The S&P 500 ETF (SPY) secured an all-time high of $715 on Monday in an otherwise quiet day for the market ahead of an eventful week of earnings.
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News That Moved the Stock Market Today
- Over the weekend, President Trump canceled a planned trip for special envoys Steve Witkoff and Jared Kushner to meet with a delegation of Iranian officials in Islamabad
- Iran proposed a peace deal to permanently end the war, offering to reopen the Strait of Hormuz in exchange for the U.S. lifting its blockade on Iranian ports. The plan did not include negotiations on its nuclear program, which Iran seeks to delay.
- White House Press Secretary Karoline Leavitt said she “wouldn’t say” the Trump administration is considering the proposal.
- Trump expects the U.S. blockade to force Iran to cease oil production within three days, which could damage its energy infrastructure.
- Microsoft (MSFT), Meta Platforms (META), Alphabet (GOOGL), and Apple (AAPL) are set to report their earnings later this week.
- OpenAI announced that its AI models will no longer be exclusive to Microsoft. In addition, Microsoft will stop paying a share of revenue to OpenAI.
- Tesla (TSLA) reversed losses after CEO Elon Musk registered 304 million shares as part of his reinstated 2018 compensation plan.
- AMD (AMD) closed in the red after five-star Citi analyst Atif Malik dropped the stock from the firm’s 30‑day catalyst watch.