• Russell 2000: +11.4% YTD
• S&P Mid Cap 400: +10.4% YTD
• Nasdaq Composite: +4.4% YTD
• S&P 500: +3.2% YTD
• DJIA: +2.3% YTD

Reviewing today's data:

• March Retail Sales 1.7% (Briefing.com consensus 1.3%); Prior was revised to 0.7% from 0.6%, March Retail Sales, ex-auto 1.9% (Briefing.com consensus 0.9%); Prior was revised to 0.7% from 0.5%
  • The key takeaway from the report is that retail sales look great from a headline perspective, but higher gas prices and higher prices in general were the main drivers. Excluding gasoline sales, retail sales were up 0.6% month-over-month, which looks good, but remember retail sales are not adjusted for price changes. Accordingly, it becomes evident that the sales gains in March were driven more by higher prices than increased volume, which is a better indication of demand.
• February Business Inventories 0.4% (Briefing.com consensus 0.1%); Prior -0.1%
• March Pending Home Sales 1.5% (Briefing.com consensus 0.5%); Prior was revised to 2.5% from 1.8%

[BRIEFING.COM] The S&P 500 (-0.1%), Nasdaq Composite (flat), and DJIA (-0.1%) are off their session lows late in the afternoon.

At the sector level, gains remain limited to the energy (+1.1%) and information technology (+0.3%) sectors.

Software names continue to outperform today, while hardware and computer peripheral names such as NetApp (NTAP 112.50, +5.72, +5.35%) and Dell (DELL 213.64, +9.40, +4.60%) post even wider gains.

Still, upside in the sector remains capped as Apple (AAPL 268.08, -4.97, -1.82%) and NVIDIA (NVDA 200.87, -1.19, -0.59%) both trade lower today.

[BRIEFING.COM] The S&P 50 (-0.5%), Nasdaq Composite (-0.4%), and DJIA (-0.5%) remain modestly lower as the market enters the final hour of the session.

The latest reports suggest that the next round of talks between the U.S. and Iran may not happen this week, with The New York Times reporting that Vice President JD Vance's flight to Pakistan has been put on hold after Iran failed to respond to U.S. negotiation conditions.

Crude oil futures settled today's session $2.40 higher (+2.7%) at $91.80 per barrel.

[BRIEFING.COM] The S&P 500 (-0.48%) is in last place on Tuesday afternoon, down about 35 points.

Briefly, S&P 500 constituents Tractor Supply (TSCO 39.35, -5.46, -12.18%), EchoStar (SATS 124.40, -10.71, -7.93%), and Prudential (PRU 95.96, -6.64, -6.47%) dot the bottom of the standings. TSCO falls on this morning's Q1 miss and soft comps, SATS falls as recent gains are unwound, with lingering concerns around debt, business disputes, and some insider selling weighing on sentiment, while PRU dips on reports of customer fraud at the company's Gibraltar Life subsidiary.

Meanwhile, HP Inc. (HPQ 21.18, +1.59, +8.12%) is strong despite a dearth of corporate news.

[BRIEFING.COM] The tech-heavy Nasdaq Composite (-0.25%) is in second place on Tuesday afternoon, down about 60 points.

Gold futures settled $109.20 lower (-2.3%) at $4,719.60/oz, as a stronger U.S. dollar and rising Treasury yields increased the opportunity cost of holding the metal, pressuring prices lower. At the same time, shifting expectations that inflationary pressures could keep interest rates higher for longer outweighed safe-haven demand despite ongoing geopolitical tensions.

Meanwhile, the U.S. Dollar Index is higher about +0.3% to $98.35.

[BRIEFING.COM] The Dow Jones Industrial Average (-0.50%) is down about 246 points this afternoon, narrowly off session lows.

A look inside the DJIA shows that Merck (MRK 112.46, -4.64, -3.96%), Honeywell (HON 221.43, -8.31, -3.62%), and Apple (AAPL 265.85, -7.20, -2.64%) are underperforming.

