4:20pm: Muted finish
US stocks finished the session with a modestly softer tone on Monday, as investors weighed renewed geopolitical uncertainty.
The Nasdaq slipped 0.3% to 24,404, while the S&P 500 eased 0.2% to 7,109. The Dow Jones Industrial Average was essentially flat, edging down just slightly to 49,443.
The pullback came as the S&P 500 and Nasdaq stepped back from record levels, with sentiment dampened by concerns that Middle East peace talks could be at risk. That added a layer of caution to an otherwise resilient market backdrop.
Still, the tone underneath wasn’t entirely defensive. Tech shares managed to stand out once again, with the sector extending its winning streak to 14 straight sessions—an unusually persistent run that helped limit broader downside pressure.
Energy was another key driver of attention. Oil prices jumped roughly 5% on the day, reversing sharply after Friday’s nearly 10% drop, as traders reacted to shifting geopolitical headlines and supply-risk concerns.
3:45pm: Proactive NA headlines
- Northstar Gold Corp. (CSE:NSG) raised additional funds through a small private placement, bringing total financing to about C$689,000 to advance its Cam Copper project in Ontario.
- Liberty Star Uranium & Metals Corp. (OTCQB:LBSR) expanded its land position by staking 13 new mineral exploration permits, increasing its total project area to roughly 45 square miles.
- Digi Power X Inc (NASDAQ:DGXX, FRA:1NQ0, NEO:DGX) signed a $19.6 million GPU rental deal with SubQ AI to supply NVIDIA Blackwell-based computing power through its NeoCloudz platform.
- Graphene Manufacturing Group Ltd (TSX-V:GMG, OTCQX:GMGMF) secured a 20-year US patent and Chinese approval for its graphene-based engine oil additive G LUBRICANT, strengthening its global IP position.
- M2i Global Inc (OTC:MTWO) partnered with Volato Group Inc and Regenerate Technology Global to develop US battery recycling facilities using hydrometallurgical processing technology.
- Standard Uranium Ltd (TSX-V:STND, OTCQB:STTDF, FRA:9SU0) completed its first drill program at the Corvo project in Saskatchewan, identifying multiple zones of anomalous radioactivity across key targets.
- Pinnacle Silver & Gold Corp (TSX-V:PINN, OTCQB:PSGCF, FRA:P9J) reported new high-grade silver, gold, lead and zinc discoveries at its Potrero project in Mexico, including assays up to 1,159 g/t silver.
- New Era Energy & Digital (NASDAQ:NUAI) appointed Andy Casazza as chief corporate officer as it expands leadership to support growth in data centers and energy assets.
2:40pm: Market movers
- Agnico Eagle Mines Ltd (TSX:AEM) is spending about $3 billion across three deals—including acquiring Rupert Resources Ltd, Aurion Resources, and a stake from B2Gold Corp—to build a gold mining hub in northern Finland.
- USA Rare Earth is buying Brazil’s Serra Verde Group in a $2.8 billion cash-and-stock deal, sending its shares higher.
- AST SpaceMobile Inc (NASDAQ:ASTS) saw its shares drop after its BlueBird 7 satellite failed to reach its intended orbit during a Blue Origin launch.
- Marvell Technology Group Ltd. (NASDAQ:MRVL) pared gains as analysts downplayed reports it had secured major AI chip work with Alphabet Inc..
- Cleveland-Cliffs Inc. (NYSE:CLF) shares fell despite an earnings beat, as investors focused on ongoing cost pressures and profitability concerns.
- Psychedelics-related stocks rallied after Donald Trump signed an executive order to accelerate research and regulatory review of psychedelic therapies for mental health conditions.
- Digi Power X Inc (NASDAQ:DGXX, FRA:1NQ0, NEO:DGX) signed a $19.6 million, 24-month GPU rental deal with SubQ AI to supply NVIDIA Blackwell-powered systems via its NeoCloudz platform.
1:05pm: Earnings holding up - so far
Early earnings reports are showing that companies are holding up well, even with ongoing war-related uncertainty and higher energy costs, says Ipek Ozkardeskaya, Senior Analyst at Swissquote.
But Ozkardeskaya noted that the S&P500 is expected to post around 12% earnings growth for the quarter, which would be its weakest performance in nearly a year.
"Excluding tech, growth would be closer to 3%. That said, forecasts tend to be conservative and are often beaten—something seen in the vast majority of recent quarters," she wrote.
"And given investors’ clear willingness to push markets toward fresh highs, encouraging earnings in key sectors like technology could offset war-driven downside risks and keep sentiment relatively upbeat—despite a challenging geopolitical and macroeconomic backdrop."
