Nasdaq streak ends as Tesla dips, Marvell rallies.
U.S. stocks edged lower on Monday as renewed tensions between the U.S. and Iran pressured sentiment, snapping the Nasdaq Composite’s 13-day winning streak, its longest since 1992. The S&P 500 slipped 0.24%, while the Dow Jones was little changed.
The pullback comes after a sharp shift in the geopolitical backdrop over the weekend. Iran signaled renewed restrictions around the Strait of Hormuz, while the U.S. responded by seizing an Iranian-linked cargo ship, raising concerns about a potential escalation.
Oil prices reacted immediately, with WTI crude surging nearly 7% and Brent crude rising more than 5%. The move reversed last week’s sharp decline and brought energy markets back into focus as a key driver of broader market sentiment.
Despite the weakness in major indexes, performance was mixed beneath the surface. Software stocks showed resilience, while small caps outperformed, with the Russell 2000 hitting a fresh closing high. At the stock level, Marvell (MRVL) jumped nearly 6% to a record high on AI chip news, while Tesla (TSLA) declined around 2% ahead of its earnings release.
Markets are now balancing geopolitical uncertainty with the start of earnings season, with Tesla (TSLA) and upcoming reports from major companies expected to shape direction in the coming sessions.
📊 Market Wrap
🧠 Analyst Notes
💬 Market Highlights
Adobe Expands AI Push with Enterprise Agents
Adobe (ADBE) gained after launching its AI agent platform aimed at automating enterprise workflows across marketing, sales, and customer engagement. The move strengthens its position in the AI race as adoption accelerates across large organizations.
Strategy Deepens Bitcoin Bet
Strategy (MSTR) increased its Bitcoin holdings to over 815,000 BTC after a $2.5 billion purchase, reinforcing its aggressive treasury strategy. The stock remains highly sensitive to crypto price swings, which continues to drive volatility.
Costco, FedEx Face Tariff Refund Disputes
Costco (COST) and FedEx (FDX) are facing legal challenges tied to tariff refunds following a Supreme Court decision. The debate centers on whether refunds should benefit companies or be passed on to consumers.
📅 Earnings Watch
Markets are likely to remain sensitive to geopolitical developments and oil price movements, while earnings results this week could determine whether the broader uptrend resumes.
What stocks are you watching today?