Meanwhile, Cisco (CSCO 88.89, +1.18, +1.35%) is near the top of the standings.

The DJIA is now -0.51% lower week-to-date.

[BRIEFING.COM] The S&P 500 (-0.4%), Nasdaq Composite (-0.4%), and DJIA (-0.3%) are modestly lower after stocks gave up their early gains amid an uptick in geopolitical uncertainty.

The major averages held decent gains early in the session, with the S&P 500 and Nasdaq Composite approaching Friday's record high levels. Stocks were supported by this morning's batch of earnings reports that mostly topped expectations, while optimism around the U.S. and Iran reaching a deal this week kept oil prices flattish.

The major averages moved into negative territory about an hour before midday as reports began to circulate that it is now unclear whether Iran will meet in Pakistan for the next round of talks with the U.S. Additionally, Vice President JD Vance, who was set to lead the U.S. side of negotiations, remains in the U.S. with the ceasefire deadline looming.

The price of oil made a decisive move higher, with crude oil currently up $2.95 (+3.4%) to $90.37 per barrel.

The energy sector (+0.8%) now holds the widest gain across S&P 500 sectors, but the bounce in oil prices has notably softened broader strength.

The consumer discretionary sector (+0.2%) is the only other S&P 500 sector that remains in positive territory. Amazon (AMZN 251.86, +3.58, +1.44%) is a mega-cap standout amid a weaker day for the market's largest components (the Vanguard Mega Cap Growth ETF is down 0.4%), with the stock trading higher after announcing an expanded partnership with Anthropic that is highlighted by a potential $25 billion incremental investment and Anthropic's commitment to spend over $100 billion on AWS over the next decade.

Elsewhere in the sector, D.R. Horton (DHI 164.08, +10.74, +7.01%) is one of the best-performing S&P 500 components after topping earnings estimates. Homebuilder peers have responded positively, with the iShares U.S. Home Construction ETF up 0.9%.

The top-weighted information technology sector (-0.1%) is another relative outperformer, though it recently moved below its flatline. Software stocks are charting solid gains, pushing the iShares GS Software ETF 1.4% higher.

That strength is offset by considerable weakness in Apple (AAPL 266.24, -6.81, -2.49%) after announcing a major leadership transition, with Tim Cook stepping down after 15 years as CEO and John Ternus set to take the helm on September 1, 2026.

Currently, the real estate sector (-1.6%) is the worst performer, facing pressure as treasury yields move higher today. The 2-year note yield is up six basis points to 3.78%, and the 10-year note yield is up four basis points to 4.29%.

Elsewhere, earnings remain a key driver of price action, with both the strongest and weakest performers across sectors largely reacting to individual results and guidance. In particular, Halliburton (HAL 38.28, +1.60, +4.35%) leads strength in the energy sector (+0.8%), while Northrop Grumman (NOC 618.42, -38.56, -5.87%) and GE Aerospace (GE 285.32, -18.28, -6.02%) weigh heavily on the industrials sector (-0.9%), and UnitedHealth's (UNH 350.40, +26.92, +8.32%) impressive gain fails to offset weakness across pharmaceutical names in the health care (-0.7%) sector.

Outside of the S&P 500, the Russell 2000 (-0.5%) and S&P Mid Cap 400 (-0.2%) also trade modestly lower.

So far, some intraday geopolitical volatility has forced stocks off a decent early course, though the losses are modest in nature, with attention increasingly shifting back to earnings as the primary driver of price action.

