President Donald Trump said Monday on Truth Social that Israel and Hezbollah both agreed to not attack the other.
"I had a very productive call with Prime Minister Bibi Netanyahu, of Israel, and there will be no Troops going to Beirut, and any Troops that are on their way, have already been turned back," Trump said. "Likewise, through highly placed Representatives, I had a very good call with Hezbollah, and they agreed that all shooting will stop."
Energy stocks were higher Monday afternoon, with the NYSE Energy Sector Index rising 1.9% and the State Street Energy Select Sector SPDR ETF (XLE) adding 1.7%.The Philadelphia Oil Service Sector Index increased 0.6%, and the Dow Jones US Utilities Index fell 2.3%.In sector news, Iran's reported threats to halt the indirect peace talks with Washington sent crude oil prices higher. Iranian negotiators will stop exchanging messages with the US through intermediaries, and Tehran will fully close the Strait of Hormuz in retaliation against ongoing ceasefire violations, CNBC reported, citing Iran's state-affiliated news outlet Tasnim on Monday. The report, in a translated post on the social media site Telegram, homed in on Israel's military operations in Lebanon against the Iran-backed militia Hezbollah, CNBC reported.Front-month West Texas Intermediate jumped 6.3% to $92.86 a barrel, and the global benchmark Brent crude contract climbed 5.4% to $96.01 a barrel. Henry Hub natural gas futures fell 3.1% to $3.19 per 1 million BTU.In corporate news, BP (BP) is selling a 5% stake in the Browse liquefied natural gas project in Western Australia to GS Energy, leaving it with a 39.33% interest in the project, news outlets reported. BP shares added 3%.Equinor (EQNR) recommended that the company's corporate assembly elect Jarle Roth as new chair of the board, the company said. Equinor shares climbed 4.1%.Devon Energy (DVN) shares rose 3.6%. Reuters reported Friday that Devon received an $8 billion offer from Stone Ridge Asset Management for its Marcellus shale assets in Pennsylvania.Venture Global (VG) shares surged 8%. The company said its Venture Global LNG subsidiary plans to issue $2.25 billion of senior secured notes due 2034 and 2036 in a private offering.
Consumer stocks were lower Monday afternoon, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) shedding 1.4% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) down 2.1%.In corporate news, MGM Resorts International (MGM) shares jumped past 15% after the firm confirmed that it has received an offer from People Inc. to acquire all MGM shares that it does not already own for $48.30 per share in cash.Taylor Morrison Home (TMHC) shares surged 22% after the homebuilder agreed to be acquired and taken private by conglomerate Berkshire Hathaway (BRK.A, BRK.B) in an all-cash deal with an equity value of about $6.8 billion.Walmart (WMT) is capping its staff's usage of an artificial intelligence agent following a period of high demand, Bloomberg reported. The retail giant is now offering a limited amount of "tokens" per worker to use the AI agent, called Code Puppy, which helps employees with spreadsheets and presentations, among other tasks, the report said. Walmart shares were down 1.5%.