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15 stories mentioning VZUpdated 35d ago

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Wire

Verizon Wireless Obtains Approval From FCC for Array Digital's Spectrum Licenses

Verizon Communications (VZ) and Array Digital Infrastructure (AD) have obtained approval from the US Federal Communications Commission to assign several cellular, AWS-1, AWS-3, and PCS licenses from Array subsidiaries to Verizon Wireless, the commission said in a memorandum Thursday.The Verizon Communications subsidiary is targeting to acquire zero to 25 megahertz of cellular spectrum, zero to 20 megahertz of AWS-1 spectrum, zero to 10 megahertz of AWS-3 spectrum, and zero to 20 megahertz of PCS spectrum in 618 counties across 19 states, covering roughly 8% of the US population, according to the memorandum.The risk of public interest harm due to the applications is low, the commission said, adding that the transaction "is likely to produce public interest benefits that will enable Verizon Wireless to provide a better overall experience to its customers."Price: $47.13, Change: $-0.08, Percent Change: -0.17%

$AD$VZ
Wire

Verizon Launches Cash Tender, Private Exchange Offers for Outstanding Debt

Verizon Communications (VZ) said Monday it started cash tender and private exchange offers for multiple series of outstanding notes.The telecom provider is proposing to buy back any amount of specific debt securities alongside up to $1.25 billion of targeted "Waterfall" notes, the company said.A concurrent exchange program permits qualified institutional buyers and international investors to trade 11 series of older unit debt for newly issued corporate notes, Verizon said.Investors must submit their notes by June 1 to qualify for early participation benefits, while the overall transactions are scheduled to expire on June 16, the company said.Price: $47.65, Change: $+0.43, Percent Change: +0.90%

$VZ
Equities

S&P 500 Marks Fifth Weekly Gain, Reaches New Records on Earnings Strength

The Standard & Poor's 500 index rose 0.9% this week to another closing record high as the communication services sector led a broad climb amid better-than-expected earnings.The S&P 500 ended Friday's session at 7,230.12 and reached a fresh intraday high of 7,272.52.This marks the fifth consecutive weekly gain. On Thursday, the benchmark closed out April with a 10% jump that represented its largest monthly increase since November 2020. The index, which fell 5.1% in March, is now up 5.6% for 2026.Large companies including Amazon.com (AMZN), Google parent Alphabet (GOOGL), Microsoft (MSFT) and Exxon Mobil (XOM) reported stronger-than-expected quarterly results.The communication services sector had the largest percentage increase of the week, climbing 4.5%, followed by a 3.2% rise in energy, a 1.1% gain in consumer staples and a 1% advance in real estate. Financials, utilities, health care, consumer discretionary, industrials and technology also edged higher.Alphabet led the climb in communication services, with its shares jumping 12% on the week. Q1 results exceeded Wall Street's estimates as revenue for Google's cloud and services businesses climbed.Verizon Communications (VZ) also boosted the communication services sector. The shares rose 3.7% as the company raised its full-year earnings outlook and reported a Q1 profit above market estimates.The energy sector's advance came as crude oil futures remained elevated, with no end in sight for the U.S.-Iran conflict.Phillips 66 (PSX) rose 8.2% as the company swung to a Q1 adjusted profit per share after analysts had forecast a loss.Materials, the only sector that fell this week, shed 2%.Newmont (NEM) had the largest weekly loss in the materials sector with the shares down 10% even as Q1 adjusted earnings per share and revenue topped Wall Street estimates. The company said it is on track to achieve its 2026 production outlook of 5.3 million attributable gold ounces.Next week's earnings calendar features Advanced Micro Devices (AMD), Walt Disney (DIS), McDonald's (MCD), Arista Networks (ANET) and Palantir Technologies (PLTR).The focal point of the economic data calendar will be the government's release of monthly jobs data on Friday. Other data due next week include new home sales and construction spending for February and March, as well as the first reading of consumer sentiment for May.

