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Climbed to a record close, settling near 51,670, after a US-Iran framework to reopen the Strait of Hormuz sent oil prices tumbling.

International

US Equity Markets Mixed as Investors Weigh Reports of Iran's Updated Peace Proposal

US equity indexes were mixed on Monday as investors weighed reports of an updated peace proposal from Iran.* Iran has offered an updated proposal, which the White House sees as lacking meaningful improvement over the previous offer, rendering the latest version insufficient to reach a deal to end the war, a senior US official and a source briefed on the issue told Axios.* The National Association of Home Builders' monthly housing market index rose to a reading of 37 in May from 34 in April, compared with expectations for a 34 print in a survey compiled by Bloomberg.* The New York Federal Reserve's services index improved to minus 5.8 in May from minus 14.0 in April, the highest level since January 2025.* June West Texas Intermediate crude oil rose $0.73 to settle at $106.15 per barrel, while July Brent crude, the global benchmark, was last seen down $0.02 at $109.18.* NextEra Energy (NEE) and Dominion Energy (D) agreed to merge in an all-stock deal to create the world's largest regulated electric utility. Shares of Dominion were up about 9.3%, the biggest gainer on the S&P 500.* Regeneron Pharmaceuticals' (REGN) miss on the fianlimab trial may lead some investors to question the company's broader strategy and execution, RBC Capital Markets said in a note. Regeneron's shares fell nearly 10%, the steepest decline on the S&P 500 and the Nasdaq.

Dow JonesNasdaq CompositeS&P 500$D$NEE$REGN
Japan

US Equity Indexes Mixed, Crude Oil Rises as Trump Gives Chance to Middle East Diplomacy to Secure Iran Deal

US equity indexes were mixed as crude oil futures rose ahead of Monday's close amid reports that Middle East leaders called on President Donald Trump to hold off a "large-scale" attack on Iran on Tuesday.The Nasdaq Composite fell 0.7% to 26,047.9, with the S&P 500 down 0.2% to 7,394.8. The Dow Jones Industrial Average rose 0.2% to 49,633.8.Trump said Monday that he will "hold off" on a Tuesday plan to attack Iran, citing a request from the leaders of Qatar, Saudi Arabia, and the United Arab Emirates as he said negotiations to end the war grow more "serious," CNN reported Monday.Trump instructed his leadership "to be prepared to go forward with a full, large-scale assault of Iran, on a moment's notice" if a deal isn't reached, the US president added in his Truth Social post.This comes amid reports that Iran offered an updated proposal, which the White House adjudged lacking meaningful improvement over the previous offer, rendering the latest version insufficient to reach a deal to end the war, a senior US official and a source briefed on the issue told Axios.However, a senior Iranian source told Reuters that the US had agreed to release a quarter of Iran's frozen funds - totaling tens of billions of dollars - held in foreign banks. The Iranian source also told the news agency that Washington has shown more flexibility in allowing Iran to continue some peaceful nuclear activity under the supervision of the International Atomic Energy Agency.West Texas Intermediate crude oil futures climbed 1.2% to $106.64, and Brent crude futures advanced 0.7% to $109.99.

Dow JonesNasdaq CompositeS&P 500
Equities Mixed Intraday, Oil Rises as Traders Track Middle East Developments
Wire

Equities Mixed Intraday, Oil Rises as Traders Track Middle East Developments

US benchmark equity indexes were mixed after midday Monday as oil prices rose amid new developments in the Middle East conflict, while traders braced for Nvidia's (NVDA) latest financial results due out later in the week.The Nasdaq Composite was down 0.7% at 26,049.9 intraday, while the S&P 500 shed 0.3% to 7,387.2. The Dow Jones Industrial Average was 0.1% higher at 49,571.2. Most sectors were in the green, led by energy, while technology saw the steepest decline.West Texas Intermediate crude was up 1.5% at $107.01 per barrel, while Brent rose 1.4% to $110.84.Iran has provided an updated proposal for a deal to end the war with the US, though the White House indicated it doesn't reflect a meaningful improvement from a previous offer and is insufficient, Axios reported Monday, citing a senior US official and a source briefed on the matter.The Strait of Hormuz -- the world's most important chokepoint for crude flows -- remains largely shut as tensions between the US and Iran continue, with no end in sight. Over the weekend, US President Donald Trump said the "clock is ticking" for Iran to strike a deal.US Treasury yields were mixed intraday Monday, with the 10-year rate up 1.2 basis points at 4.61% and the two-year rate little changed at 4.08%.Nvidia shares were down 1.8%, the second-worst performer on the Dow. The chipmaking giant -- which is scheduled to release its latest quarterly results after the markets close Wednesday -- is considered by many investors as the "scoreboard" for the artificial intelligence boom, Saxo Bank said in a note Monday."The company does not only need to show that demand remains strong. It may need to show that demand is still accelerating, margins remain resilient, competition risk is contained, supply constraints are manageable, and China risk is manageable," Saxo said. "That is a high bar. And when the bar is high, even good news can create volatility."Retail giants Walmart (WMT), Home Depot (HD), TJX (TJX), Lowe's (LOW) and Target (TGT) are also expected to report this week.Home Depot and Lowe's are likely to lower their full-year guidance as the home improvement retailers face pressure from weak consumer sentiment, Oppenheimer said in a note.NextEra Energy (NEE) and Dominion Energy (D) agreed to merge in all-stock deal to create the largest regulated electric utility in the world. Dominion shares were up 8.6% intraday Monday, the second-biggest gainer on the S&P 500, while NextEra fell 6.6%.In economic news, US homebuilder confidence unexpectedly rose this month despite elevated mortgage rates, macro uncertainty and continued affordability challenges, data from the National Association of Home Builders and Wells Fargo showed."Soft homebuilder sentiment is consistent with our view that housing starts will mostly move sideways for the next couple of quarters before starting to edge up slightly around year-end, when we expect mortgage rates to be lower as the (Federal Reserve) implements the first of two rate cuts we expect," Oxford Economics said in a note.Gold was down 0.2% at $4,553.40 per troy ounce, while silver fell 0.2% to $77.41 per ounce.

