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US Stock Market Highlights: Wall Street ended lower on Monday as renewed tensions in the Middle East rattled sentiment, even as investors continued to bet on an eventual diplomatic breakthrough between the US and Iran.The S&P 500 slipped around 0.2%, while the tech-heavy Nasdaq Composite fell about 0.3%, snapping its 13-day winning streak after logging three consecutive record closes last week. The Dow Jones Industrial Average was largely flat, edging marginally lower, while the small-cap Russell 2000 bucked the trend to rise 0.5% and hit a fresh intraday high.The cautious close followed a chaotic weekend that reignited geopolitical risks. Iran signalled that the Strait of Hormuz would not remain open during the ongoing ceasefire with Lebanon, while the US seized an Iranian vessel off the coast of Oman. The developments cast fresh doubt over already fragile peace talks.: Closing bell | Nasdaq’s 13-day winning streak ends; S&P 500 and Dow slip as Iran tensions resurface

Bank of America has warned that investors may be underestimating risks from the Iran conflict, even as markets trade near pre-war levels.

According to Claudio Irigoyen, equities appear to be pricing in a quick resolution, similar to past trade war dynamics, where escalation is followed by swift de-escalation.

However, he cautioned that this assumption may be flawed, as de-escalation in the current conflict is no longer a unilateral decision, raising the risk that markets are overlooking potential downside.

Chip stocks continue to show strength, with the iShares Semiconductor ETF on track for a 14th straight day of gains—marking its second-longest winning streak on record.

The rally comes even as the Nasdaq Composite and Nasdaq-100 risk snapping their 13-day streaks unless they turn positive by the close.

Meanwhile, large-cap tech tracked by the Technology Select Sector SPDR Fund is hovering around flat, while software stocks—via the iShares Expanded Tech-Software Sector ETF—are outperforming, rising over 1% and extending their own winning streak.gold and silver declined on Monday as oil prices moved higher amid persistent tensions linked to the Iran conflict.gold fell about 1% to near $4,820 per ounce, while silver dropped roughly 2%.Elevated crude prices have raised concerns about sticky inflation, potentially forcing central banks to delay rate cuts—a scenario that typically weighs on non-yielding assets like precious metals.Deutsche Bank upgraded Ecolab to “buy,” citing its early and aggressive price increases to counter rising energy costs.Analyst David Begleiter said the company’s pricing actions, combined with a recent pullback in oil prices, could expand margins and drive earnings upside in the second half of the year.The firm maintained its $325 price target, implying about 18% upside, with shares of Ecolab last trading modestly higher.

Most emerging-market currencies weakened Monday after Iran closed the Strait of Hormuz again and President Donald Trump sent mixed signals about progress on a peace deal with the Islamic Republic.

Currencies from Mexico and Brazil edged lower, while the Chilean peso dropped 0.4% with oil prices spiking after Trump said an extension to the ceasefire that expires on Wednesday is unlikely, even as he sent negotiators to Pakistan. The Korean won and South African rand led the decline.

A rally in oil drove stocks lower as a turbulent weekend in the Middle East cast doubt on prospects for peace talks between the US and Iran before their fragile ceasefire deal expires.