Dow JonesNasdaq CompositeS&P 500$GOOGL$NEM$PSX$VZ
Wire

Bernstein Adjusts Verizon Communications Price Target to $49 From $48, Maintains Market Perform Rating

Verizon Communications (VZ) has an average rating of overweight and mean price target of $51.81, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www..com/contact-us)Price: $47.52, Change: $+0.43, Percent Change: +0.91%

$VZ
Research

Research Alert: CFRA Raises Opinion On Shares Of Verizon Communications To Hold From Sell

CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:We increase our 12-month target price by $10 to $50, applying an EV/EBITDA multiple of 7.4x to our 2026 estimate, comparable to the peer average. We raise our 2026 EPS estimate by $0.03 to $4.93 and increase 2027's by $0.08 to $5.25. VZ's turnaround program is progressing and gaining momentum, powered by a comprehensive transformation program reshaping operations and customer service. The transformation is credited with delivering a strong quarter across core operating metrics, translating performance into solid operational and financial outcomes not seen in over a decade. This feat is impressive given this is Dan Schulman's first full quarter as CEO. As a result of turnaround progress, Verizon raised its guidance for adjusted EPS growth and postpaid phone net adds for 2026. We note that there are still some areas that need to be worked on. Consumer postpaid phone net losses were 35k, despite overall positive net adds, indicating ongoing challenges in the consumer segment.

$VZ
US Markets

Nasdaq, S&P 500 Reach New Peaks; Oil Rises

The Nasdaq Composite and the S&P 500 notched fresh record closing highs on Monday even as oil prices moved higher amid stalled peace talks between the US and Iran.The Nasdaq edged up 0.2% to 24,887.1, while the S&P 500 gained 0.1% to 7,173.9, recording their highest finish ever for a second consecutive session. The Dow Jones Industrial Average fell 0.1% to 49,167.8. Most sectors were in the red, led by consumer staples, while communication services paced the gainers.Brent crude was last up 2.5% at $107.95 per barrel, while West Texas Intermediate crude rose 1.8% to $96.08.Iran's Foreign Minister Seyed Abbas Araghchi visited Pakistan twice over the weekend, while President Donald Trump called off US officials' previously announced trip to Islamabad.Iran has submitted a new proposal to reopen the Strait of Hormuz that includes delaying nuclear negotiations, Axios reported, citing a US official and two other sources."The lack of progress (in peace talks) means the market is tightening every day, requiring oil prices to reprice at higher levels," ING Bank said in a note on Monday.Trump was scheduled to meet with top national security officials on Monday to discuss the new Iranian proposal, CNN reported."US stocks enter April's final week with cautiously optimistic momentum, driven by (artificial intelligence) earnings beats and resilient macro prints," Ivan Feinseth, chief market strategist of Tigress Financial Intelligence, said in a report e-mailed to. "However, heightened volatility looms ahead of the conclusion of the (Federal Open Market Committee) meeting on Wednesday, with expectations that the Fed will keep rates unchanged at (3.50% to 3.75%)."With the FOMC decision unlikely to surprise, the market is expected to focus on the policy statement and post-meeting remarks of Chair Jerome Powell, said David Doyle, head of economics at Macquarie Group."Given that elevated oil prices have persisted for nearly two months now, future guidance may shift somewhat," he said in a report e-mailed to. "This would be in contrast to March where there were limited changes made. Our view remains that the next policy move is likely to be a hike with the most likely timing in (the first half of 2027)."US Treasury yields were higher, with the 10-year rate up 3.1 basis points at 4.34% and the two-year rate rising 1.5 basis points to 3.81%.S&P 500 companies' quarterly earnings growth decelerated compared with figures from a week ago, but remained well ahead of expectations, Oppenheimer Asset Management's data showed Monday."The quarter appears to be off to a strong start," Oppenheimer Asset Management Chief Investment Strategist John Stoltzfus said, noting that earnings growth reported by 79% of the firms that have released their quarterly results exceeded analyst estimates.Technology giants Alphabet (GOOG, GOOGL), Apple (AAPL), Microsoft (MSFT), Amazon (AMZN) and Meta Platforms (META) are slated to release their latest financial results later this week.In company-specific news, Verizon Communications (VZ) lifted its full-year earnings outlook on Monday and reported a first-quarter bottom line above market estimates, while the telecommunications giant unexpectedly added postpaid phone subscribers in the three-month period. The company's shares rose 1.6%, the second-biggest gain on the Dow.Shares of Domino's Pizza (DPZ) tumbled 8.8%, the steepest decline on the S&P 500. The company reported weaker-than-expected first-quarter results on Monday, with the company's chief executive saying consumer uncertainty and inflation weighed on demand late in the quarter.Organon (OGN) shares surged nearly 17% after the healthcare company agreed to be acquired by Indian pharmaceutical firm Sun Pharmaceutical Industries in an all-cash deal with an enterprise value of about $11.75 billion.Gold was last down 1% at $4,694.80 per troy ounce, while silver shed 1.2% to $75.47 per ounce.