Dow JonesNasdaq CompositeS&P 500$D$HD$LOW$NEE$NVDA$TGT$TJX$WMT
Asia Markets

US Equity Indexes Mixed, Crude Oil Rises as Iran Reportedly Sends Revised Peace Proposal

US equity indexes traded mixed as crude oil futures rose and government bond yields remained elevated after midday Monday amid reports of an updated peace proposal from Iran to end the war.The Nasdaq Composite fell 0.7% to 26,047.1, with the S&P 500 down 0.3% to 7,389.2. The Dow Jones Industrial Average rose 0.1% to 49,595.5.Technology and industrials led decliners intraday. Energy, financials, and communication services were among the top gainers.Iran has offered an updated proposal, which the White House sees as lacking meaningful improvement over the previous offer, rendering the latest version insufficient to reach a deal to end the war, a senior US official and a source briefed on the issue told Axios.However, a senior Iranian source told Reuters that the US had agreed to release a quarter of Iran's frozen funds - totaling tens of billions of dollars - held in foreign banks. The Iranian source also told the news agency that Washington has shown more flexibility in allowing Iran to continue some peaceful nuclear activity under the supervision of the International Atomic Energy Agency.Meanwhile, President Donald Trump is expected to meet top national security advisers on Tuesday to discuss options for resuming military action, Axios said in a separate news report. "The Clock is Ticking" for Iran, Trump said in a post on Truth Social at the weekend, adding that "they better get moving, FAST, or there won't be anything left of them. TIME IS OF THE ESSENCE!"West Texas Intermediate crude oil futures climbed 0.9% to $106.24, and Brent crude futures advanced 0.9% to $110.28.US Treasury yields traded mixed, but elevated. The 10-year was little changed at 4.6%, the highest since January 2025. The 30-year rate was steady at 5.13%, the strongest level since 2007.In precious metals, gold futures slipped 0.1% to $4,558.1, and silver futures were steady at $77.59.In economic news, the National Association of Home Builders' monthly housing market index rose to a reading of 37 in May from 34 in April, compared with expectations for a 34 print in a survey compiled by Bloomberg. The index was above the 34 print reported a year earlier."Recent increases for long-term interest rates will continue to hold back home buyer demand," said NAHB Chief Economist Robert Dietz. "Although some regional markets, including parts of the Midwest, are showing relative strength, the housing market continues to face significant affordability challenges."The New York Federal Reserve's services index improved to minus 5.8 in May from minus 14.0 in April, the highest level since January 2025. The index is the first services sector reading for May and suggests a slower contraction.In company news, NextEra Energy (NEE) and Dominion Energy (D) agreed to merge in an all-stock deal to create the world's largest regulated electric utility. Shares of Dominion jumped 8.8%, the second-biggest gainer on the S&P 500.Regeneron Pharmaceuticals' (REGN) miss on the fianlimab trial may lead some investors to question the company's broader strategy and execution, RBC Capital Markets said. Regeneron's shares sank 9.7%, the steepest decline on the S&P 500 and the Nasdaq.

Dow JonesNasdaq CompositeS&P 500$D$NEE$REGN
Asia Markets

Exchange-Traded Funds Decline, US Equities Mixed After Midday

Broad Market IndicatorsBroad-market exchange-traded funds IWM and IVV fell. Actively traded Invesco QQQ Trust (QQQ) shed 1%.US equity indexes were mixed in midday trading on Monday as crude oil futures rose amid reports of an updated peace proposal from Iran to end the war.EnergyIShares US Energy ETF (IYE) and the State Street Energy Select Sector SPDR (XLE) each rose about 1.9%.TechnologyThe State Street Technology Select Sector SPDR ETF (XLK) shed 1.9%; iShares US Technology ETF (IYW) fell 1.5%, and iShares Expanded Tech Sector ETF (IGM) was down 1.5%.The State Street SPDR S&P Semiconductor (XSD) dropped 4.3%, and iShares Semiconductor (SOXX) was down 3.2%.FinancialThe State Street Financial Select Sector SPDR (XLF) gained 0.8%. Direxion Daily Financial Bull 3X Shares (FAS) climbed 2.5%, and its bearish counterpart, Direxion Daily Financial Bear 3X Shares (FAZ), declined 2.4%.CommoditiesCrude oil rose 1.5%, and the United States Oil Fund (USO) added 1.9%. Natural gas gained 1.9%, and the United States Natural Gas Fund (UNG) was up 1.9%.Gold on Comex eased 0.3%, and the State Street SPDR Gold Shares (GLD) rose 0.1%. Silver dropped 0.5%, and iShares Silver Trust (SLV) added 0.9%.ConsumerThe State Street Consumer Staples Select Sector SPDR (XLP) rose 0.9%. The Vanguard Consumer Staples ETF (VDC) gained 0.8%, and iShares Dow Jones US Consumer Goods (IYK) was up 0.5%.The State Street Consumer Discretionary Select Sector SPDR (XLY) lost 0.2%. VanEck Retail ETF (RTH) rose 0.9%, and the State Street SPDR S&P Retail (XRT) added 0.2%.HealthcareThe State Street Health Care Select Sector SPDR (XLV) was up 0.1%, iShares US Healthcare (IYH) added 0.1%, and Vanguard Health Care ETF (VHT) rose fractionally. IShares Biotechnology ETF (IBB) eased 1.5%.IndustrialThe State Street Industrial Select Sector SPDR (XLI) dipped 0.7%. Vanguard Industrials Index Fund (VIS) and iShares US Industrials (IYJ) were also lower.CryptocurrencyIn midday activity, bitcoin (BTC-USD) fell 2.5%. Among cryptocurrency ETFs, ProShares Bitcoin ETF (BITO) lost 3.6%, ProShares Ether ETF (EETH) was down 5.6%, and ProShares Bitcoin & Ether Market Cap Weight ETF (BETH) was 4% lower.