Reviewing today's data:

• March Retail Sales 1.7% (Briefing.com consensus 1.3%); Prior was revised to 0.7% from 0.6%, March Retail Sales, ex-auto 1.9% (Briefing.com consensus 0.9%); Prior was revised to 0.7% from 0.5%
  • The key takeaway from the report is that retail sales look great from a headline perspective, but higher gas prices and higher prices in general were the main drivers. Excluding gasoline sales, retail sales were up 0.6% month-over-month, which looks good, but remember retail sales are not adjusted for price changes. Accordingly, it becomes evident that the sales gains in March were driven more by higher prices than increased volume, which is a better indication of demand.
• February Business Inventories 0.4% (Briefing.com consensus 0.1%); Prior -0.1%
• March Pending Home Sales 1.5% (Briefing.com consensus 0.5%); Prior was revised to 2.5% from 1.8%

[BRIEFING.COM] The S&P 500 (-0.3%), Nasdaq Composite (-0.2%), and DJIA (-0.1%) are little changed from previous levels.

Steel Dynamics (b219.38, +10.04, +4.79%) is sharply higher again today after reporting EPS in-line and beating revenue expectations. The stock finished as one of the top-performing S&P 500 components yesterday with a similar gain.

However, the materials sector (-1.0%) trades lower, with Newmont Corporation (NEM 110.50, -4.34, -3.78%) and Freeport-McMoRan (FCX 68.20, -1.98, -2.82%) among the worst performers as precious metals prices take a step back today.

[BRIEFING.COM] The major averages continue to trade in a narrow range modestly below their unchanged levels at midday.

The industrials sector (-1.2%) is now one of the worst-performing S&P 500 sectors as Northrop Grumman (NOC 615.52, -41.46, -6.31%) and GE Aerospace (GE 285.63, -17.97, -5.92%) both move sharply lower following their earnings reports. The companies topped earnings estimates, but guidance lacked an upside catalyst, with both companies reaffirming their 2026 outlook. The iShares U.S. Aerospace and Defense ETF is down 3.6%.

Elsewhere in the sector, 3M (MMM 148.61, -2.79, -1.84%) is also lower after reporting its Q1 results this morning, delivering an EPS beat while revenue came in roughly in line with expectations, alongside adjusted organic sales growth of 1.2%. The results reflect early signs of stabilization and modest growth in a still-sluggish macro environment, with improving order trends and margin expansion helping offset pockets of end-market weakness. Importantly, the company reaffirmed its FY26 guidance, reinforcing confidence in a back-half acceleration despite ongoing cost and macro uncertainties.

[BRIEFING.COM] The S&P 500 (-0.3%), Nasdaq Composite (-0.1%%), and DJIA (-0.2%) are modestly lower just before midday as the market navigates a sizable batch of earnings and shifting geopolitical developments. Stocks have given up their early gains following reports that Pakistani officials are still awaiting formal confirmation on whether the Iranian delegation will attend the next round of ceasefire talks.

After trading little changed for most of the session, crude oil is now up $2.29 (+2.6%) to $89.71 per barrel. The energy sector (+0.6%) moved into positive territory, though the bump in oil prices now leaves just two other S&P 500 sectors trading higher

The consumer discretionary sector (+0.2%) still trades higher as Amazon (AMZN 252.40, +4.12, +1.66%) moves higher after announcing a strategic collaboration with Anthropic. Homebuilders are also posting solid gains after DHI topped earnings expectations.

Meanwhile, the information technology sector (+0.1%)  holds on to a modest gain, supported by continued momentum across software stocks that push the iShares GS Software ETF 1.6% higher.

Other notable earnings reports include those of UnitedHealth (UNH 347.27, +23.79, +7.35%), GE Aerospace (GE 286.32, -17.28, -5.69%), 3M (MMM 148.60, -2.80, -1.85%), and Northern Trust (NTRS 167.24, +8.24, +5.19%).

[BRIEFING.COM] The major averages have seen a modest dip from session highs, currently in close proximity to their unchanged levels.

UnitedHealth (UNH 345.45, +21.97, +6.79%) is one of the best-performing S&P 500 component after reporting its Q1 results this morning. The managed care and health services giant delivered a sizable EPS beat, its largest in the last five years, while revenue increased 2% year-over-year to $111.72 billion, also nicely above expectations.

