Market Overview
Stocks pulled back modestly to start the week as renewed geopolitical tensions cast a shadow over what had been a strong recent run. The S&P 500 shed 0.24% to close at 7,109.14, while the Nasdaq Composite declined 0.26% to finish at 24,404.39 — snapping its 13-day winning streak, its longest positive run since 1992. The Dow Jones Industrial Average was essentially flat, losing just 4.87 points (0.01%) to settle at 49,442.56. In a notable divergence, the small-cap Russell 2000 rose 0.58% to 2,792.96, scoring a new closing record and hitting a new all-time intraday high during the session. CNBC
Geopolitical Overhang: Iran Tensions Return
The day’s dominant story was a fresh escalation in the Middle East. Over the weekend, President Trump announced the U.S. had seized an Iranian cargo ship in the Gulf of Oman. A ceasefire is set to expire this week, and Iran has again restricted traffic through the Strait of Hormuz, a key global oil route. The energy market reacted sharply: West Texas Intermediate futures surged 6% to above $89/barrel, while Brent crude rose 5% to above $95.
On the bright side, the iShares Expanded Tech-Software Sector ETF climbed more than 1%, suggesting traders may be rotating into domestically insulated tech plays amid the geopolitical noise.
Notable Movers
Marvell Technology (MRVL) — Big Gainer Marvell shares surged following reports of a strategic collaboration with Alphabet to develop custom AI silicon. According to The Information, the companies are co-designing two specialized processors: a memory processing unit to enhance Google’s existing TPUs and a dedicated chip for AI model inference, with designs slated for completion by 2027. Marvell has been a top semiconductor performer in 2026, with shares climbing 60% year-to-date as hyperscalers seek alternatives to Nvidia hardware to handle massive machine learning workloads.
AST SpaceMobile (ASTS) — Big Loser Shares dropped sharply after confirmation that its BlueBird 7 satellite was placed into a lower-than-planned orbit during Sunday’s launch aboard Blue Origin’s third New Glenn rocket mission. The company said it expects the cost of the satellite to be recovered by an insurance policy, and it still plans to conduct orbital launches once every one to two months through 2026.
TopBuild (BLD) — M&A Surge Shares of TopBuild jumped more than 17% after QXO announced it would acquire the company for $17 billion, saying the acquisition will create a higher-margin business and be immediately accretive to earnings.
QXO (QXO) — M&A Drag QXO closed down 3.16%, as investors reacted to the $17 billion cash-and-stock agreement with concerns over dilution and leverage. Trading volume reached 52.3 million shares, roughly 532% above its three-month average.
Cleveland-Cliffs (CLF) — Earnings Disappointment Shares traded lower following the company’s Q1 2026 earnings release, even as the steelmaker reported results that beat analyst expectations for both revenue and earnings. Proactiveinvestors NA
Sector Snapshot
On Friday’s prior session — which helped cement a strong weekly finish heading into today — nine of the S&P 500’s 11 sectors ended in positive territory. Industrials, Consumer Discretionary, and Information Technology rose 1.8%, 2%, and 1.6%, respectively, while Energy fell 2.9%. Monday’s renewed oil surge will likely shift those dynamics when the week’s sector tallies are updated.
Alain’s Holdings
| Symbol | Name | Price | Change | Change % |
|---|---|---|---|---|
| VOO | Vanguard S&P 500 ETF | 650.34 | -2.44 | -0.37% |
| QQQ | Invesco QQQ Trust | 646.80 | -2.05 | -0.32% |
| XIU.TO | iShares S&P/TSX 60 ETF | 50.51 | +0.02 | +0.04% |
| VRT | Vertiv Holdings Co. | 314.41 | +7.10 | +2.31% |
Trending
| Symbol | Name | Price | Change | Change % |
|---|---|---|---|---|
| TSLA | Tesla, Inc. | 161.48 | -9.71 | -5.67% |
| MARA | Marathon Digital Holdings | 15.11 | +0.61 | +4.21% |
| DJT | Trump Media & Tech Group | 33.19 | +4.91 | +17.36% |
| NVDA | NVIDIA Corporation | 846.71 | -2.46 | -0.29% |
| AMD | Advanced Micro Devices | 160.32 | +0.12 | +0.07% |
Top Gainers
| Symbol | Name | Price | Change | Change % |
|---|---|---|---|---|
| GMM | General Mining Corp. | 4.20 | +1.35 | +47.37% |
| INBS | Intelligent Bio Solutions | 3.50 | +0.85 | +32.08% |
| AXTI | AXT, Inc. | 3.34 | +0.77 | +29.96% |
| STOK | Stoke Therapeutics | 16.15 | +3.48 | +27.47% |
| VERV | Verve Therapeutics | 8.94 | +1.93 | +27.53% |
Top Losers
| Symbol | Name | Price | Change | Change % |
|---|---|---|---|---|
| BMI | Badger Meter, Inc. | 155.54 | -36.75 | -19.11% |
| PBF | PBF Energy Inc. | 37.16 | -5.47 | -12.83% |
| DK | Delek US Holdings, Inc. | 23.23 | -3.26 | -12.30% |
| MMED | Mind Medicine (MindMed) | 8.02 | -1.20 | -13.02% |
| MAIN | Main Street Capital | 43.46 | -3.56 | -7.57% |
52-Week Highs
| Symbol | Name | Price | Change | Change % |
|---|---|---|---|---|
| BW | Babcock & Wilcox Enter. | 1.43 | +0.08 | +5.93% |
| AXTI | AXT, Inc. | 3.34 | +0.77 | +29.96% |
| RGC | Regencell Bioscience | 10.57 | +0.76 | +7.75% |
| SNDX | Syndax Pharmaceuticals | 25.56 | +0.73 | +2.94% |
| TERN | Terns Pharmaceuticals | 7.69 | -0.02 | -0.26% |
52-Week Lows
| Symbol | Name | Price | Change | Change % |
|---|---|---|---|---|
| FIGS | FIGS, Inc. | 5.32 | -0.02 | -0.37% |
| FRME | First Merchants Corp. | 32.67 | +0.34 | +1.05% |
| BURL | Burlington Stores, Inc. | 196.48 | +0.21 | +0.11% |
| MNDY | monday.com Ltd. | 196.37 | -2.94 | -1.47% |
| FISV | Fiserv, Inc. | 152.44 | -1.15 | -0.75% |
Looking Ahead
Markets have set a high bar for 2026 earnings. Even if estimates follow the average downward trajectory from 2011 to 2025, EPS growth would still hit double digits — but at elevated valuations, returns may not be as forgiving. With a ceasefire deadline looming in the Middle East and earnings season ramping up, volatility could pick back up as the week progresses.
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