Dow Jones^EEM^EXI^FAS^FAZ^GLD^IBB^IGM^IGV^IPK^IVV^IWMNasdaq Composite^IYE^IYH^IYJ^IYK^IYW^PMR^QQQ^RTH^SOXXS&P 500^SPY^UNG^USO^VDC^VHT^VIS^XLE^XLF^XLI^XLK^XLP^XLV^XRT^XSD$BETH$BITO$EETH
Japan

US Equity Indexes Trade Mixed as Iran Reportedly Sends Revised Peace Proposal

US equity indexes were mixed in midday trading on Monday as crude oil futures rose amid reports of an updated peace proposal from Iran to end the war.The Nasdaq Composite fell 0.8% to 26,018.3, with the S&P 500 down 0.4% to 7,380.6. The Dow Jones Industrial Average rose 0.1% to 49,559.1.Iran has offered an updated proposal, which the White House sees as lacking meaningful improvement over the previous offer, rendering the latest version insufficient to reach a deal to end the war, a senior US official and a source briefed on the issue told Axios.However, a senior Iranian source told Reuters that the US had agreed to release a quarter of Iran's frozen funds - totaling tens of billions of dollars - held in foreign banks. The Iranian source also told the news agency that Washington has shown more flexibility in allowing Iran to continue some peaceful nuclear activity under the supervision of the International Atomic Energy Agency.President Donald Trump is expected to meet top national security advisers on Tuesday to discuss options for resuming military action, Axios reported. He said in a post on Truth Social at the weekend that "the Clock is Ticking" for Iran, adding that "they better get moving, FAST, or there won't be anything left of them. TIME IS OF THE ESSENCE!"West Texas Intermediate crude oil futures climbed 2.1% to $107.64, and Brent crude futures advanced 2.1% to $111.55.

Dow JonesNasdaq CompositeS&P 500
Commodities

Exchange-Traded Funds, Equity Futures Lower Pre-Bell Monday Amid Stalled Iran Peace Efforts, Inflation Concerns

The broad market exchange-traded fund SPDR S&P 500 ETF Trust (SPY) was down 0.1%, and the actively traded Invesco QQQ Trust (QQQ) was 0.03% lower in Monday's premarket activity as stalled diplomatic efforts between the US and Iran fuel concerns about inflation.US stock futures were also lower, with S&P 500 Index futures down 0.4%, Dow Jones Industrial Average futures slipping 0.7%, and Nasdaq futures retreating 0.4% before the start of regular trading.The New York Fed's services sector index improved to negative 5.8 in May from negative 14.0 in April, signaling a slower pace of contraction.The National Association of Home Builders' index for May will be released at 10 am ET.The US Treasury's international capital standards report for March will be released at 4 pm ET.In premarket activity, bitcoin was down by 2%. Among cryptocurrency ETFs, the cryptocurrency fund ProShares Bitcoin Strategy ETF (BITO) was 2.9% lower, Ether ETF (EETH) retreated by 4.8%, and Bitcoin & Ether Market Cap Weight ETF (BETH) lost 0.9%.Power Play:TechnologyThe State Street Technology Select Sector SPDR ETF (XLK) was flat, and the iShares US Technology ETF (IYW) was 0.1% lower, while the iShares Expanded Tech Sector ETF (IGM) was up 0.4%. Among semiconductor ETFs, the State Street SPDR S&P Semiconductor ETF (XSD) was down 1.1%, while the iShares Semiconductor ETF (SOXX) lost 0.4%.LiveRamp (RAMP) shares were up more than 26% in premarket activity after the company agreed to be acquired by Publicis Groupe in an all-cash deal valued at about $2.17 billion. The company also reported higher fiscal Q4 financial results.Winners and Losers:EnergyThe iShares US Energy ETF (IYE) was up 0.8%, while the State Street Energy Select Sector SPDR ETF (XLE) was up by 0.04%.Dominion Energy (D) shares rose more than 15%, while NextEra Energy (NEE) stock declined over 1% after the companies agreed to merge in an all-stock deal.ConsumerThe State Street Consumer Staples Select Sector SPDR ETF (XLP) was down 0.02%, and the Vanguard Consumer Staples Index Fund ETF Shares (VDC) was 2% lower. The iShares US Consumer Staples ETF (IYK) was inactive. The State Street Consumer Discretionary Select Sector SPDR ETF (XLY) lost 0.6%. The VanEck Retail ETF (RTH) was inactive, while the State Street SPDR S&P Retail ETF (XRT) retreated by 0.3%.Ford Motor (F) shares were up more than 6% pre-bell after the company said it has outlined a revised Europe strategy built around new electric vehicles, commercial software services, and a broader product rollout through 2029.IndustrialThe State Street Industrial Select Sector SPDR ETF (XLI) advanced 0.1%, while the Vanguard Industrials Index Fund (VIS) retreated 0.01% and the iShares US Industrials ETF (IYJ) was down 0.3%.Ryanair (RYAAY) stock was up more than 4% before the opening bell after the company reported higher fiscal 2026 earnings and revenue.Health CareThe State Street Health Care Select Sector SPDR ETF (XLV) retreated by 0.6%, the Vanguard Health Care Index Fund (VHT) was down 0.8%, while the iShares US Healthcare ETF (IYH) slipped 0.2%. The iShares Biotechnology ETF (IBB) was 0.5% lower.ImmunityBio (IBRX) stock rose more than 4% premarket after the company said it signed an exclusive development and supply agreement with Japan BCG Laboratory to get exclusive rights to develop, import, and commercialize the latter's intravesical Tokyo-172 BCG in the US.FinancialThe State Street Financial Select Sector SPDR ETF (XLF) retreated by 0.3%. Direxion Daily Financial Bull 3X Shares (FAS) was down 0.8%, while its bearish counterpart, Direxion Daily Financial Bear 3X Shares (FAZ), was 0.5% higher.Mizuho Financial (MFG) shares were down more than 4% pre-bell after the company said it had not yet made a final decision on an investment in Rakuten Bank.CommoditiesFront-month US West Texas Intermediate crude oil retreated by 0.9% to $104.50 per barrel on the New York Mercantile Exchange. Natural gas was up 2.3% at $3.03 per 1 million British Thermal Units. The United States Oil Fund (USO) decreased by 0.2%, while the United States Natural Gas Fund (UNG) was 2.2% higher.Gold futures for May gained by 0.1% to reach $4,567.60 an ounce on the Comex. Silver futures fell by 0.3% to $77.31 an ounce. SPDR Gold Shares (GLD) advanced by 0.1%, and the iShares Silver Trust (SLV) increased by 0.4%.