Additionally, the company raised its FY26 EPS guidance above expectations to greater than $18.25 from $17.75, suggesting its efforts to manage elevated medical costs through disciplined pricing, portfolio repositioning, and tighter operating execution are helping drive stronger profitability. Overall, the stock is rallying because the quarter marked meaningful progress, but it will be important for UNH to continue stabilizing performance and make progress against still-elevated medical cost and utilization trends.

Despite the rally in UnitedHealth, the health care sector (-0.2%) trades lower this morning, with particular weakness across pharmaceutical names such as Merck (MRK 112.21, -4.89, -4.18%) and Eli Lilly (LLY 883.91, -35.99, -3.91%).

[BRIEFING.COM] The S&P 500 (+0.3%), Nasdaq Composite (+0.4%), and DJIA (+0.5%) continue to move modestly higher this morning, with the S&P 500 and Nasdaq Composite sitting just below Friday's all-time high levels.

The information technology sector (+0.4%) holds a decent gain, supported by momentum across software names that has the iShares GS Software ETF up 2.5%. Semiconductor stocks are also waking up from a sluggish start, with the PHLX Semiconductor Index up 1.0%.

Despite the sector's broad strength, Apple (AAPL 269.44, -3.60, -1.32%) is a mega-cap laggard after announcing a major leadership transition, with Tim Cook stepping down after 15 years as CEO and John Ternus set to take the helm on September 1, 2026.

Cook will remain CEO through the summer before transitioning to executive chairman, where he will continue engaging with global policymakers. This transition represents a pivotal shift for Apple as it moves beyond the Cook era. While Cook strengthened Apple's operational excellence and profitability, investor sentiment has increasingly focused on the company's perceived lack of product excitement and slower progress in AI. Ternus brings a product-centric background that could help address those concerns, particularly if he can deliver meaningful innovation in areas like foldables and AI integration. That said, continuity is likely in the near term given Ternus' long tenure, and Cook's move to executive chairman raises questions about his ongoing influence.

[BRIEFING.COM] The S&P 500 (+0.4%), Nasdaq Composite (+0.4%), and DJIA (+0.7%) are modestly higher this morning as stocks look to take back yesterday's losses.

The Dow's outperformance can be attributed in part to a nearly double-digit gain in UnitedHealth (UNH 354.12, +30.64, +9.47%) after it topped earnings expectations, with 3M (MMM 152.63, +1.23, +0.81%) also trading higher after earnings.

Despite UnitedHealth's gain, the health care sector (-0.2%) is an early laggard as it faces broad weakness elsewhere.

Sector strength is mixed, with seven S&P 500 sectors trading higher.

The financials sector (+0.8%) is an early outperformer, supported by broad strength and solid post-earnings gains in MSCI (MSCI 598.86, +31.91, +5.63%) and Northern Trust (NTRS 164.79, +5.80, +3.65%).

Meanwhile, the consumer discretionary sector (+1.0%) also trades higher, with Amazon (AMZN 253.56, +5.28, +2.13%) an early mega-cap standout after announcing an expanded partnership with Anthropic.

The market is also supported by lingering optimism on the geopolitical front, with President Trump telling CNBC that he expects a "great deal" with Iran. Crude oil is currently down $0.73 (-0.8% 0 to $86.69 per barrel.

Just released, business inventories increased 0.4% in February (Briefing.com consensus 0.1%, from a prior decrease of 0.1%.

Pending home sales increased 1.5% in March (Briefing.com consensus 0.5%), from an upwardly revised prior increase of 2.5% (from1.8%).

Equity futures point to a higher open as investors digest a strong batch of earnings, while geopolitical headlines continue to suggest a potential de-escalation in the Iran conflict despite ongoing uncertainty.

On the data front, total retail sales increased 1.7% month-over-month in March (Briefing.com consensus: 1.3%), driven by a 15.5% increase in gasoline sales, following an upwardly revised 0.7% increase (from 0.6%) in February. Excluding autos, retail sales surged 1.9% (Briefing.com consensus: 0.9%) following an upwardly revised 0.7% increase (from 0.5%) in February.

