Closing Bell: Stocks Sink as Oil Rises, SpaceX Satellites Deploy, Nvidia Plans Big Buyback

Markets moved lower as oil prices moved higher Monday with little progress in U.S.-Iran negotiations. 

The S&P 500 (SPX) was down 0.77%, and the Dow Jones Industrial Average ($DJI) was down 0.67%. The tech-heavy Nasdaq-100 (NDX) fell 1.08%, while the small-cap Russell 2000 (RUT) fell 0.69%. 

With strong AI spending and U.S. WTI oil up about 1% to roughly $93 per barrel, inflation remained in focus. Oil prices fell from session highs midday on Monday after an unconfirmed Axios report on negotiations. President Trump on Saturday rejected Iran's proposal “to reopen the Strait of Hormuz within a week if the U.S. meets certain conditions,” according to an AP report. 

Yields rose again on Monday as expectations for rate hikes continue to rise. The benchmark 10-Year Treasury yield rose 5 basis points to settle near 5.24%, its highest level since 2007. See Hincks: Iran Peace Hopes Curb Crude Oil, "Add Perspective" to Historic Yield Spike 

Three stocks to watch from Monday’s market action: 

Nvidia (NVDA) made two massive announcements: a record-setting $150 billion stock buyback authorization and the launch of Open Agent Safety Platform, with open-source tools to manage autonomous AI systems. Nvidia shares rose 1.7%. See NVDA 'Puts Money Where Its Mouth Is,' Creates Open Agent Safety Platform 

MongoDB Inc. (MDB) shares plunged more than 18% after President & CEO CJ Desai abruptly resigned to join Meta Platforms (META) as chief enterprise platform officer. Meta shares were down nearly 5% Monday. See META Muse Strengthens AI Profit Path, Trust in Platform Raises Next Roadblock 

The Space Exploration Technologies Corp (SPCX) Starship made it into orbit and safely deployed 26 Starlink V3 satellites. Share of SpaceX fell 2%. 10-Year Treasury Yields Taps 5.2%, NVDA $150B Buyback Plan, SPCX Starship Launch 

For this week’s economic and earnings calendar, read Week Ahead: Watch Jobs Data, GDP, and Micron Technology (MU) Earnings and Make-or-Break Week for Bond Yields as Markets Await PCE, Jobs Data. Also see the Week in Review: Higher Rates Weigh on Utilities, Financials; Tech Up. 

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