Dow JonesNasdaq CompositeS&P 500$AAPL$AMZN$DPZ$GOOG$GOOGL$META$MSFT$OGN$VZ
Sectors

Sector Update: Consumer Stocks Fall Late Afternoon

Consumer stocks fell late Monday afternoon with the State Street Consumer Staples Select Sector SPDR ETF (XLP) declining 1% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) shedding 0.6%.In corporate news, United Airlines (UAL) CEO Scott Kirby confirmed he approached rival American Airlines (AAL) about a possible merger, and American declined to engage, closing the door on a deal. Separately, American is selling $1.14 billion of bonds financing a group of planes, Bloomberg reported. United shares fell 1.2%, and American dropped 3%.Domino's Pizza (DPZ) reported weaker-than-expected Q1 results on Monday, with the company's CEO saying consumer uncertainty and inflation weighed on demand late in the quarter. Its shares slumped past 9%.Verizon Communications (VZ) lifted its full-year earnings outlook on Monday and reported a Q1 bottom line above market estimates, while it unexpectedly added postpaid phone subscribers in the three-month period. Its shares rose 1.2%.Toyota Motor (TM) reported Monday total worldwide sales of 897,871 vehicles in March, down 7.3% from a year earlier. Toyota shares were fractionally higher.

$AAL$DPZ$TM$UAL$VZ
US Markets

Equities Mixed Intraday, Oil Rises Amid Stalled US-Iran Talks

US benchmark equity indexes were mixed intraday, while oil prices rose as investors wavered after peace talks between Washington and Tehran apparently stalled.The Dow Jones Industrial Average was down 0.1% at 49,161.3 after midday Monday, while the Nasdaq Composite edged up 0.1% to 24,856.1. The S&P 500 gained 0.1% to 7,169.8. Among sectors, consumer staples saw the biggest drop, while communication services paced the gainers.Brent crude was up 3.2% at $108.73 per barrel, while West Texas Intermediate crude rose 2.4% to $96.63.Iran's Foreign Minister Seyed Abbas Araghchi visited Pakistan twice over the weekend, while President Donald Trump called off US officials' previously announced trip to Islamabad.Iran has submitted a new proposal to reopen the Strait of Hormuz that includes delaying nuclear negotiations, Axios reported, citing a US official and two other sources."Brent crude trades at a three-week high as efforts to revive peace talks have stalled, with an Iranian proposal reportedly calling for nuclear negotiations to be postponed to a later stage," Saxo Bank said in a report.The strait, the world's most important chokepoint for crude flows, remains at a near-complete halt, with Iran and the US imposing their respective blockades of maritime traffic, Bloomberg News reported Sunday.Trump was scheduled to meet with top national security officials on Monday to discuss the new Iranian proposal, CNN reported."Oil is trading stronger this morning after attempts to get US-Iran peace talks back on track broke down, erasing hopes for a resumption of energy flows through the Strait of Hormuz anytime soon," ING Bank said in a note on Monday. "The lack of progress means the market is tightening every day, requiring oil prices to reprice at higher levels."US Treasury yields were higher intraday, with the 10-year rate up 3.8 basis points at 4.35% and the two-year rate rising 2.7 basis points to 3.82%.In company news, Verizon Communications (VZ) lifted its full-year earnings outlook on Monday and reported a first-quarter bottom line above market estimates, while the telecommunications giant unexpectedly added postpaid phone subscribers in the three-month period. The company's shares were up 2.6% intraday, the biggest gain on the Dow.Shares of Domino's Pizza (DPZ) were down 9.5%, the steepest decline on the S&P 500. The company reported weaker-than-expected first-quarter results on Monday, with the company's chief executive saying consumer uncertainty and inflation weighed on demand late in the quarter.Organon (OGN) shares surged 17% after the healthcare company agreed to be acquired by Indian pharmaceutical firm Sun Pharmaceutical Industries in an all-cash deal with an enterprise value of about $11.75 billion.Technology giants Alphabet (GOOG, GOOGL), Apple (AAPL), Microsoft (MSFT), Amazon (AMZN) and Meta Platforms (META) are slated to release their latest financial results later this week.Gold was down 1.1% at $4,688.80 per troy ounce, while silver shed 1.6% to $75.20 per ounce.

