U.S. is in day two of “Project Freedom”, designed to safely reopen the Strait of Hormuz for shipping.
    • Rubio: "The goal here is pretty simple. Establish a zone of transit that is protected by a bubble, the United States, both naval and air assets, and then allow ships who want to move to move through there..." ([00:22])
  • The operation is described as strictly defensive in nature with a ceasefire in effect.
    • Rubio: "We are only responding if attacked first. This is a defensive operation." ([00:40])
  • Rubio rebuffs Iranian control of international waterways, highlighting President Trump’s resolve.
  • President Trump claims Iran seeks a deal behind closed doors despite public defiance, and that the current economic cost is justified.
    • Trump (summarized): Oil prices could be higher, but “that’s a very small price to pay for getting rid of a nuclear weapon from people that are really mentally deranged.” ([00:44])
  • Democrats in Congress criticize the confrontation as a political choice raising prices for Americans.

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2. Domestic Crime Update

• Attempted Assassination Indictment ([01:14])

  • Cole Allen, accused of attempting to assassinate President Trump at a D.C. event, has been indicted on four counts, including attempted assassination, gun charges, and assaulting a federal officer.

• Texas Mall Shooting ([01:27])

  • Police near Dallas arrest a 69-year-old male suspect after he allegedly opened fire near a shopping mall, killing two and injuring three others in what may have stemmed from a business dispute.

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3. Financial Markets

• Stock Market Rally ([01:40], [03:39])
  • Wall Street surges:
    • Dow up 356 points, closing above 49,000.
    • S&P and Nasdaq set record closes.
    • Oil prices drop over 3%/more than $3 a barrel, with U.S. crude falling below $102.

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4. Climate Regulation Rollback

• SEC Climate Rule Nears Official Repeal ([02:04])
  • Chris Foster reports on the Biden-era Securities and Exchange Commission (SEC) rule requiring companies to disclose greenhouse gas emissions and climate risks:
    • The rule was never implemented due to legal challenges and has been frozen by court order.
    • After Trump resumed office, the SEC halted its legal defense and is poised to rescind the rule formally.
    • Rescission process now moves through the White House and SEC, and includes opportunity for public comment.

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5. Public Health & Safety

• Cruise Ship Hantavirus Outbreak ([02:34])
  • A cruise ship remains stranded off West Africa due to a hantavirus outbreak attributed to rodents:
    • Three passengers dead, at least four more ill.
    • Passengers are isolating in cabins while awaiting approval to dock and for medical evacuations.

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6. Legal and Urban Policy News

• Congestion Pricing in NYC ([02:57])
  • The Trump administration appeals a court ruling that blocked federal efforts to stop New York City’s congestion pricing program.
    • NYC’s policy, a first in the nation, charges vehicles to enter parts of Manhattan, raising over half a billion dollars in its first year.
    • Governor Kathy Hochul touts the program’s success in curbing traffic and pollution.
    • The federal case advances to the 2nd U.S. District Court of Appeals.

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Notable Quotes & Memorable Moments

• Marco Rubio, Secretary of State:
  • “Look, the Times come for Iran to make a sensible choice.” ([00:07])
  • “Establish a zone of transit that is protected by a bubble, the United States, both naval and air assets...” ([00:22])
  • “We are only responding if attacked first. This is a defensive operation.” ([00:40])
• President Trump (summarized by Lisa Brady):
  • “[O]il prices would be much higher than they have been. That's a very small price to pay for getting rid of a nuclear weapon from people that are really mentally deranged.” ([00:44])
• Chris Foster (on climate rule rollback):
  • “[SEC climate rule] never actually went into effect... The SEC is moving now to formally rescind the rules.” ([02:04])
• Gernall Scott (on NYC congestion pricing):
  • “New York City is the first U.S. municipality to use a congestion pricing fee structure for cars to enter parts of the city.” ([03:16])

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Timestamps for Key Segments

• [00:02] – U.S.–Iran tension response, Project Freedom overview
• [01:14] – Trump assassination attempt indictment
• [01:27] – Texas mall shooting details
• [01:40], [03:39] – Stock market rally, oil price drop
• [02:04] – SEC climate rule rollback steps
• [02:34] – Cruise ship hantavirus outbreak update
• [02:57] – NYC congestion pricing lawsuit and context

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Tone: Fast, direct, and focused on headline-driven news delivery, reflecting classic Fox News pacing and emphasis.