The key takeaway from the report is that retail sales look great from a headline perspective, but higher gas prices and higher prices in general were the main drivers. Excluding gasoline sales, retail sales were up 0.6% month-over-month, which looks good, but remember retail sales are not adjusted for price changes. Accordingly, it becomes evident that the sales gains in March were driven more by higher prices than increased volume, which is a better indication of demand.

The S&P 500 futures currently trade 19 points above fair value.

Equity indices in the Asia-Pacific region had a mostly higher showing on Tuesday. South Korea's exports were up 49.4% through the first 20 days of April with chip exports jumping 182.5%. China Securities Journal noted that measures aimed at stabilizing the stock market have gained traction. Fitch expects China's fiscal deficit to remain at 7.3% of GDP in 2026. New Zealand's CPI remained above target for the second consecutive quarter in the reading for Q1.

• In economic data:
  • New Zealand's Q1 CPI 0.9% qtr/qtr (expected 0.8%; last 0.6%); 3.1% yr/yr (expected 2.9%; last 3.1%). Q1 NZIER Business Confidence -4% (last 48%) and Q1 NZIER Capacity Utilization 91.2% (last 89.8%)

---Equity Markets---

• Japan's Nikkei: +0.9%
• Hong Kong's Hang Seng: +0.5%
• China's Shanghai Composite: +0.1%
• India's Sensex: +1.0%
• South Korea's Kospi: +2.7%
• Australia's ASX All Ordinaries: UNCH

Major European indices trade with modest gains. European Central Bank policymaker Rehn said that there is no set rate path and that the current starting point is "reasonably balanced." Meanwhile, ECB President Lagarde said that the central bank's response will be determined by the duration of the energy shock. French Prime Minister Lecornu is seeking EUR4 bln in spending cuts. Germany's ZEW institute noted that expectations are slipping into negative territory.

• In economic data:
  • Eurozone's April ZEW Economic Sentiment -20.4 (expected -12.7; last -8.5)
  • Germany's April ZEW Economic Sentiment -17.2 (expected -6.7; last -0.5) and ZEW Current Conditions -73.7 (expected -70.0; last -62.9)
  • U.K.'s February three-month employment change 25,000 (last 84,000). February Average Earnings Index + Bonus 3.8% yr/yr (expected 3.6%; last 4.1%). February Unemployment Rate 4.9% (expected 5.2%; last 5.2%) and March Claimant Count change 26,800 (expected 21,400; last 17,100)
  • Spain's February trade deficit EUR3.30 bln (last deficit of EUR4.00 bln)
  • Swiss March trade surplus CHF3.177 bln (last surplus of CHF4.105 bln)

---Equity Markets--- 

• STOXX Europe 600: +0.1%
• Germany's DAX: +0.1%
• U.K.'s FTSE 100:-0.3%
• France's CAC 40: -0.4%
• Italy's FTSE MIB: +0.1%
• Spain's IBEX 35: +0.3%

The S&P 500 futures currently trade 30 points above fair value.

Just released, total retail sales jumped 1.7% month-over-month in March (Briefing.com consensus: 1.3%) following an upwardly revised 0.7% increase (from 0.6%) in February.

Excluding autos, retail sales rose 1.9% (Briefing.com consensus: 0.9%) after an upwardly revised 0.7% increase (from 0.5%) in February.

Equity futures point to a higher opening this morning as investors assess a hefty batch of earnings reports and monitor developments on the geopolitical front.

The major averages finished mostly lower yesterday, snapping a 13-session winning streak for the Nasdaq Composite as tech and mega-cap names took a modest step back after an impressive rally. The broader market, however, fared relatively well, and the S&P 500 Equal Weighted Index finished with a modest gain.

Oil prices are flattish this morning after a bounce yesterday as the state of U.S.-Iran negotiations remains tenuous, with Vice President JD Vance set to travel to Pakistan for the next round of talks.