Equities dropped from all-time highs, with the S&P 500 halting a five-day winning streak as President Donald Trump said it’s “highly unlikely” he would extend the two-week truce if an agreement is not reached before it ends, while noting the Strait of Hormuz would remain blocked until an accord is finalised. Brent crude hovered near $95. Treasuries and the dollar wavered.Tesla is entering earnings as the laggard among the “Magnificent Seven,” even as the broader tech rally gathers pace.The stock has gained just 11% since late March—making it the weakest in the group—and remains down 12% for the year, trailing peers like Microsoft and Meta. Only Apple is trading higher on the day among the megacaps.Despite recently breaking above a long-term downtrend, Tesla has struggled to hold above its 200-day moving average, highlighting ongoing technical uncertainty.The real catalyst now is earnings, with Tesla set to become the first Magnificent Seven company to report this season.Morgan Stanley has lowered its outlook for gold, citing weaker-than-expected performance since the onset of the US-Israeli conflict with Iran and shifting macroeconomic dynamics.The brokerage now expects gold prices to rise to $5,200 per ounce in the second half of 2026, down from its earlier bull-case estimate of $5,700. The precious metal is currently trading around $4,830.“We remain constructive on gold but with less upside than before,” commodities strategist Amy Gower and her team said in a note on Monday.A key factor behind the downgrade is the risk of elevated energy prices feeding into core inflation, which could reduce the likelihood of aggressive rate cuts by the US Federal Reserve.“With the conflict triggering an energy supply shock that has reduced hopes for lower Fed rates, it is not surprising that gold has struggled to work as a safe haven this time,” the note said.Gold has declined about 8.5% since the start of the conflict, with analysts attributing the sharp correction in part to its strong run-up ahead of the geopolitical escalation.Despite the near-term pressure, Morgan Stanley still expects the Fed to deliver two rate cuts this year—higher than the central bank’s current projection of one cut. The brokerage said such a scenario could support gold prices, particularly through ETF flows that are sensitive to shifts in monetary policy.CNBCShares of Ulta Beauty could see an upside ahead as Jefferies upgraded the cosmetics retailer to “buy” from “hold,” citing improving demand trends and a stronger strategic positioning.The brokerage also raised its price target on the stock to $700 from $635, implying a potential upside of 26.5% from Friday’s closing levels.Jefferies said its confidence in Ulta’s revenue durability has strengthened, supported by a broad-based recovery in the beauty segment and renewed consumer interest in makeup.US pharma major Eli Lilly on Monday announced it will acquire biotechnology firm Kelonia Therapeutics for up to $7 billion, in a move aimed at strengthening its oncology pipeline and expanding its footprint in advanced cancer therapies.Under the terms of the deal, Kelonia’s shareholders will receive an upfront cash payment of $3.25 billion, with additional payouts tied to the achievement of specific clinical and commercial milestones.The acquisition gives Eli Lilly access to Kelonia’s gene therapy platform and a range of next-generation cancer treatments, bolstering its existing portfolio that includes therapies such as Jaypirca and breast cancer drug Verzenio.Shares of Eli Lilly slipped about 0.4% following the announcement, paring earlier gains that were driven by reports of a potential deal.The announcement comes hours after a report suggested that Eli Lilly was in advanced talks to acquire Kelonia for more than $2 billion, signalling that the final deal value significantly exceeded initial expectations.Donald Trump said a senior US delegation is heading to Islamabad for talks with Iran, as efforts to revive negotiations intensify ahead of a looming ceasefire deadline, reported NY Post.According to Trump, Vice President JD Vance, special envoy Steve Witkoff and Jared Kushner are expected to arrive in Pakistan later Monday. However, the White House has not officially confirmed the visit.Meanwhile, Iran has not committed to fresh negotiations, with its foreign ministry indicating there are no immediate plans for another round of talks. The uncertainty comes as the current ceasefire is set to expire soon, raising the risk of further escalation.Dow futures staged a sharp turnaround, turning positive after erasing an earlier drop of as much as 550 points, signalling shifting market sentiment.

Crypto-linked stocks pulled back in premarket trading even as Bitcoin and Ethereum edged higher to start the week, trading near $75,000 and $2,300, respectively.Shares of Bitmine fell more than 3%, while Circle dropped nearly 3%. Coinbase and Strategy also declined about 1% each.The pullback follows a strong run for crypto, with Bitcoin recently topping $78,000 for the first time since February and bitcoin ETFs logging their largest single-day inflows since January, at roughly $664 million.Meanwhile, Strategy disclosed it purchased $2.5 billion worth of bitcoin last week.US stock futures slipped on Monday (April 20), signalling a cautious start to the week as a sharp escalation in US-Iran tensions over the weekend rattled investor sentiment and clouded prospects for a near-term peace deal.Dow Jones Industrial Average futures fell as much as 258 points, or about 0.5%, though they later pared losses to around 0.4%. Futures tied to the S&P 500 and Nasdaq 100 also declined roughly 0.4%–0.5%, indicating broad-based weakness across benchmarks.The risk-off mood follows a chaotic geopolitical turn. US President Donald Trump said Washington had fired on and seized an Iranian-flagged cargo ship in the Gulf of Oman, adding that the vessel was under US Treasury sanctions and is now in “full custody.” The move came after Iran declined to participate in another round of US-led peace talks in Pakistan.The earnings season is set to intensify, with 88 companies from the S&P 500 scheduled to report results in the coming week.Key names include Tesla and Boeing, alongside United Airlines and chipmaker Intel.The reporting season has started on a strong note, with data from FactSet showing that about 86% of the roughly 50 companies that have reported so far have beaten earnings expectations.NewsLive TVMarketPopular CategoriesCalculatorsTrending NowLet's Connect with CNBCTV 18Network 18 Group :©TV18 Broadcast Limited. All rights reserved.