4:15pm: Peace optimism boosts stocks
US stocks finished Monday’s session higher on renewed hopes a peace deal would be struck between the US and Iran, with President Trump saying talks were ongoing.
The Nasdaq added 0.4% at 27,086 points, the S&P 500 was up 0.3% at 7,599 points, and the Dow Jones was up 0.1% at 51,078 points, marking resh record highs for all three indexes.
3:45pm: Proactive news headlines
- Arizona Gold & Silver Inc (TSX-V:AZS, OTCQB:AZASF, FRA:A9J0) has closed an $18 million financing with institutional investors Sorbie Bornholm LP and Sorbie Investments LLP through the issuance of 22.5 million units priced at $0.80 each.
- Cosmos Health (NASDAQ: COSM) is expanding into the animal health market by extending its C-Scrub disinfectant brand to veterinary applications after the product successfully met European testing standards.
- Parsons Corporation (NYSE: PSN) has secured a $99 million task order from the U.S. Air Force Research Laboratory to support the GARDEM 2 program through research, engineering, testing and integration of command-and-control and intelligence software technologies.
- IAMGOLD Corp (TSX:IMG, NYSE:IAG) reported a 12% increase in measured and indicated gold resources at its Côté Gold mine in Ontario to 20.3 million ounces, adding about 2.2 million ounces from its previous estimate.
- Ocean Power Technologies Inc (NYSE-A:OPTT) is expanding its defense-related activities in Europe through engagements in Poland and Norway focused on maritime security, autonomous systems and maritime domain awareness.
- Record Resources Inc (TSX-V:REC) said new geological analysis indicates its planned Loba Marine 2 well in Gabon could achieve initial production of more than 5,000 barrels of oil per day.
- M2i Global Inc (OTC:MTWO) has signed a letter of intent with Aurica Tokenization to develop a physically backed gold token platform, with plans to expand the model to other strategic minerals.
- Delivra Health Brands Inc. (TSX-V:DHB, OTCQB:DHBUF, FRA:3F0) said it expects sales to recover in the next quarter and fiscal 2027 as it restores shipments to Middle East distributors and grows its e-commerce business following disruption from regional geopolitical tensions.
2:45pm: Market movers
- Cosmos Health (NASDAQ: COSM) is expanding into the animal health market by extending its C-Scrub disinfectant brand to veterinary applications after the product successfully met European testing standards.
- MGM Resorts International (NYSE:MGM) has received a non-binding $18 billion all-cash takeover proposal from People Inc. (formerly IAC) for the 73.9% stake it does not already own, offering $48.30 per share.
- USA Rare Earth (NASDAQ: USAR) plans to invest more than €175 million in France by 2030 to expand its rare earth metal, alloy and magnet manufacturing operations.
- Nutanix Inc (NASDAQ:NTNX) said its Nutanix Unified Storage platform has achieved enterprise-level Nvidia certification, validating it for use with AI infrastructure powered by Nvidia accelerated-computing systems.
- Berkshire Hathaway Inc (NYSE:BRK.A) has agreed to acquire Taylor Morrison Home Corporation (NYSE: TMHC) in an all-cash deal valued at about $8.5 billion, paying shareholders $72.50 per share.
- Intel Corp (NASDAQ:INTC, XETRA:INL), Advanced Micro Devices Inc (NASDAQ:AMD, XETRA:AMD) and Qualcomm Inc (NASDAQ:QCOM, XETRA:QCI) shares fell after Nvidia Corp (NASDAQ:NVDA, XETRA:NVD) unveiled a new PC chip at Computex, intensifying competition in the Windows processor market.
- Ocean Power Technologies Inc (NYSE-A:OPTT) is expanding its defense-focused activities in Europe through new engagements in Poland and Norway centered on maritime security, autonomous systems and maritime domain awareness.
1:20pm: Anthropic files for IPO
Anthropic said on Monday it has confidentially filed for a US initial public offering, positioning the artificial intelligence company for what could become one of the most closely watched listings in the technology sector.
The company behind the AI model Claude noted that the number of shares to be offered and pricing have not yet been determined, and that timing will depend on market conditions and other factors. No further details on valuation or listing size were disclosed.
Anthropic last raised capital in late May, securing $65 billion in a Series H financing round at a reported post-money valuation of $965 billion.
Wedbush analysts wrote in a note that the filing marks a “major step” for Anthropic as it positions itself ahead of competitors in the race to public markets. The firm said the move could help Anthropic get ahead of OpenAI, which it expects may also pursue a confidential filing process, and comes as multiple high-profile technology companies prepare for potential IPO activity.
12:10pm: Manufacturing picks up
US manufacturing activity accelerated in May, with the ISM Manufacturing PMI rising to a four-year high of 54.0, topping expectations of 53.0 and up from 52.7 in April.
The gain was driven by a sharp increase in new orders, which climbed to 56.8 from 54.1 previously, signaling stronger demand. The employment index also improved to 48.6 from 46.4, though it remained in contraction territory.
Inflation pressures showed some easing, with the prices paid index falling to 82.1 from 84.6 in the prior month.
