Overview
- Brent crude climbed above $90–$91 after hopes for an extension of the temporary U.S.–Iran ceasefire faded, reviving concerns about supply through the Strait of Hormuz.
- The yield on the 10‑year U.S. Treasury rose to about 4.72%–4.73%, a move market reports linked to the jump in oil and renewed inflation worries.
- Major U.S. indexes slipped roughly 0.5% on Monday with the Dow and S&P the weakest as investors took profits and reassessed rate risks.
- Chip and AI‑related stocks outperformed, with names such as SanDisk and Micron rallying as investors continued to price strong AI demand despite broader caution.
- Near‑term market direction now hinges on diplomatic developments over the ceasefire, oil flows through the Strait of Hormuz, incoming Fed minutes and Jackson Hole remarks, and upcoming big‑box retail earnings.