Stock Market Edges Higher Amid Mixed Signals on Iran Peace Talks
U.S. stock markets showed modest gains on Monday as investors weighed the impact of renewed Iran peace negotiations against ongoing concerns about disrupted oil supplies and higher energy costs. The S&P 500 reached a fresh record high but gains remained limited by geopolitical uncertainty.
Market Performance
The S&P 500 rose to a fresh record high on Monday, but gains were limited as stalled Iran peace talks and a fresh escalation in the Strait of Hormuz pushed oil prices higher. The broad market index last traded up 0.2% after reaching a new all-time high in the session.
Sector Highlights
Verizon (VZ) gained 3.5% after the communications giant raised its fiscal 2026 adjusted earnings outlook, following higher profit and revenue in its first quarter. Shares of Poet Technologies (POET) fell nearly 50% to $8 after the chip-scale photonic solutions company said it canceled all purchase orders from Celestial AI.
Oil Price Concerns
US gas prices edged up another penny to $4.11 for a gallon of regular, according to the latest reading from AAA. The rise marked the fifth straight day of price increases, following a two-week stretch of falling prices earlier this month that had taken prices down to $4.02.
Fed Policy
Kevin Warsh would step in at a delicate moment for the Fed, as a potential surge in gasoline prices could limit the central bank's ability to cut interest rates. Traders are currently pricing in a 100% chance that the Fed will leave rates unchanged at this week's meeting.