Traders work on the floor of the New York Stock Exchange (NYSE) in New York City.

Jeenah Moon | Reuters

The S&P 500 was little changed on Monday after the major averages posted a winning week and as investors looked ahead to a busy week of earnings results and inflation data.

The broad market index climbed 0.1%, while the Dow Jones Industrial Average outperformed, trading up 192 points, or about 0.4%. The Nasdaq Composite, however, was down 0.1%.

The Nasdaq was weighed down by a 3% drop in shares of Micron Technology. The move came as investors assessed increasing competition from China's CXMT, which reported progress on a new chip structure. In contrast, the Dow was boosted by a 3% jump in Salesforce after the name received a double upgrade at Bank of America.

Meanwhile, oil prices rose after President Donald Trump announced an "energy ceasefire" between Russia and Ukraine over the weekend, then Ukrainian President Volodymyr Zelenskyy said Moscow had already violated it. West Texas Intermediate futures advanced 2% to around $93 per barrel. Brent crude gained 2% to trade at $106 per barrel.

Trump also told reporters he was considering joining Saudi Arabia in its fight against Tehran-backed Houthis in Yemen after another deadly attack on Riyadh's international airport. The remarks raised the prospect of escalating tensions in the region.

Wall Street is coming off a winning week for the major averages, as a rally in tech stocks helped investors shrug off higher oil prices and yields. The Dow and S&P 500 each posted their second positive week in three, while the Nasdaq netted its fourth straight week of gains.

Investors hope the third-quarter earnings season will help stocks power through the Middle East turmoil. By all estimations, the incoming results are expected to be strong. According to FactSet's John Butters, the S&P 500 is set to post 29.6% earnings growth in the quarter. That would be the fourth straight quarter that the broader index posts above-25% earnings growth, thanks to the strength of the AI data center buildout.

But it's what managers say that will matter more to investors, given the uncertainty around how businesses and their customers are contending with higher fuel and borrowing costs.

"Investors have kind of narrowed in on some of the important aspects," said Brian Leonard, portfolio manager of Keeley Gabelli Small Cap Dividend Fund (KSDIX). "Can this company withstand what's happening? Pass along, continue to grow margins, and the future is going to be better than the most recent past."

The reporting season will ramp up in earnest this week with the big banks, with Bank of America, Citigroup, Goldman Sachs, JPMorgan Chase, Morgan Stanley and Wells Fargo all expected to post results this week.

Key inflation data is due out this week as well, with the September consumer and producer price indexes due out Wednesday and Thursday, respectively.

This week also marks four years since the start of the S&P 500's bull run after the index notched a closing low of 3,577.03 in October 2022. Since then, the index has more than doubled.

— CNBC's Terri Cullen contributed to this report.

Stocks open little changed

U.S. equities were relatively unchanged on Monday morning.

The S&P 500 rose 0.1% just after 9:30 a.m. ET, while the Dow Jones Industrial Average gained 83 points, or about 0.2%. The Nasdaq Composite was 0.1% lower.

— Sean Conlon

Starbucks denies Chipotle acquisition

Starbucks said on Monday that it is not considering a takeover of Chipotle Mexican Grill, with a Starbucks spokesperson telling CNBC that the company is "not buying Chipotle."

Shares of the coffee giant were more than 1% higher in premarket trading following the denial, while Chipotle shares were down more than 2%.

CMG, 1-day

— Amelia Lucas and Sean Conlon

Bank of America double upgrades Salesforce

Salesforce Inc. signage on the floor of the New York Stock Exchange (NYSE) in New York, US, on Monday, April 20, 2026.

Michael Nagle | Bloomberg | Getty Images

Salesforce could get a much-needed boost as it integrates artificial intelligence into its businesses, according to Bank of America.

The bank double upgraded the stock to buy from underperform. It also raised its price target to $285 from $160, which is 24% above the level at which shares last closed.

"Large enterprises (more than [small to medium-sized businesses] are unlikely to replace platforms that house their business logic, data, workflows and compliance frameworks," analyst Tal Liani said Monday. "If anything, AI should deepen dependence on these platforms."

Shares of Salesforce have pulled back about 14% in 2026, largely due to investors' fears that widening AI adoption could diminish demand for software tools.

CRM, year-to-date

CNBC Pro subscribers can read more here.

— Liz Napolitano

2 Hours Ago

Micron dips on Chinese memory advances

A man walks past the logo of Micron at the company building, in Taoyuan on September 17, 2026.

I-hwa Cheng | Afp | Getty Images

Micron is down more than 2% in premarket trading on Monday following the announcement of memory chip advances by Chinese memory giant ChangXin Memory Technologies (CXMT).