Dow JonesNasdaq CompositeS&P 500$AAPL$AMZN$DPZ$GOOG$GOOGL$META$MSFT$OGN$VZ
Sectors

Sector Update: Consumer Stocks Decline Monday Afternoon

Consumer stocks were lower Monday afternoon, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) decreasing 0.8% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) shedding 0.3%.In corporate news, Domino's Pizza (DPZ) reported weaker-than-expected Q1 results on Monday, with the company's CEO saying consumer uncertainty and inflation weighed on demand late in the quarter. Its shares slumped past 9%.Verizon Communications (VZ) lifted its full-year earnings outlook on Monday and reported a Q1 bottom line above market estimates, while it unexpectedly added postpaid phone subscribers in the three-month period. Its shares rose 2.5%.Toyota Motor (TM) reported Monday total worldwide sales of 897,871 vehicles in March, down 7.3% from a year earlier. Toyota shares were fractionally higher.

$DPZ$TM$VZ
Wire

Top Midday Stories: Microsoft, OpenAI Amend Agreement; Qualcomm Reportedly Collaborating With OpenAI on Smartphone AI Chip

All three major US stock indexes were down in late-morning trading Monday, as investors parse ongoing developments in peace talks between the US and Iran.Iran has offered to reopen the Strait of Hormuz in exchange for an end to the US' blockade of the country and an end to the war, media outlets reported Monday, citing officials.In company news, Microsoft (MSFT) and OpenAI said Monday they have amended their agreement so that Microsoft will no longer pay a revenue share to OpenAI, and its license will now be non-exclusive. Microsoft will remain OpenAI's primary cloud partner, and its Azure will receive the first shipments of OpenAI products, unless Microsoft cannot and chooses not to support the necessary capabilities, the companies said. Separately, industry checks indicate that OpenAI is working with Qualcomm (QCOM) and MediaTek to develop smartphone processors, a TF International Securities analyst said. Microsoft shares were down 0.7% around midday, while Qualcomm shares were down 0.2%.ARC Resources said Monday it has entered into a definitive agreement to be acquired by Shell (SHEL) in a cash-and-share deal valued at about 22 billion Canadian dollars ($16.17 billion). Under the terms of the deal, ARC shareholders will receive 0.40247 of a Shell share and CA$8.20 in cash consideration in exchange for each ARC share they own, representing a total consideration of CA$32.80 per ARC share. The deal is expected to close in H2, ARC said. Shell shares were down 1.3%.Meta Platforms' (META) $2 billion acquisition of AI startup Manus was blocked by China's National Development and Reform Commission, media outlets reported Monday, citing the Chinese regulator. Meta shares were down 0.1%.Eli Lilly (LLY) said Monday it has agreed to acquire Ajax Therapeutics for up to $2.3 billion in cash. The deal includes an upfront payment and subsequent payouts based on the achievement of certain clinical and regulatory milestones, the company said. Eli Lilly shares were down 0.5%.Verizon Communications (VZ) reported Q1 adjusted earnings Monday of $1.28 per diluted share, up from $1.19 a year earlier and above the FactSet consensus analyst estimate of $1.21. First-quarter operating revenue was $34.44 billion, up from $33.49 billion a year ago but below the FactSet consensus of $34.82 billion. For 2026, the company said it expects adjusted EPS of $4.95 to $4.99, above the FactSet consensus of $4.90. Verizon shares were up 3.6%.Price: $422.11, Change: $-2.49, Percent Change: -0.59%