Dow JonesNasdaq CompositeS&P 500$BETH$BITO$D$EEM$EETH$EXI$F$FAS$FAZ$GLD$IBB$IBRX$IGM$IGV$IPK$IVV$IWM$IYE$IYH$IYJ$IYK$IYW$MFG$NEE$PMR$QQQ$RAMP$RTH$RYAAY$SLV$SOXX$SPY$UNG$USO$VDC$VHT$VIS$XLE$XLF$XLI$XLK$XLP$XLV$XLY$XRT$XSD
Asia Markets

New Drone Incidents in Middle East Keep Tensions High, Nudge US Equity Futures Pre-Bell Lower

US equity futures were lower pre-bell Monday as tensions remain high in the Middle East after the UAE and Saudi Arabia reported fresh drone incidents on Sunday, raising traders' concerns around a return to hostilities in the region.Dow Jones Industrial Average futures were 0.3% lower, S&P 500 futures were down 0.2%, and Nasdaq futures were 0.1% lower.The UAE defense ministry said that a drone attack from the "western border" had caused a fire at a nuclear plant, while Saudi Arabia reported intercepting three drones that entered from the airspace of Iraq.President Donald Trump in a post on Truth Social urged Iran to "get moving" with regard to ending the conflict. "For Iran, the Clock is Ticking, and they better get moving, FAST, or there won't be anything left of them," he said.Among the companies reporting financial results this week are Home Depot (HD), Nvidia (NVDA), Analog Devices (ADI), and Walmart (WMT).Oil prices were lower, with front-month global benchmark North Sea Brent crude down 0.7% at $108.66 per barrel and US West Texas Intermediate crude 0.8% lower at $100.25 per barrel.The May US housing market index, slated for 10 am ET, is seen coming in at 34, unchanged from the prior month, according to estimates compiled by Bloomberg.Cheryl Venable, interim president of the Federal Reserve Bank of Atlanta, is slated to speak on Monday.In other world markets, Japan's Nikkei closed 1% lower, Hong Kong's Hang Seng ended 1.1% lower, and China's Shanghai Composite finished 0.1% lower. Meanwhile, the UK's FTSE 100 was up 0.5%, and Germany's DAX index was 0.8% higher in Europe's early afternoon session.In equities, Dominion Energy (D) shares jumped 15% after the company and NextEra Energy (NEE) said they agreed to combine in an all-stock deal. ServiceNow (NOW) stock was up 5.1% after the company and Experian said they launched a multiyear partnership on autonomous AI agents across various platforms. Baidu (BIDU) shares were up 4.2% after the company posted Q1 non-GAAP earnings and revenue that surpassed analysts' consensus.On the losing side, Tesla (TSLA) stock was down 0.9% after the company reportedly raised prices for several Tesla Model Y variants in the US, media outlets reported Saturday. Regeneron Pharmaceuticals (REGN) shares were 12% lower after the company said its phase 3 skin cancer trial evaluating two dose levels of fianlimab in combination with cemiplimab failed to meet a primary endpoint. NextEra Energy stock was down 1.3% after the merger with Dominion Energy was announced.

Dow JonesNasdaq CompositeS&P 500$ADI$BIDU$D$HD$NEE$NOW$NVDA$REGN$TSLA$WMT
Japan

New Drone Incidents in Middle East Keep Tensions High, Drag US Equity Futures Pre-Bell

US equity futures were lower pre-bell Monday as tensions remain high in the Middle East after the UAE and Saudi Arabia reported fresh drone incidents on Sunday, raising traders' concerns around a return to hostilities in the region.Dow Jones Industrial Average futures were 0.7% lower, S&P 500 futures were down 0.4%, and Nasdaq futures were 0.4% lower.The UAE defense ministry said that a drone attack from the "western border" had caused a fire at a nuclear plant, while Saudi Arabia reported intercepting three drones that entered from the airspace of Iraq.President Donald Trump in a post on Truth Social urged Iran to "get moving" with regard to ending the conflict. "For Iran, the Clock is Ticking, and they better get moving, FAST, or there won't be anything left of them," he said.Among the companies reporting financial results this week are Home Depot (HD), Nvidia (NVDA), Analog Devices (ADI), and Walmart (WMT).Oil prices were lower, with front-month global benchmark North Sea Brent crude down 0.2% at $109.12 per barrel and US West Texas Intermediate crude 0.3% lower at $100.77 per barrel.The May US housing market index, slated for 10 am ET, is seen coming in at 34, unchanged from the prior month, according to estimates compiled by Bloomberg.Cheryl Venable, interim president of the Federal Reserve Bank of Atlanta, is slated to speak on Monday.

