4.15pm: Deadline eyed
US stocks finished the day on the front foot on hopes that a ceasefire deal will be reached between the US and Iran before Trump’s Tuesday deadline.
The Nasdaq added 0.5% at 21,996 points, the S&P 500 ended up 0.4% at 6,611 points, and the Dow Jones added 0.4% at 46,669 points.
3:40pm: Proactive news headlines
- TNR Gold Corp (TSX-V:TNR, FRA:TNW, OTC:TRRXF) secured C$4.2 million through a private placement with Altius Resources, which will acquire 23.5 million shares representing roughly 9.9% of the company post-issuance.
- Medicus Pharma submitted an optimized Phase 2 clinical study protocol to the FDA for Teverelix to assess its ability to prevent recurrent urinary retention in men with enlarged prostates.
- Highland Critical Minerals Corp (CSE:HLND, FRA:U8X) raised C$400,000 via a non-brokered flow-through private placement, issuing 1.6 million shares at C$0.25 each with tax-deductible benefits for investors.
2:35pm: Market movers
- Virgin Galactic Holdings Inc (NYSE:SPCE) shares jumped after it resumed ticket sales for its spaceflights at a higher $750,000 price point, signaling strong demand and a clearer path to revenue growth.
- Medicus Pharma (NASDAQ:MDCX) submitted an optimized Phase 2 study protocol to the FDA for its drug Teverelix, targeting prevention of recurrent urinary retention in men with enlarged prostate.
- Neurocrine Biosciences (NASDAQ:NBIX) agreed to acquire Soleno Therapeutics for about $2.9 billion in cash, offering a significant premium to expand its pipeline.
1:05pm: Mixed signals
Jeffrey Roach of LPL Financial said the ISM Services report showed a sharp rise in the prices paid component due to the oil shock, while new orders rebounded more strongly than expected, reaching their highest level since February 2023.
“The mixed signals illustrate the uncertain time for most businesses. Like the post-pandemic reopening years, healthy supply chains will be key to the growth and inflation outlook for the balance of 2026,” Roach said Monday.
“This report which focuses on the services sectors reveals an economy still spending on capex projects but is potentially at a tipping point. A prolonged struggle over the Strait of Hormuz into May and June would markedly darken the outlook for the U.S. and the global economy.”
11:50am: Job numbers steady, not spectacular
March’s payrolls showed steady job growth and a small drop in unemployment, which analysts are reading it as good news.
US employers added 178,000 jobs in March, lifting total payrolls while the unemployment rate edged down to 4.3% from 4.4%, according to the latest government data.
Analysts broadly characterized the report as steady rather than spectacular, with labor force participation remaining stagnant since early 2025.
UBS noted that the report “likely fuels the hawkish narrative,” citing factors such as returning striking workers and unusually warm weather that may have boosted seasonal hiring.
Bank of America described the report as “across-the-board strong,” emphasizing that the rebound from February’s weak numbers and minimal downward revisions kept the three-month average robust
10:45am: Week ahead
Wall Street heads into a busy week with investors balancing inflation data, energy market shocks, and a fresh wave of corporate earnings.
Inflation takes center stage midweek. Thursday brings the final Q4 GDP revision, with UBS analysts expecting little change at 0.6% annualized versus the preliminary 0.7%.
Friday delivers the March Consumer Price Index (CPI), with UBS forecasting core CPI up 0.27%, nudging the year-over-year rate from 2.46% to 2.66%.
Earnings and corporate trends will add another dimension. Delta Air Lines (DAL), Constellation Brands (STZ), Levi Strauss (LEVI), and BlackBerry (BB) report this week, providing a glimpse into travel demand, consumer spending, and enterprise adoption. Meanwhile, tech investors will be tuned into the HumanX AI Conference in San Francisco, featuring Nvidia (NVDA), Microsoft (MSFT), Amazon (AMZN), and Alphabet (GOOGL), keeping AI momentum in focus.
10:00am: Stocks open higher
Stocks started the week with a modest lift, as investors digested fresh economic data and big-picture geopolitical risks.
The Dow Jones Industrial Average inched up 30 points, or 0.1%, to 46,535, while the S&P 500 added 17 points, or 0.3%, to 6,600. Tech-heavy Nasdaq led the charge with a 0.5% gain, climbing 99 points to 21,978, and the Russell 2000 rose slightly to 2,533.
On the economic front, the ISM Services PMI for March came in at 54, below expectations of 54.9 and down from 56.1 in February. The report showed higher costs, with the Prices Paid index jumping to 70.7 from 63, while New Orders rose to 60.6. Employment in the sector cooled, slipping to 45.2 from 51.8, signaling some softness in hiring.
Investor attention also turned to geopolitical risks, as JPMorgan CEO Jamie Dimon warned that the Iran war could spark oil and commodity shocks, keeping inflation elevated and rates higher than markets currently expect. Dimon noted that while private credit isn’t a systemic risk, losses in leveraged lending could be bigger than anticipated given looser standards.
In deal news, Soleno Therapeutics surged 32% at the open after Neurocrine Biosciences announced a $2.9 billion acquisition, giving the biotech stock a strong early boost.
8:10am: Oil pulls back from highs
Stocks look set for a cautious but slightly upbeat open, with futures inching higher as investors juggle geopolitical tension, economic data, and fresh corporate headlines.
Contracts on the S&P 500 edged up 0.1%, while the tech-heavy Nasdaq 100 gained nearly 0.4%, suggesting some renewed appetite for growth stocks.
Futures on the Dow Jones Industrial Average were little changed, pointing to a more muted tone for blue chips.
Markets are keeping a close eye on developments out of the Middle East after Donald Trump set a Tuesday night deadline for Iran to agree to terms to reopen the Strait of Hormuz, warning of potential attacks on civilian infrastructure. In a sign of tentative progress, Iraq said it has received permission from Iran for its oil tankers to pass through the vital shipping route. Trump is also scheduled to speak at 1 p.m. Eastern, which could inject further volatility into the session.
On the economic front, investors are digesting stronger-than-expected labor data. The US added 178,000 jobs in March, while the unemployment rate dipped to 4.3%, reinforcing the narrative of a still-resilient economy. Attention now turns to the ISM services report due later this morning for a read on the broader economy.
Oil prices, which initially surged on geopolitical concerns, are now pulling back. Brent crude slipped 1.6% to around $107 a barrel, while West Texas Intermediate fell about 2% to near $109.
Nigel Green, CEO of deVere Group, said the choppy moves point to a market struggling for direction. “Price action like this shows a lack of conviction,” he said, noting that traders are reacting quickly as the risks of being wrong grow. He added that elevated oil prices remain a key concern, acting as a direct pressure point on inflation and complicating the outlook for central banks already grappling with persistent price pressures.
In corporate news, Jamie Dimon, CEO of JPMorgan Chase, took aim at revised capital rules in his annual shareholder letter, calling parts of them “nonsensical.” Meanwhile, Neurocrine Biosciences struck a $2.9 billion deal to acquire Soleno Therapeutics, highlighting continued consolidation in the obesity drug space.