$LLY$META$MSFT$QCOM$SHEL$VZ
US Markets

Verizon Raises 2026 Earnings Outlook Following Unexpected Postpaid Subscriber Additions

Verizon Communications (VZ) lifted its full-year earnings outlook on Monday and reported a first-quarter bottom line above market estimates, while the telecommunications giant unexpectedly added postpaid phone subscribers in the three-month period.The company now anticipates adjusted earnings to come in between $4.95 and $4.99 per share for 2026, up from its previous projections of $4.90 to $4.95, representing annual growth of 5% to 6%. The current consensus on FactSet is for non-GAAP EPS of $4.90. The stock was up 3.9% in the most recent premarket activity.Last week, rival AT&T (T) maintained its full-year earnings outlook and reported better-than-expected first-quarter results.For the three-month period ended March, Verizon's adjusted EPS rose to $1.28 from $1.19 the year before, topping the Street's view for $1.21. Operating revenue inclined 2.9% to $34.44 billion, but fell short of the average analyst estimate of $34.82 billion.The company added 55,000 retail postpaid phone subscribers in the quarter, compared with losses of 289,000 in the prior-year period. The average consensus among eight analysts on FactSet was for a loss of 88,100 subscribers."Our first-quarter 2026 results show that our turnaround is not only progressing, it is gaining momentum," Chief Executive Dan Schulman said in a statement. "This disciplined approach is already delivering healthier economics, lower churn, and the first positive first-quarter postpaid phone net adds we've seen in over a decade."Mobility and broadband service revenue inclined 1.6% to around $22.9 billion, including an 80-basis-point headwind to wireless service revenue growth due to an outage in January, according to the company. Service and other revenue edged up to $28.76 billion from $28.09 billion in the 2025 quarter. Broadband net additions totaled 341,000, down from 353,000 last year, according to a presentation.For 2026, retail postpaid phone net subscriber additions are now pegged to be at the top half of Verizon's previously issued guidance range of 750,000 to 1 million.The company continues to expect wireless service revenue gains to be roughly flat this year as it transitions to sustainable volume-based growth. It also reiterated its forecast of mobility and broadband service revenue growth of 2% to 3%.

$VZ
Asia Markets

US Equity Futures Fall Pre-Bell as Middle East Peace Talks Remain Stalled, Iran Reportedly Floats New Peace Offer

