Finance

Oil prices moved slightly higher but remained relatively stable as the U.S. and Iran agreed to pause military hostilities and pursue diplomatic talks. This temporary ceasefire has eased immediate concerns regarding shipping disruptions through the critical Strait of Hormuz, providing a reprieve for global energy supply chains.

In a significant index rebalancing, Google parent company Alphabet officially became one of the 30 stocks in the Dow Jones Industrial Average on Monday. Alphabet replaced telecommunications giant Verizon in the blue-chip index, reflecting a broader shift in the market's composition toward dominant technology and media players.

U.S. Treasury yields trended upward as markets reacted to a new "hawkish hold" stance from the Federal Reserve under Chair Kevin Warsh. Investors are increasingly pricing in the possibility of interest rate hikes later this year following recent inflation data that reached a three-year high.