12:00pm: Markets holding up well: analyst
Markets are holding up surprisingly well even with tensions around the ongoing closure of the Strait of Hormuz, says Chris Beauchamp, Chief Market Analyst at online trading platform IG.
“Even the smallest dip continues to be an opportunity for buying it seems," Beauchamp wrote Monday.
"What does it matter if the Straits of Hormuz remains closed, so long as the US and Iran are poised to begin talks again? Despite the gap down on the start of trading last night, equity markets continue to look towards a resolution of the conflict. This comes despite a surge in oil prices and a rise in the Vix that show market worries about the medium-term outlook refuse to go away.”
10:50am: Week ahead
Wall Street heads into the new week juggling three major forces: a packed earnings calendar, fast-moving geopolitical risks in the Middle East, and a series of macro events that could shape interest rate expectations.
The key issue for investors energy flows. Any disruption in the Strait of Hormuz has immediate implications for oil prices, inflation expectations, and bond yields.
On Tuesday, attention shifts to Washington, where Kevin Warsh faces his Senate confirmation hearing to become the next Federal Reserve chair nominee.
Meanwhile, earnings season is accelerating, with 88 S&P 500 companies set to report this week.
The spotlight is firmly on Tesla Inc (NASDAQ:TSLA), which reports Wednesday after the close. Investors will be watching for updates on its AI ambitions, including the AI5 chip timeline, robotaxi rollout plans, and capital spending guidance.
Intel also reports Thursday, with expectations muted after a weak prior quarter. Other notable names on deck include IBM, Texas Instruments, Boeing, and American Express.
10:00am: Stocks open with a whimper
Stocks opened slightly weaker on Monday, with the major averages drifting lower as geopolitical tensions in the Middle East once again took centre stage and a busy corporate and policy week got underway.
The Dow Jones was essentially flat, while the S&P 500 slipped 0.2% and the Nasdaq eased 0.4% at the open, reflecting a cautious tone across markets.
Sentiment was pressured after reports that US forces boarded an Iranian vessel in the Gulf of Oman, reviving concerns about escalation in the region. At the same time, Washington and Tehran are offering conflicting signals over whether peace talks could resume this week in Islamabad, Pakistan, adding another layer of uncertainty for investors already grappling with geopolitical risk.
On the corporate front, dealmaking remains firmly in focus. Alphabet’s Google is reportedly in talks with Marvell Technology to develop new artificial intelligence chips, according to The Information, underscoring the intensifying race for AI hardware dominance.
Healthcare also saw activity, with Eli Lilly in advanced discussions to acquire privately held Kelonia Therapeutics for more than $2 billion, according to the Wall Street Journal, as big pharma continues to double down on oncology pipelines.
Meanwhile, USA Rare Earth has agreed to acquire Brazil’s Serra Verde Group in a deal worth roughly $2.8 billion, highlighting continued strategic interest in critical minerals supply chains.
Elsewhere, psychedelics stocks surged in early trade after U.S. President Donald Trump signed an executive order aimed at accelerating research into psychedelic-assisted therapies and expanding access for patients with serious mental health conditions, including PTSD and treatment-resistant depression.
The order directs the FDA to prioritise review pathways for certain breakthrough-designated therapies, sparking a sharp rally across the sector. Compass Pathways jumped 36%, Atai Beckley gained 23%, GH Research added 20%, while Cybin rose 4% and Definium Therapeutics climbed 3%.
7:55am: Volatility expected
US equity futures fell on Monday after a weekend escalation in tensions between Washington and Tehran clouded prospects for a peace deal and rattled oil markets.
Futures on the S&P 500 and Dow dropped each by around 0.5%, with contracts shedding 0.4% amount in early trading.
The sell-off followed a confrontation in the Gulf of Oman in which the US Navy seized an Iranian cargo vessel, with President Donald Trump saying the ship was fired upon after failing to heed warnings.
Iran responded by reimposing controls on the Strait of Hormuz, a critical chokepoint for global oil flows, reversing an earlier pledge to keep the waterway open.
Oil prices surged in response, with US benchmark West Texas Intermediate crude climbing around 6% to around $88 a barrel and global benchmark Brent rising 4.7% to near $95.
The flare-up raised fresh inflation concerns and cast doubt over peace talks in Islamabad, where a fragile 14-day ceasefire is due to expire on Tuesday.
Investors now turn to a busy week of corporate earnings, with Tesla, Intel and United Airlines among the major names reporting.