While the market will still react to geopolitical swings, the recovery of all losses since the start of the Iran war suggests investors are largely looking past the conflict, as a ceasefire seems the most feasible option for all parties involved. Attention now shifts to earnings season, where solid results and steady guidance from several Dow components reporting today are helping maintain growth projections and reinforce the view that earnings momentum is continuing to build.

On the macro front, the Senate will hold a confirmation hearing for Fed Chairman Kevin Warsh this morning, according to CBS News.

In corporate news:

• Apple (AAPL 272.50, -0.55, -0.2%) announced that Tim Cook will become executive chairman of the board of directors and John Ternus, senior vice president of Hardware Engineering, will become the next CEO, effective on September 1, 2026.
• Amazon (AMZN 255.84, +7.57, +3.1%) has agreed to invest up to $25 billion in Anthropic as part of an AI infrastructure deal, according to CNBC. 
• 3M (MMM 147.00, -4.40, -2.9%) beat EPS expectations by $0.16, reported revenues in-line, and reaffirmed its FY26 EPS and revenue guidance.
• UnitedHealth (UNH 346.27, +22.95, +7.1%) beat EPS expectations by $0.65, beat revenue expectations, and guided Fy26 EPS above consensus.
• Reviewing overnight developments:

Equity indices in the Asia-Pacific region had a mostly higher showing on Tuesday. Japan's Nikkei: +0.9%, Hong Kong's Hang Seng: +0.5%, China's Shanghai Composite: +0.1%, India's Sensex: +1.0%, South Korea's Kospi: +2.7%, Australia's ASX All Ordinaries: UNCH.

In news:

• South Korea's exports were up 49.4% through the first 20 days of April with chip exports jumping 182.5%.
• China Securities Journal noted that measures aimed at stabilizing the stock market have gained traction.
• Fitch expects China's fiscal deficit to remain at 7.3% of GDP in 2026.
• New Zealand's CPI remained above target for the second consecutive quarter in the reading for Q1.

In economic data:

• New Zealand's Q1 CPI 0.9% qtr/qtr (expected 0.8%; last 0.6%); 3.1% yr/yr (expected 2.9%; last 3.1%). Q1 NZIER Business Confidence -4% (last 48%) and Q1 NZIER Capacity Utilization 91.2% (last 89.8%)

Major European indices trade with modest gains. STOXX Europe 600: +0.2%, Germany's DAX: +0.3%, U.K.'s FTSE 100: -0.1%, France's CAC 40: +0.2%, Italy's FTSE MIB: +0.3%, Spain's IBEX 35: +0.5%.

In news:

• European Central Bank policymaker Rehn said that there is no set rate path and that the current starting point is "reasonably balanced."
• Meanwhile, ECB President Lagarde said that the central bank's response will be determined by the duration of the energy shock.
• French Prime Minister Lecornu is seeking EUR4 bln in spending cuts.
• Germany's ZEW institute noted that expectations are slipping into negative territory.

In economic data:

• Eurozone's April ZEW Economic Sentiment -20.4 (expected -12.7; last -8.5)
• Germany's April ZEW Economic Sentiment -17.2 (expected -6.7; last -0.5) and ZEW Current Conditions -73.7 (expected -70.0; last -62.9)
• U.K.'s February three-month employment change 25,000 (last 84,000). February Average Earnings Index + Bonus 3.8% yr/yr (expected 3.6%; last 4.1%). February Unemployment Rate 4.9%(expected 5.2%; last 5.2%) and March Claimant Count change 26,800 (expected 21,400; last 17,100)
• Spain's February trade deficit EUR3.30 bln (last deficit of EUR4.00 bln)
• Swiss March trade surplus CHF3.177 bln (last surplus of CHF4.105 bln)

[BRIEFING.COM] The stock market started the week on a subdued note following last week's push to record highs, as mega-cap and tech names saw some profit-taking amid renewed geopolitical uncertainty.