Dow JonesNasdaq CompositeS&P 500$ADI$HD$NVDA$WMT
Stocks Fall Pre-Bell as Traders Monitor US-Iran Tensions, Await Nvidia Earnings
US Markets

Stocks Fall Pre-Bell as Traders Monitor US-Iran Tensions, Await Nvidia Earnings

The benchmark US stock measures were tracking in the red before the opening bell Monday as investors monitor the ongoing US-Iran tensions and await the latest financial results of tech bellwether Nvidia (NVDA) later in the week.The S&P 500 declined 1.3%, the Dow Jones Industrial Average dropped 0.6% and the Nasdaq was off 0.1% in premarket activity. The indexes finished Friday trading lower.Tensions between the US and Iran remain in focus amid no apparent progress toward a peace deal between the two sides. President Donald Trump said in a social media post on Sunday that the "clock is ticking" for Iran to agree to a deal and that "they better get moving, fast, or there won't be anything left of them."Iran's semi-official Fars news agency said the US has set five main conditions for a peace deal, including transferring uranium tied to Tehran's nuclear program to Washington, Bloomberg News reported. Iran's Mehr news agency reportedly said the US has offered "no tangible concessions" to Tehran.A drone attack caused a fire at a nuclear power plant in the United Arab Emirates on Sunday, while Saudi Arabia said it intercepted three drones that entered from Iraqi airspace, according to CNBC.West Texas Intermediate crude oil rose 0.8% to $106.27 a barrel before the open, while Brent was up 0.7% to $110.08.Nvidia is scheduled to release its latest quarterly results after the markets close on Wednesday. "We fully expect the leading supplier of AI silicon will again exceed estimates and guide above Street given continued positive data points through (the calendar first quarter)," Wedbush Securities said in a Monday client note.Retail giants Walmart (WMT), Home Depot (HD), TJX (TJX), Lowe's (LOW) and Target (TGT) are also expected to announce their earnings this week.Treasury yields were trending higher in premarket action, with the two-year rate increasing 0.4 basis points to 4.09% and the 10-year rate adding 0.8 basis points to 4.6%.Monday's thin economic calendar has the housing market index for May at 10 am ET. Federal Reserve Bank of Atlanta interim President Cheryl Venable is slated to speak at 8:30 am.Shares of LiveRamp (RAMP) jumped 27% pre-bell after the data collaboration platform agreed to be acquired by French advertising and public relations firm Publicis Groupe in an all-cash deal with an enterprise value of about $2.17 billion. ServiceNow (NOW) was up nearly 3% while UnitedHealth (UNH) fell 4.9%.Gold slipped 0.4% to $4,544 per troy ounce, while bitcoin fell 2% to $76,723.

Dow JonesNasdaq CompositeS&P 500$HD$LOW$NOW$NVDA$RAMP$TGT$TJX$UNH$WMT
International

Oil Outlook Darkens Wall Street Pre-Bell; Asia, Europe Off

Wall Street futures pointed moderately lower pre-bell Monday as traders assessed the still-closed Strait of Hormuz, and media reports of possible renewed military actions by the US against Tehran.In the futures, the S&P 500 fell 0.4%, the Nasdaq declined 0.3%, and the Dow Jones was off 0.6%.West Texas Intermediate crude oil traded up 1.4% at $102.45 a barrel, while 10-year US Treasuries offered 4.61%, the highest yield since early 2024.On the earnings scene, AI-chip colossus Nvidia (NVDA) reports on Wednesday this week.Other blue chips, including Walmart (WMT), Home Depot (HD), TJX (TJX), Lowe's (LOW), Target (TGT), Ross Stores (ROST), Analog Devices (ADI), Intuit (INTU), and Deere (DE), also report later this week.Investors additionally await the release on Wednesday of minutes of the Federal Reserve's latest policy session, and then the Thursday flash report from S&P Global on the US purchasing managers index (PMI) for May.Asian exchanges traded mostly lower overnight on higher crude prices and a slate of soft economic releases from Beijing. European bourses tracked moderately south midday on the continent.Dominion Energy (D) shares traded up 14.3% pre-bell after media reports of a possible buyout of the power and gas utility by NextEra Energy (NEE), an electrical utility.On the economic calendar is the NAHB housing market index for May at 10 am.Cheryl Venable, acting President of the Federal Reserve Bank of Atlanta, is slated to speak on Monday.In pre-market action, Bitcoin traded at $76,802, and spot gold commanded $4,536 an ounce.

Dow JonesNasdaq CompositeS&P 500
Asia Markets

US Equity Investors to Stay Glued to Treasury Yields as Crude Oil Gains Likely to Make Inflation Worse

US equity investors will remain focused on President Donald Trump's attempts to force Iran to reopen the Strait of Hormuz as the 30-year Treasury yield traded at a 28-year high amid inflation concerns and Nvidia's (NVDA) quarterly results.* Oil prices extended gains on Monday as efforts to end the Iran war appeared to have stalled, a nuclear power plant in the United Arab Emirates came under attack, just as US President Donald Trump is expected to discuss military options to tackle Tehran, Reuters reported.* "For Iran, the Clock is Ticking, and they better get moving, FAST, or there won't be anything left of them," Trump said in a social media post.* The 30-year yield at 5.13% early Monday is trading at its highest since 2007 amid concern that higher crude oil prices, a supply-side shock, will severely limit the Federal Reserve's ability to control inflation.* The probability of a 25 basis-point increase in US interest rates in December was at 40% early on Monday from 22% a week ago and almost 1% a month ago, according to the CME FedWatch tool. The comparisons for September and October show a similar jump in rate-increase probabilities.* Meanwhile, about 20 S&P 500 firms will report this week, including many of the large retailers and the index's biggest constituent, Nvidia, according to a D A Davidson note late Friday. S&P 500 earnings have soared by more than 25% year-over-year, versus almost 13% set out as of March 31, based on over quarterly results from 91% firms that have reported. Companies from other equity indexes will also be releasing their results this week.* Wednesday's Federal Open Market Committee April meeting minutes may add more insight into the divisions between hawks, neutral voices, and doves, according to a Scotiabank note late Friday. Four of the 17 FOMC members and three of the voting FOMC members opposed language in the May statement that left the door open to a possible easing bias, but "Will others be revealed?," the note said.

