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flows through the Strait of Hormuz drove US crude above $112. In a volatile session, equities held on to small gains, with the S&P 500 posting its longest advance since January. Bonds and the dollar barely budged.Trump said talks with Iran are “going well” ahead of a Tuesday night deadline to agree to a deal, even as he insisted that freedom of navigation through the Strait of Hormuz must be part of any accord.If Iran does not agree to the US’s terms, the military could destroy “every bridge in Iran by 12 o’clock tomorrow night” and put every power plant “out of business,” Trump warned Monday.Iran reportedly passed to mediator Pakistan a rejection of a ceasefire proposal. It demanded a permanent end to the war, lifting of sanctions, and reconstruction efforts, in addition to protocol for safe passage through Hormuz, according to the state-run Islamic Republic News Agency.“It’s clearly too early for market watchers to stop thinking about geopolitical risk,” said Jeff Buchbinder at LPL Financial. “For now, we believe the best course of action for investors is to be patient.”While traders kept a close eye on geopolitical developments, they awaited this week’s key inflation readings. Data showed the US service economy expanded in March at a slower pace as employment shrank by the most since 2023 and input prices accelerated sharply.The mixed economic signals illustrate the uncertain time for most businesses, according to Jeff Roach at LPL Financial.“A prolonged struggle over the Strait of Hormuz into May and June would markedly darken the outlook for the US and the global economy,” he said. “For now, given last Friday’s payroll numbers, Fed policymakers have the luxury of remaining in ‘wait and see’ mode.”While investors have been fixated on geopolitical risks, the macro data continues to point to a resilient economy and a still-constructive earnings outlook, according to Mark Hackett at Nationwide.“We believe the S&P 500 is carving out a low and think it makes sense to start adding length in cyclical and quality growth trades where earnings remain strong, valuation has compressed, and sentiment is negative,” said Michael Wilson at Morgan Stanley.Systematic investors are poised to flip back into equity-buying mode after slashing their exposure to multi-year lows during the recent market selloff, according to Goldman Sachs Group Inc.’s trading desk.Terms and Privacy PolicyPrivacy & Cookie SettingsMore InfoTrending tickersBTC-USD Bitcoin USD 71,702.69 +3,109.70 (+4.53%)PANW Palo Alto Networks, Inc. 169.87 +7.92 (+4.89%)META Meta Platforms, Inc. 575.05 +2.03 (+0.35%)TTD The Trade Desk, Inc. 20.70 -1.51 (-6.80%)QNCX Quince Therapeutics, Inc. 0.1630 +0.0755 (+86.29%)PortfolioSign in to access your portfolioSign inTop gainersCAR Avis Budget Group, Inc. 255.15 +42.55 (+20.01%)ALHC Alignment Healthcare, Inc. 21.66 +2.99 (+16.02%)ELVN Enliven Therapeutics, Inc. 43.16 +4.22 (+10.84%)PSKY Paramount Skydance Corporation 10.90 +1.05 (+10.66%)AAOI Applied Optoelectronics, Inc. 117.64 +10.19 (+9.48%)Top losersMNR Mach Natural Resources LP 12.63 -1.52 (-10.74%)SMR NuScale Power Corporation 9.16 -1.01 (-9.93%)AXON Axon Enterprise, Inc. 372.87 -40.20 (-9.73%)RGC Regencell Bioscience Holdings Limited 27.86 -2.97 (-9.63%)NN NextNav Inc. 15.07 -1.54 (-9.30%)Most activeINTC Intel Corporation 52.91 +2.13 (+4.19%)NVDA NVIDIA Corporation 178.10 +0.46 (+0.26%)HOLX Hologic, Inc. 76.01 0.00 (0.00%)NOK Nokia Oyj 8.85 -0.04 (-0.45%)PLUG Plug Power Inc. 2.5200 -0.1700 (-6.32%)Top economic eventsEarnings eventsMy earnings eventsEarnings events