"For the overall economic outlook, the ISM survey shows that the economy continues to expand in the second quarter, albeit with winners and losers," said Bill Adams, Chief U.S. Economist, Fifth Third Commercial Bank.
"The economy looks to have grown at a decent clip in the first half of 2026. The slowdown in the first quarter was largely a function of weak additions to business inventories, a drag which should swing to a tailwind in coming quarters."
11:00am: Crunch point
Oil prices are rising again as US–Iran negotiations collapse, with Iran walking away from talks and tensions escalating in the Middle East.
Chris Beauchamp, chief market analyst at IG, warned the breakdown in dialogue is fueling a fresh surge in crude, reviving fears that supply risks could push oil back toward the $100-per-barrel level and weigh on broader market sentiment.
“Hopes of further progress in US-Iran talks have been dashed as the latter has walked away from the table. This has duly resulted in a spike for oil prices, since the combination of this and the weekend’s exchange of fire dramatically raises the chances of a fresh round of conflict," Beauchamp commented Monday.
"Markets know that oil stockpiles are being rapidly run down, and the rosy assumptions around the renewal of supplies involved the straits being open by June. No such opening is in sight, and each day brings the crunch point closer.”
10am: Markets wobble as oil spikes on Iran withdrawal from talks
Oil prices have shot higher and stocks have stumbled more than expected in the opening trades of the week.
Iran's Tasnim news agency has reported that Iran’s negotiating team is pulling out of message exchanges with the US through mediators Pakistan due to Israel’s offensive in Lebanon.
Iran and its "resistance front" will look to completely block the Straight of Hormuz and "activate" other fronts, including via allies the Houthis off the coast of Yemen, the report said.
WTI crude oil futures jumped 7.1% to over $93.65 a barrel, up over $8 from six-week lows seen on Friday.
The Dow Jones slipped 0.15% in opening trades while the S&P 500 and Nasdaq were down only a point or two, less than 0.1%.
Procter & Gamble, Amazon and Boeing were the largest fallers, all down 2.5-3%.
FedEx is the largest faller on the S&P, down 20% after spinning off its FedEx Freight arm.
Robinhood Markets, Coinbase and Qualcomm were next, all down more than 6%.
European markets are deeper in the red, with London's FTSE 100 falling 0.8% and Germany's DAX off 0.4%.
8am: Dow Jones set to build on record high
Wall Street begins June with the major US indices sitting at record highs after a strong May rally, though investors are closely watching developments in the Middle East and their impact on oil and other markets.
Dow Jones futures were up 0.5%, while contracts for the S&P 500 and Nasdaq were indicating gains of 0.3% and 0.2%, respectively.
Index futures were helped as Nvidia shares gained 2% in premarket trading, after launching a new superchip over the weekend.
The Dow crossed another milestone at the end of last week, closing above 51,000 for the first time at a record 51,032 after gaining 363 points, or 0.7% on the day.
The S&P 500 rose 0.2% to finish at 7,580, while the Nasdaq Composite added 0.2% to end at a record 26,973.Attention has now shifted back to geopolitics after hopes of a breakthrough between the US and Iran failed to produce an agreement over the weekend.
WTI crude futures rose 3.6% to $90.47 a barrel on Monday.
The latest reports from the region suggest tensions remain high. Kuwait said its air defences intercepted missile and drone attacks, while US Central Command said it struck several sites in Iran over the weekend in what it described as "self-defence" as it targeted "radar and command and control sites for drones".
US President Donald Trump posted on social media in the early hours that "Iran really wants to make a deal, and it will be a good one for the USA and those that are with us".
He fired back at critics, saying they make it "much tougher for me to properly do my job and negotiate, when political hacks keep negatively 'chirping,' at levels never seen before, over and over again, that I should move faster, or move slower, or go to war, or not go to war, or whatever.
"Just sit back and relax, it will all work out well in the end - It always does!"
Gains at the end of last week capped a strong month for US equities, driven by continued enthusiasm around artificial intelligence but also a broadening of the rally.
Over May, the Dow advanced 3.1%, the S&P 500 gained 4.8% and the Nasdaq climbed 7.4%. Year to date, the three benchmarks are up more than 6%, almost 11% and more than 16%, respectively.
Market analyst Kenny Polcari at Slatestone said the YTD numbers "tell a different story" as the tech mega-caps that kept the market going for the past two or three years are now lagging both the Nasdaq and the broader S&P.
The small-cap Russell 2000 is up 17.6%, the Dow Transports is leading at 23%, while the so-called Magnificent 7 are up just 7.7%.
"That tells us something important. The average stock is contributing more to this advance than it has in years," Polcari said.
"For much of 2023, 2024, and even parts of 2025, seven stocks were pulling the entire wagon. Today, the participation is much broader."
Looking forward, he flagged a week full of economic data "that should allow investors to refocus on what ultimately drives markets over time - the fundamentals".
Friday’s non-farm payrolls report is the big one, which could play an important role in shaping expectations for Federal Reserve policy, where there is currently a 50% chance seen of an interest hike before the end of the year.
Earnings updates this week include Hewlett Packard Enterprise today; Palo Alto Networks and Dollar General on Tuesday; then Broadcom and CrowdStrike on Wednesday; and Lululemon Athletica and Brown Forman on Thursday.