Dow JonesNasdaq CompositeS&P 500$NVDA
Nasdaq, S&P 500 Retreat From Record Highs as Yields Surge Amid Inflation Woes
US Markets

Nasdaq, S&P 500 Retreat From Record Highs as Yields Surge Amid Inflation Woes

The Nasdaq Composite and the S&P 500 fell from record highs as inflation concerns pushed Treasury yields higher.The Nasdaq tumbled 1.5% to 26,225.1, while the S&P 500 dropped 1.2% to 7,408.5. The Dow Jones Industrial Average lost 1.1% to 49,526.2. Barring energy, all sectors ended in the red, led by materials' 2.7% slump.The S&P 500 advanced 0.1% this week, marking its seventh consecutive weekly advance. The Nasdaq logged a weekly loss of 0.1% after a streak of six weekly gains. The Dow recorded a weekly loss of 0.2%.US Treasury yields surged, with the 10-year rate last up 14 basis points at 4.60% and the two-year rate rising 8.7 basis points to 4.08%.The headline consumer price index is expected to average 6% in the second quarter, according to a poll of economists by the Federal Reserve Bank of Philadelphia. That's well above the 2.7% rate pegged in the previous survey, which was published in March.Earlier this week, official data showed that consumer inflation accelerated to 3.8% year over year in April, the highest print since May 2023. Energy prices rose nearly 18%, the highest since September 2022.West Texas Intermediate crude was last up 4.7% at $105.89 a barrel, while Brent climbed 3.6% to $109.57.Talks between US President Donald Trump and his Chinese counterpart, Xi Jinping, this week failed to improve the prospects of a US-Iran peace deal.RBC Capital Markets sees no imminent diplomatic breakthrough."There seems to be an emerging consensus that the Strait of Hormuz will reopen in June because the cost of continued closure will be too high," RBC said in a note emailed Friday. "We are very skeptical of a June grand reopening."In economic news, US industrial production rebounded more than projected in April, buoyed by the manufacturing and utilities categories, Federal Reserve data showed."Besides supportive fiscal policy, the (artificial intelligence) buildout will continue to lift production of computers and electronics, while an inventory restocking cycle will support new orders growth for factories," Oxford Economics said in a note.New York manufacturing activity grew at the fastest pace in more than four years this month amid robust new orders, the New York Fed reported.Gold was last down 3.1% at $4,540.30 per troy ounce, while silver slid nearly 11% to $76.21 per ounce.

Dow JonesNasdaq CompositeS&P 500
Asia Markets

US Equity Indexes Drop as Uncertainty Over Hormuz Reopening Timeline Boosts Treasury Yields

US equity indexes slumped as continuing uncertainty over the reopening timeline for the Strait of Hormuz following the China summit spooked investors, sending government bond yields and crude oil futures sharply higher.The Nasdaq Composite dropped 1.4% to 26,225.14, with the S&P 500 down 1.2% to 7,408.5 and the Dow Jones Industrial Average seen lower by 1% to 49,526.1 at the close on Friday.A summit between US President Donald Trump and his Chinese counterpart, Xi Jinping, ended with mixed messages over the reopening of Hormuz, the Wall Street Journal reported. The waterway is the choke point to about a fifth of global crude oil flows, and the impact of its full or partial closure was evident in consumer and wholesale price inflation."The market could be pinning too much hope on the US-China talks yielding some positive results on Iran," ING Bank said in a note. "Some hope that China could exert pressure on Iran to reach a deal with the US, to end the war, and lead to a resumption of energy flows through the Strait of Hormuz."A lack of trust is the biggest obstacle in negotiations to end the war with the US, and Tehran would be open to diplomatic help, particularly from China, to help ease tensions, Iran's foreign minister, Abbas Araghchi, was cited as saying in an Associated Press report. Contradictory messages have "made us reluctant about the real intentions of Americans," he added.Expectations that Hormuz will quickly return to normal maritime traffic levels in June are based on "magical thinking" and underestimate the political and operational barriers to restoring flows, RBC Capital Markets strategists said in a note. The analysts said that oil market disruptions could persist well into the summer demand season.US Treasury yields surged, with the 10-year up 13.8 basis points to 4.60%, the highest in about a year. The two-year advanced 8.9 basis points to 4.08%, the strongest level since February 2025.West Texas Intermediate crude oil futures surged 4.5% to $105.73, and Brent crude futures jumped 3.5% to $109.44.In precious metals, gold futures dropped 3.1% to $4,540.9, and silver futures sank 11% to $76.28 as the impact of higher crude prices has begun to show up in the inflation data. The probability of a 25 basis-point increase in interest rates in December surged to 39% on Friday from 14% a week ago, according to the CME FedWatch tool late Friday. The comparisons for September were 17% from 12%, and, for October, the data showed 27% versus 22%.In economic news, industrial production rebounded by 0.7% in April, above expectations for a 0.3% increase in a Bloomberg-compiled survey, and following an upwardly revised 0.3% decline in March.In company news, DexCom (DXCM) said Friday it has set new long-term financial goals, including organic revenue growth of more than 10% a year through 2030. Shares jumped 6.6%, the top gainer on the S&P 500 and the Nasdaq.