US equity futures were marginally lower pre-bell Monday amid reports of Iran's new proposal to reopen the Strait of Hormuz against the backdrop of stalled US-Iran negotiations.Dow Jones Industrial Average futures were 0.2% lower, S&P 500 futures were down 0.1%, and Nasdaq futures were 0.1% higher.Iran has sent the US a new proposal to reopen the Strait of Hormuz and end the conflict, with nuclear talks deferred to a later date, according to an Axios report citing a US official and two other sources.President Donald Trump cancelled the trip of US special envoy Steve Witkoff and Jared Kushner to Pakistan for negotiations with Iran, saying, "If they want to talk, all they have to do is call!" according to a post on Truth Social on Sunday.Earnings kicked off for the week, with Verizon Communications (VZ) posting higher Q1 adjusted earnings and revenue.Among the companies expected to report quarterly earnings this week are Visa (V), Alphabet (GOOG, GOOGL), Microsoft (MSFT), Amazon (AMZN), Meta Platforms (META), Apple (AAPL), and Berkshire Hathaway (BRK.A, BRK.B).Oil prices were higher, with front-month global benchmark North Sea Brent crude up 1.8% at $100.86 per barrel and US West Texas Intermediate crude 1.7% higher at $96.05 per barrel.The Dallas Federal Reserve's manufacturing reading will be released at 10:30 am ET.The policy-setting Federal Open Market Committee is scheduled to release a statement 2 pm ET on Wednesday.In other world markets, Japan's Nikkei closed 1.4% higher, Hong Kong's Hang Seng ended 0.2% lower, and China's Shanghai Composite finished 0.2% higher. Meanwhile, the UK's FTSE 100 was down 0.2%, and Germany's DAX index was 0.8% higher in Europe's early afternoon session.In equities, Qualcomm (QCOM) shares were up 9.4% after industry checks suggested that Microsoft-backed OpenAI is working with the semiconductor company and MediaTek to develop smartphone processors, according to a TF International Securities analyst. Verizon Communications stock was up 3% after the company reported its Q1 financial results.On the losing side, Domino's Pizza (DPZ) shares were down 7.4% after the company posted fiscal Q1 earnings and revenue that fell short of analysts' estimates.

Dow JonesNasdaq CompositeS&P 500$AAPL$AMZN$BRK.A$BRK.B$DPZ$GOOG$GOOGL$META$MSFT$QCOM$V$VZ
Research

Research Alert: Verizon Communications Beats Expectations In Q1, Adds 55k Postpaid Subscribers

CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:Verizon posted a breakthrough Q1 with first positive postpaid phone net additions since 2013 at 55k, representing a dramatic 344k improvement from 289k losses in Q1 2025, while adjusted EBITDA reached a record $13.4B (+6.7% Y/Y) and adjusted EPS grew 7.6% to $1.28. This milestone performance validates CEO Schulman's transformation strategy and marks a clear inflection point in competitive positioning, stemming from healthier customer economics and reduced churn. Management raised 2026 adjusted EPS guidance to $4.95-$4.99 (5%-6% growth) and expects total retail postpaid phone net additions in the upper half of 750k-1M range, about 2x-3x the 2025 result. The Frontier acquisition (closed on January 20) is expected to deliver $1B+ of run-rate operating cost synergies by 2028, double initial estimates. We believe strong operational momentum, combined with broadband growth of 341k net additions and AI-first strategy deployment, positions Verizon well for sustained market share recovery and convergence opportunities.

$VZ
Japan

US Equity Futures Mixed Pre-Bell as Middle East Peace Talks Remain Stalled, Iran Reportedly Floats New Peace Offer

US equity futures were mixed pre-bell Monday amid reports of Iran's new proposal to reopen the Strait of Hormuz against the backdrop of stalled US-Iran negotiations.Dow Jones Industrial Average futures were 0.1% lower, S&P 500 futures were flat, and Nasdaq futures were 0.2% higher.Iran has sent the US a new proposal to reopen the Strait of Hormuz and end the conflict, with nuclear talks deferred to a later date, according to an Axios report citing a US official and two other sources.President Donald Trump cancelled the trip of US special envoy Steve Witkoff and Jared Kushner to Pakistan for negotiations with Iran, saying, "If they want to talk, all they have to do is call!" according to a post on Truth Social on Sunday.Earnings kicked off for the week, with Verizon Communications (VZ) posting higher Q1 adjusted earnings and revenue.Among the companies expected to report quarterly earnings this week are Visa (V), Alphabet (GOOG, GOOGL), Microsoft (MSFT), Amazon (AMZN), Meta Platforms (META), Apple (AAPL), and Berkshire Hathaway (BRK.A, BRK.B).Oil prices were higher, with front-month global benchmark North Sea Brent crude up 1.1% at $100.19 per barrel and US West Texas Intermediate crude 0.7% higher at $95.08 per barrel.The Dallas Federal Reserve's manufacturing reading will be released at 10:30 am ET.The policy-setting Federal Open Market Committee is scheduled to release a statement 2 pm ET on Wednesday.

