"The stock market opened lower on the rejection of President Trump's peace offering, but buyers once again circled the wagons. Positive earnings and a tidal wave of momentum for all things AI and technology were enough to lift the major indexes higher by noon, and by the close, all finished higher. The Russell 2000, the leading index this year, closed up 0.25% on Monday to 2,868."
"Treasury Bonds: After a solid end to the week last Friday, the bond market saw sellers come in on Monday as rates rose across the entire yield curve, with the bulk of the move in the belly and on the long end. Traders cited the Iranian situation, the fact that inflation continues to run hotter than the Federal Reserve's target, and the possibility that hopes for a rate cut this year may be dashed as reasons for the selling at the start of the week. The 30-year long bond closed the session at 4.98%, while the benchmark 10-year note was last seen at 4.41%."
"Oil and Gas: Needless to say, all the oil bulls needed was the President to reject Iran's counter, and the oil benchmarks took off higher. By the end of the day, Brent Crude was higher by 2.96% and closed at $104.30, while West Texas Intermediate finished the session at $98.30, up 3.02%. Natural gas closed up 5.84% at $2.92."
"Gold: Gold followed through on last week's strength, posting a solid start to the week. By the closing bell, the precious metal was last seen at $4,733, up 0.42%, while Silver, which was on fire Friday, closed the session at $85.76, up 6.91%. Crypto: Bitcoin held firm above $81,000, trading near $81,5"
Futures traded lower while major indexes reached another round of record highs, driven by strong earnings and broad momentum in AI and technology. The S&P 500 closed above 7,400 for the first time, finishing up 0.27% at 7,419, while the Nasdaq ended slightly higher at 26,274. The Russell 2000 gained 0.25% to 2,868 and the Dow rose 0.10% to 49,657. Treasury yields increased across the curve, with selling concentrated in the belly and long end, reflecting geopolitical risk, hotter-than-target inflation, and reduced expectations for a rate cut. Oil jumped after the rejection of Iran’s counteroffer, with Brent and WTI rising about 3% and natural gas up sharply. Gold and silver also advanced, while Bitcoin held above $81,000.
Read at 24/7 Wall St.
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