Dow JonesNasdaq CompositeS&P 500$DXCM
Equities

S&P 500 Ekes Out Seventh Consecutive Weekly Gain as Energy Leads

The Standard & Poor's 500 index edged up 0.1% this week, its seventh consecutive weekly gain, as a strong advance in energy stocks helped outweigh declines in other sectors.The S&P 500 ended the week at 7,408.50, up slightly on the week but down from the new closing high it reached Thursday at 7,501.24. The market benchmark also hit a new intraday high on Thursday at 7,517.12.The seven-week win streak is the index's longest since a nine-week run that ended in December 2023. The S&P 500 is now up 2.8% for the month and has climbed 8.2% in 2026.The week's advance was driven by gains in only four of the S&P 500's 11 sectors, led by energy amid surging oil prices on the back of renewed Middle East worries. Consumer staples, technology and health care also rose this week.Declines across the remaining seven sectors came amid inflation concerns.US annual consumer inflation accelerated in April to the fastest pace in almost three years as energy prices surged amid the near-complete closure of the Strait of Hormuz, data released this week showed. Another report showed US producer prices in April rose at the fastest pace in four years as broad-based increases in services and goods signaled intensifying inflation pressures.The energy sector jumped 6.8%, followed by gains of at least 1% each in consumer staples, technology and health care.Occidental Petroleum (OXY) and Targa Resources (TRGP) had the largest percentage gains in the energy sector for the week, rising 12% and 9.6%, respectively.The climb in consumer staples was led by shares of tobacco companies Philip Morris International (PM) and Altria Group (MO), which added 11% and 7.3%, respectively.The technology sector's gain came amid enthusiasm for artificial intelligence as Cisco Systems (CSCO) reported higher-than-expected quarterly results, boosted by strong demand for its AI infrastructure. Cisco's shares jumped 22% as the company reported fiscal Q3 earnings and sales above market expectations and raised its full-year guidance.On the downside, consumer discretionary fell 3.1%, followed by a 2.6% drop in real estate, a 2.3% loss in materials, and a 2.1% decline in utilities. Industrials fell 1.1% while communication services and financials also edged lower.Norwegian Cruise Line Holdings (NCLH) was among the hardest-hit stocks in consumer discretionary. The cruise operator's shares fell 9.1% as TD Cowen cut its price target on the stock to $22 each from $27. The firm kept its investment rating on the shares at buy.Next week, a number of retailers will report quarterly earnings, including Walmart (WMT), Target (TGT), Home Depot (HD), Lowe's (LOW), TJX (TJX), and BJ's Wholesale Club (BJ). Other companies on the week's earnings calendar include NVIDIA (NVDA), Analog Devices (ADI), Intuit (INTU) and Deere (DE).Economic data will include April pending home sales, housing starts and building permits, as well as a final reading on May consumer sentiment.

Dow JonesNasdaq CompositeS&P 500$CSCO$MO$NCLH$OXY$PM$TRGP
Japan

US Equity Markets End Lower as Rising Oil, Bond Yields Stoke Inflation Concerns

US equity indexes ended lower on Friday as crude oil prices and government bond yields rose, triggering increasing concerns that rising energy costs will spur inflation.* The US war with Iran is nearing its 11th week, and the Strait of Hormuz remains closed to oil tankers.* Industrial production rebounded by 0.7% in April, above expectations for a 0.3% increase in a Bloomberg survey and following an upwardly revised 0.3% decline in March.* June West Texas Intermediate crude oil rose $4.29 to settle at $105.46 per barrel, while July Brent crude, the global benchmark, was last seen up $3.55 at $109.28.* Nvidia (NVDA), Advanced Micro Devices (AMD), Arm Holdings (ARM) and Intel (INTC) shares declined, while ASML Holding (ASML) and STMicroelectronics (STM) also fell after a US-China summit ended without major semiconductor agreements.* DexCom (DXCM) shares rose 6.6%, the top gainer on the S&P 500, after the company set new long-term financial goals, including organic revenue growth of more than 10% a year through 2030.

Dow JonesNasdaq CompositeS&P 500$AMD$ASML$DXCM$INTC$NVDA$STM
Asia Markets

US Equity Indexes Mixed This Week as Hormuz Reopening Timeline Uncertainty Boosts Inflation Concerns

US equity indexes traded mixed this week as concerns over the reopening timeline for the Strait of Hormuz boosted crude oil and heightened inflationary concerns, undermining investor sentiment from the tech trade.* The S&P 500 closed at 7,408.50 on Friday versus 7,398.93 a week ago. The Nasdaq Composite stood at about 26,225.15, compared with 26,247.08 a week earlier. The Dow Jones Industrial Average ended at 49,526.17, versus 49,609.16 at the end of last week.* Energy, consumer defensive, and technology led the gainers this week.* "The market could be pinning too much hope on the US-China talks yielding some positive results on Iran," ING Bank said in a note. "Some hope that China could exert pressure on Iran to reach a deal with the US, to end the war, and lead to a resumption of energy flows through the Strait of Hormuz."* Expectations that Hormuz will quickly return to normal maritime traffic levels in June are based on "magical thinking" and underestimate the political and operational barriers to restoring flows, RBC Capital Markets strategists said in a note.* Consumer and wholesale price inflation data were hotter than expected this week, complicating the path for interest rate cuts.* Lower monthly inflation prints after the oil shock fades, and a labor market softening, will likely be needed for Fed rate cuts this year, Goldman Sachs said in a note. It expects energy cost passthrough likely to keep core personal consumption expenditures inflation closer to 3% than 2% all year.* On Friday, US Treasury yields surged, with the 10-year up 14.2 basis points to 4.6%, the highest in about a year. The two-year soared 8.7 basis points to 4.08%, the strongest level since February 2025.* The probability of a 25 basis-point increase in interest rates in December surged to 39% on Friday from 14% a week ago, according to the CME FedWatch tool. The comparisons for September were 17% from 12%, and, for October, the data showed 27% versus 22%.

Dow JonesNasdaq CompositeS&P 500
Japan

US Equity Indexes Slide as Concerns Mount Over Hormuz Reopening Timeline

US equity indexes fell amid a surge in government bond yields and crude oil futures ahead of Friday's close as concern mounted over the timeline for the reopening of the Strait of Hormuz.The Nasdaq Composite dropped 1.3% to 26,286.8, with the S&P 500 down 1.1% to 7,422.4 and the Dow Jones Industrial Average lower by 1% to 49,578.4.A summit between US President Donald Trump and his Chinese counterpart, Xi Jinping, ended with mixed messages over the reopening of Hormuz, the Wall Street Journal reported. The waterway is the chokepoint to about a fifth of global crude oil flows, and the impact of its full or partial closure was evident in consumer and wholesale price inflation."The market could be pinning too much hope on the US-China talks yielding some positive results on Iran," ING Bank said in a note. "Some hope that China could exert pressure on Iran to reach a deal with the US, to end the war, and lead to a resumption of energy flows through the Strait of Hormuz."Expectations that Hormuz will quickly return to normal maritime traffic levels in June are based on "magical thinking" and underestimate the political and operational barriers to restoring flows, RBC Capital Markets strategists said in a note.US Treasury yields surged, with the 10-year up 13.8 basis points to 4.60%, the highest in about a year. The two-year advanced 8.9 basis points to 4.08%, the strongest level since February 2025.West Texas Intermediate crude oil futures surged 4.2% to $105.43, and Brent crude futures jumped 3.4% to $109.34.