Dow JonesNasdaq CompositeS&P 500$AAPL$AMZN$BRK.A$BRK.B$GOOG$GOOGL$META$MSFT$V$VZ
US Markets

Stocks Mostly Down Pre-Bell as Iran Reportedly Offers New Proposal to Open Strait of Hormuz

The benchmark US stock measures were mostly tracking in the red before the opening bell Monday as traders assess media speculation about Iran's new proposal to open the Strait of Hormuz.The S&P 500 and the Dow Jones Industrial Average declined 0.1% each in premarket activity, while the Nasdaq was up 0.1%. The Nasdaq and S&P 500 finished Friday's trading session with new closing highs, while the Dow was down.Iran has sent a new proposal to the US to reopen the crucial Strait of Hormuz, the world's most important chokepoint for crude flows, Axios reported, citing a US official and two sources with knowledge of the matter. The proposal reportedly includes postponing nuclear negotiations to a later stage.Shipment traffic through the Strait of Hormuz remains at a near-complete halt with Iran and the US imposing their respective blockades of maritime traffic, Bloomberg News reported Sunday.West Texas Intermediate crude oil rose 2.1% to $96.38 a barrel before the open, while Brent gained 2.3% to $107.77.President Donald Trump cancelled plans to send his representatives to Pakistan for negotiations with Iran, saying too much time has been "wasted on traveling.""We have all the cards, they have none!" Trump said in a social media post on Saturday. "If they want to talk, all they have to do is call!!!"Iranian Foreign Minister Seyed Abbas Araghchi travelled to Islamabad over the weekend to convey Tehran's "observations" to Pakistan's high-level officials, foreign ministry spokesman Esmaeil Baqaei said in a post on X. There was no meeting planned with the US, according to Baqaei.Trump last week extended a ceasefire with Iran, but maintained the naval blockade of Iranian ports.The personal income and outlays report for March is scheduled to be released on Thursday. The report includes the personal consumption expenditure core price index, the Federal Reserve's preferred inflation metric.US consumer sentiment improved from an initial April estimate, but remained at a record low as near-term inflation expectations logged the biggest monthly increase in a year, final University of Michigan survey results showed Friday.Monday's thin economic calendar has the Dallas Fed manufacturing survey for April at 10:30 am ET.Technology giants Alphabet (GOOG, GOOGL), Apple (AAPL), Microsoft (MSFT), Amazon (AMZN) and Meta Platforms (META) are slated to release their latest financial results later this week.Verizon Communications (VZ) and Domino's Pizza (DPZ) report their earnings before the bell, while Cadence Design Systems (CDNS) announces its financial statement after the markets close.Organon (OGN) shares climbed 16% pre-bell after the healthcare firm agreed to be acquired by India's Sun Pharmaceutical Industries in an all-cash deal worth about $11.75 billion. Qualcomm (QCOM) added 13% after finishing the previous trading session up 11%, while Nvidia (NVDA) increased 1%.Treasury yields were trending upwards in premarket action, with the two-year rate inclining 1.3 basis points to 3.79% and the 10-year rate moving 0.6 basis points higher to 4.32%.Gold slipped 0.5% to $4,718 per troy ounce, while bitcoin decreased 0.6% to $77,804.

Dow JonesNasdaq CompositeS&P 500$AAPL$AMZN$CDNS$DPZ$GOOG$GOOGL$META$MSFT$NVDA$OGN$QCOM$VZ

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