Key headlines from global financial media overnight and this morning include:
1. High-level US-Iran talks, the highest in decades, yielded no breakthrough but dialogue continues. 2. New York Fed report shows the Fed's paper losses on bond holdings reduced to $844.2 billion last year. 3. NVIDIA denies acquisition rumors; Dell and HP, which surged during the session, fell in after-hours trading. 4. Oracle stock surged 12%, leading a rebound in software stocks. 5. US Navy blockades Iranian ports following failed peace talks, pushing oil prices toward $100 per barrel. 6. Fed Chair nominee Warsh submits required financial disclosure documents ahead of hearing.
High-level US-Iran talks, the highest in decades, yielded no breakthrough but dialogue continues. After a nearly sleepless and tense night in Islamabad, Iranian and US officials concluded their highest-level talks in decades without a breakthrough. However, sources familiar with the negotiations indicated that dialogue between the two sides is ongoing. On Monday, US President Trump stated that Iran "called this morning" and said "they want to make a deal." A US official, commenting on Trump's remarks, confirmed that contacts between the US and Iran continue, with progress being made towards an agreement.
New York Fed report shows the Fed's paper losses on bond holdings reduced to $844.2 billion last year. The New York Federal Reserve reported on Monday that the paper losses on the Federal Reserve's massive bond holdings decreased last year compared to 2024. The paper loss for the 2025 holdings was $844.2 billion, following an unrealized loss of $1.06 trillion in 2024. This data on unrealized losses was disclosed with the release of the annual report for the System Open Market Account (SOMA). SOMA is the Fed's huge portfolio holding cash, bonds, and other assets.
NVIDIA denies acquisition rumors; Dell and HP, which surged during the session, fell in after-hours trading. NVIDIA denied a report from the website SemiAccurate which claimed that NVIDIA is seeking to acquire a large company, a move that would "reshape the landscape of the personal computer industry." The website reported that negotiations for this deal have been ongoing for over a year. This report caused shares of PC manufacturers Dell Technologies Inc. and HP Inc to rise during Monday's trading session. A spokesperson for NVIDIA stated, "The media report is inaccurate; NVIDIA is not in discussions to acquire any PC manufacturer."
Oracle stock surged 12%, leading a rebound in software stocks. Oracle shares surged 12%, leading a recovery in software stocks that had previously suffered heavy losses due to concerns about the impact of artificial intelligence. Adobe rose approximately 6%, Salesforce gained 5%; ServiceNow, HubSpot, and Workday all increased over 7%. Cybersecurity stocks also moved higher, with CrowdStrike, Tenable, and SentinelOne all climbing over 6%. Oracle's stock performance marked its best single-day gain since last September. This rebound was fueled by rising investor expectations that the US and Iran might reach a peace agreement.
US Navy blockades Iranian ports following failed peace talks, pushing oil prices toward $100 per barrel. On Monday, crude oil prices rose as the US Navy imposed a blockade on Iranian ports over the weekend after peace talks failed. US crude futures for May delivery rose over 2%, settling at $99.08 per barrel. International benchmark Brent crude futures for June delivery increased over 4%, settling at $99.36 per barrel. The blockade took effect at 10 AM Eastern Time on Monday. US Central Command stated that it would not impede the passage of vessels traveling to and from non-Iranian ports.
Fed Chair nominee Warsh submits required financial disclosure documents ahead of hearing. Two informed sources revealed on Monday that Federal Reserve Chair nominee Kevin Warsh has submitted the required documents to the Senate. The submission of the financial disclosure documents moves Warsh a step closer to a Senate hearing. A hearing originally scheduled for this week was postponed due to delays in the document process. Warsh's wife is Jane Lauder, an heir to the Estée Lauder fortune, with an estimated net worth of $19 billion according to Forbes. One of the sources indicated that the Senate still needs to receive Warsh's responses to questions from the Senate Banking Committee. Once this questionnaire is received, the Senate can formally issue a hearing notice. The hearing could take place as early as next week.
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