Dow JonesNasdaq CompositeS&P 500
Equities Fall, Yields Surge Intraday Amid Inflation Concerns; Oil Jumps
US Markets

Equities Fall, Yields Surge Intraday Amid Inflation Concerns; Oil Jumps

US benchmark equity indexes were lower intraday as Treasury yields jumped amid inflation concerns, while oil prices moved higher on the back of renewed Middle East worries.The Nasdaq Composite and the Dow Jones Industrial Average were down 0.8% each at 26,412.7 and 49,658.24, respectively, after midday Friday. The S&P 500 fell 0.7% to 7,448.3. The Nasdaq and S&P 500 hit fresh record highs in the previous session.Barring energy, all sectors were in the red intraday Friday, led by materials' 2.5% drop.US Treasury yields surged, with the 10-year rate up 13.2 basis points at 4.59% and the two-year rate rising 8.7 basis points to 4.08%."The sustained back-up in long-term yields has finally broken the preternatural serenity in equities, which saw the S&P 500 crack the 7,500 level for the first time on Thursday," BMO said in a report Friday. "A series of increasingly problematic US inflation readings for April was capped by a late-week run-up in oil prices to nearly $105, and aggravated by mounting fiscal concerns in some major economies."Recently, official data showed that US producer prices in April rose at the fastest pace in four years, while annual consumer inflation accelerated to the fastest pace in almost three years.West Texas Intermediate crude was up 4.2% at $105.37 a barrel intraday, while Brent climbed 3.4% to $109.28.US President Donald Trump said he is losing patience with Iran, CNBC reported, citing Trump's interview to Fox News that aired late Thursday. "They should make a deal," he said, according to the report.Trump reportedly concluded his two-day visit to Beijing Friday after holding policy discussions with his Chinese counterpart, Xi Jinping, on trade, tariffs and technology, among other matters. In a pre-recorded interview with Fox News, Trump reportedly said China has agreed to purchase oil from the US.Beijing hasn't confirmed the energy purchases, according to the report.Trump said he is considering lifting sanctions on Chinese firms buying Iranian oil, CNN reported. "I'm going to make a decision over the next few days. We did talk about that," he reportedly said.In company news, Bill Ackman said his Pershing Square hedge fund has established a new position in Microsoft (MSFT), noting that the technology giant's stock "offers analogous and compelling long-term value at today's valuation."The billionaire investor has sold his long-owned investment in Alphabet (GOOG, GOOGL), Reuters reported.Microsoft shares were up 4.4% intraday, the second-biggest gainer on the Dow. Alphabet's class A and C shares fell 0.9% each.In economic news, US industrial production rebounded more than projected in April, buoyed the manufacturing and utilities categories, Federal Reserve data showed."The winners and losers in the latest report are likely to persist over the balance of 2026," Oxford Economics said in a note. "Besides supportive fiscal policy, the (artificial intelligence) buildout will continue to lift production of computers and electronics, while an inventory restocking cycle will support new orders growth for factories."New York manufacturing activity grew at the fastest pace in more than four years this month amid robust new orders, the New York Fed reported.Gold was down 2.6% at $4,564.80 per troy ounce, while silver slid 9.1% to $77.58 per ounce.

Dow JonesNasdaq CompositeS&P 500$GOOG$GOOGL$MSFT
Asia Markets

US Equity Indexes Fall as Treasury Yields, Crude Oil Soar Amid Mounting Concern Over Hormuz Unlocking

US equity indexes fell amid a surge in government bond yields and crude oil futures in midday trading on Friday as investors weighed the probability of the Strait of Hormuz reopening in the near term.The Nasdaq Composite fell 1.1% to 26,340.3, while the S&P 500 was down 0.9% to 7,433.7 and the Dow Jones Industrial Average was lower by 0.8% to 49,646.5.All sectors except energy fell. Materials, industrials, utilities, and consumer discretionary led the decliners.A summit between US President Donald Trump and his Chinese counterpart, Xi Jinping, ended with mixed messages, the Wall Street Journal reported. Trump reportedly told Fox News the United States does not need to see the Strait of Hormuz reopen, then told reporters both he and Xi want to see the Iran war end, while also saying Hormuz needs to reopen as soon as possible."The market could be pinning too much hope on the US-China talks yielding some positive results on Iran," ING Bank said in a note. "Some hope that China could exert pressure on Iran to reach a deal with the US, to end the war, and lead to a resumption of energy flows through the Strait of Hormuz."A lack of trust is the biggest obstacle in negotiations to end the war with the US, and Tehran would be open to diplomatic help, particularly from China, to help ease tensions, Iran's foreign minister, Abbas Araghchi, was cited as saying in an Associated Press report. Contradictory messages have "made us reluctant about the real intentions of Americans," he added.Trump said his patience with Iran was running out and that Chinese President Xi Jinping had agreed that Tehran must reopen Hormuz, but China gave no indication it would weigh in, Reuters reported.Expectations that Hormuz will quickly return to normal maritime traffic levels in June are based on "magical thinking" and underestimate the political and operational barriers to restoring flows, RBC Capital Markets strategists said in a note.US Treasury yields surged, with the 10-year up 13 basis points to 4.59%, the highest in about a year. The two-year advanced 9.2 basis points to 4.08%, the strongest level since February 2025.West Texas Intermediate crude oil futures surged 3.8% to $105.02, and Brent crude futures jumped 3.3% to $109.16.In precious metals, gold futures dropped 3% to $4,543.4, and silver futures sank 10% to $76.63.In economic news, industrial production rebounded by 0.7% in April, above expectations for a 0.3% increase in a Bloomberg-compiled survey, and following an upwardly revised 0.3% decline in March.In company news, DexCom (DXCM) said Friday it has set new long-term financial goals, including organic revenue growth of more than 10% a year through 2030. Shares jumped 7.3%, the top gainer on the S&P 500 and the Nasdaq.

Dow JonesNasdaq CompositeS&P 500$DXCM

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