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End of Summary

Transcript

[Lisa Brady]

A message to Iran from the top US Diplomat on Lisa Brady, FOX News.

[Marco Rubio]

Look, the Times come for Iran to make a sensible choice.

[Lisa Brady]

Secretary of State Marco Rubio says US Leverage on Iran is growing by the day as a blockade of Iranian ports continues. And now it's day two of Project Freedom, aimed at getting ships moving through the Strait of Hormuz.

[Marco Rubio]

The goal here is pretty simple. Establish a zone of transit that is protected by a bubble, the United States, both naval and air assets, and then allow ships who want to move to move through there and get to market to begin to increase confidence in the ability to do so.

[Lisa Brady]

Also emphasizing it's not an offensive operation with a ceasefire still in effect.

[Marco Rubio]

We are only responding if attacked first. This is a defensive operation.

[Lisa Brady]

Rubio says Iran can't be allowed to make control of an international waterway a new normal and that President Trump is standing up to a rogue regime. The president says Iran wants to make a deal even if they remain defiant publicly and that he thought oil prices would be much higher than they have been. That's a very small price to pay for getting rid of a nuclear weapon from people that are really mentally deranged. Democrats in Congress call the conflict with Iran a choice that's leaving Americans with higher prices for gas and a growing number of other goods. The man accused of trying to kill the president during a dinner event at a D.C. hotel last month is now indicted by a federal grand jury. Cole Allen facing four counts including attempted assassination, two gun related charges and assaulting a federal officer. Police north of Dallas say a man opened fire near a shopping mall, possibly during a business related meeting, shooting five people, killing two. The 69 year old suspect arrested after a short foot chase. A rally on Wall Street. The Dow up 356 points at the bell as oil prices were sliding down more than 3% or more than $3 a barrel. America is listening to Fox News. Another Biden era climate rule is closer to being dropped.

[Chris Foster]

This one never actually went into effect. 2024 reg. Requiring publicly traded companies to disclose to investors information on greenhouse gas emissions and the effects of severe weather on and climate related risks to their business. There were legal challenges, a court ordered freeze on enforcement. And when President Trump retook office in 2025, the securities and Exchange Commission voted to withdraw the legal defense and the case was suspended. The SEC is moving now to formally rescind the rules. That goes through the White House Budget Office, then back to the SEC for a vote, public comment and a final vote.

[Lisa Brady]

Fox's Chris Foster. A cruise ship still in search of approval to dock after a deadly outbre of rodent driven hantavirus, killing three passengers, leaving at least four others sick. Passengers are isolating in cabins as that vessel waits for medical evacuations off West Africa. The Trump administration is appealing after a federal judge rejected a challenge of New York City's congestion pricing.

[Gernall Scott]

The federal government seeks to reverse U.S. district Judge Lewis Lyman's ruling in March saying the U.S. department of Transportation could not unilaterally act to end the program. New York City's Metropolitan Transportation Authority put the tolling structure in place to help reduce traffic and pollution in parts of Manhattan. New York Governor Kathy Hochul said congestion pricing brought in more than half a billion dollars in its first year. The federal government filed its case with the 2nd U.S. district Court of Appeals. New York City is the first U.S. municipality to use a congestion pricing fee structure for cars to enter parts of the city. In New York, Gernall Scott, FOX News.

[Lisa Brady]

Recapping stocks, the dow back over 49k, up 356 points, a record close for the S and P and the Nasdaq as oil prices fell. US crude slipping under $102 a barrel during the session. And Lisa Brady. This is FOX News.