The S&P 500 (-0.2%), Nasdaq Composite (-0.3%), and DJIA (flat) spent the session drifting modestly below their flatlines as investors reacted to mixed reports regarding the state of the next round of talks between the U.S. and Iran.

Stocks opened modestly lower in reaction to weekend developments that seemingly put the talks on hold, and moved to session lows shortly before midday after President Trump told Bloomberg that it is "highly unlikely" he will extend the current ceasefire if a deal is not reached this week.

However, the major averages quickly rebounded from their worst levels amid reports that delegates from both the U.S. and Iran will travel to Pakistan to engage in talks this week.

Crude oil futures settled today's session $5.18 higher (+6.2%) at $89.40 per barrel. While the rise in oil prices coincided with a pullback in select areas of the market, particularly recent leaders, crude remained below the $90 per barrel mark, signaling a degree of stabilization.

Sector strength was mixed and variable throughout the session, though weakness across mega-cap and tech-heavy sectors kept the major averages from making a move into positive territory.

The communication services sector (-1.4%) was the worst performer, as Meta Platforms (META 670.91, -17.64, -2.56%) and Alphabet (GOOG 335.40, -4.00, -1.18%) provided poor mega-cap leadership, while Netflix (NFLX 94.83, -2.48, -2.55%) declined further and failed to attract buy-the-dip interest following disappointing Q2 guidance in last week's earnings report.

The consumer discretionary sector (-0.7%) was another laggard, with Tesla (TSLA 392.49, -8.13, -2.03%) moving lower ahead of its own earnings release this week, while cruise lines and other oil-sensitive names retreated today.

Meanwhile, the information technology sector (flat) made a steady move higher throughout the afternoon, which saw it finish flat for the day. Intel (INTC 65.70, -2.80, -4.09%) was a notable laggard, but the PHLX Semiconductor Index (+0.5%) still managed a modest gain.

Elsewhere in the sector, computer hardware names such as Hewlett Packard Enterprise (HPE 27.82, +1.38, +5.22%) and Dell (DELL 204.25, +7.70, +3.92%) outperformed, while solid gains across software stocks pushed the iShares GS Software ETF 1.4% higher.

Additionally, Apple (AAPL 273.05, +2.82, +1.04%) was a mega-cap standout.

Late improvements to the information technology sector helped both the major averages and the Vanguard Mega Cap Growth ETF (-0.4%) finish considerably improved from their worst levels, though it was not enough to extend the Nasdaq Composite's winning streak, which was snapped after an impressive 13 sessions.

Elsewhere, strength was mixed, with five S&P 500 sectors posting modest gains.

The materials sector (+0.6%) captured the widest gain with Steel Dynamics (STLD 209.35, +9.03, +4.51%) finishing as one of the S&P 500's top movers ahead of its earnings release, while the financials sector (+0.3%) was supported by broad strength.

The S&P 500 Equal Weighted Index (+0.3%) outperformed the market-weighted S&P 500 (-0.2%), reflecting solid participation under the surface.

All told, it was a relatively quiet Monday session. There was some renewed geopolitical uncertainty coming out of the weekend, but the market's muted reaction suggests investors continue to view a more durable ceasefire as the base case, despite elevated near-term uncertainty. Growth stocks took a modest step back after a strong rally, but the major averages remain just below recent record highs. While the market continues to monitor U.S.-Iran developments, attention is set to shift more firmly toward earnings as reporting season ramps up this week, with investors looking for continued growth and forward guidance to sustain the recent momentum.

There was no economic data of note today. 

U.S. Treasuries began the week on a slightly lower note with the market showing limited concern over a weekend speedbump on the path to a peace deal with Iran. The 2-year note yield settled up two basis points to 3.72%, and the 10-year note yield finished unchanged at 4.25%. 

• Russell 2000: +12.5% YTD
• S&P Mid Cap 400: +11.0% YTD
• Nasdaq Composite: +5.0% YTD
• S&P 500: +3.9% YTD
• DJIA: +2.9% YTD