ChangXin president Cao Kanyu said at a conference over the weekend that his company is planning to deliver a memory product, the South China Morning Post reported Monday. The product is next-generation DRAM memory and competes with products from the big U.S. and South Korean memory makers, according to Asian media reports.

— Tobias Burns

2 Hours Ago

First Solar, Biogen and Iren among the stocks making premarket moves

Check out the companies making headlines before the bell:

First Solar – Shares gained 2.4% after Truist upgraded the solar name to buy from hold. The bank is confident in the growth and strong demand in the solar market over the coming years, as well as First Solar's pricing power in the industry.
Biogen – Shares of Biogen rose 2% after analysts at JPMorgan upgraded the biotech name to overweight from neutral. The firm cited several clinical readouts in 2027 as catalysts for Biogen.
Iren — Australia-based Iren popped 5.3% Monday after The Information reported Sunday that the company, which owns and operates with 100% renewable energy, has quietly signed a multiyear cloud computing deal with Anthropic.

Read here for the full list.

— Paulina Likos

2 Hours Ago

Mattel ticks higher after Seaport upgrade

Mattel signage is displayed during the New York Toy Fair in New York City, U.S., Feb. 17, 2026.

Jeenah Moon | Reuters

Mattel shares were up more than 1% in the premarket after Seaport Research Partners upgraded the toymaker to buy from neutral amid reports that other companies are interested in taking over the company.

"With speculation swirling, we think investors are taking a closer look at toy stocks and realizing that there's underappreciated value. We think investors are in the process of rediscovering the toy industry's stability, recession-resistance, and strong free cash flow generation. We think all toy stocks, including MAT, will experience multiple expansion as a result," analyst Gerrick Johnson wrote.

MAT, 1-day

— Fred Imbert

4 Hours Ago

Oil prices rebound

An aerial view shows storage tanks at the sprawling BP refinery in Whiting, Indiana, Sept. 8, 2026.

Scott Olson | Getty Images

Oil prices reversed course Monday, moving higher amid skepticism over U.S. President Donald Trump's so-called 'energy ceasefire' between Ukraine and Russia.

Futures for international benchmark Brent crude for December delivery were last seen 0.95% higher at $105.68 a barrel. U.S. West Texas Intermediate futures for November ticked 0.86% higher to $92.64 per barrel. Prices on both benchmarks had fallen by around 1.5% earlier in the session.

Brent crude.

6 Hours Ago

European carmakers move higher on EU-China exports pact

Europe's carmakers moved higher Monday morning after the EU and China reached an agreement to cut the number of hybrid cars China exports to the bloc.

The Stoxx Europe 600 Automobiles and Parts Index was 0.96% higher by 3:47 a.m. E.T.

Stellantis.

Shares in French carmaker Renault were up almost 3.1%, while multinational Stellantis, which owns Jeep, Chrysler, Maserati and Peugeot, added 2.7%.

French automotive parts suppliers Valeo and Forvia also advanced 2% and 1.2%, respectively.

— Hugh Leask

6 Hours Ago

Asia-Pacific markets close mostly lower as Mideast tensions dent sentiment

South Korea's Kospi fell 3.65% to 6,384.24 in choppy trade, while the small-cap Kosdaq dropped 4.83% at 849.19

Hong Kong's Hang Seng index was marginally higher in its last hour of trade on Monday, while mainland China's CSI 300 closed 0.68% lower at 4,287.98.

Australia's benchmark S&P/ASX 200 gained 0.76% at 8,783.20.

Markets in Japan were closed for a holiday.

— Justina Lee

6 Hours Ago

Volkswagen deliveries slide as Chinese demand plunges

The logo of German car maker Volkswagen (VW) is seen on the front of a Volkswagen ID. Buzz Pro electric van at the International Motor Show (IAA) in Munich, southern Germany, on September 5, 2023.

Christof Stache | Afp | Getty Images

Volkswagen said it delivered 6 million vehicles in the first nine months of the year, down 9% from the same period in 2025. The decline steepened in the third quarter, when deliveries tumbled 14.3% year-on-year.

The fall was driven mainly by plunging demand in China, where third quarter sales dropped 38.5% year-on-year to 405,800.

In North America, third-quarter deliveries fell 5.8% to 232,000 vehicles. Deliveries in western Europe slipped 2.8% to 780,000, but central and eastern Europe bucked the trend, rising 1.4% to 135,000.

"The sharp decline in the overall market in China remains an industry-wide challenge," said Martin Sander, a member of Volkswagen's extended executive committee for sales.

Volkswagen.

Sander said VW was seeing a "significantly accelerated trend towards all-electric vehicles" in its home market. Higher fuel prices have helped drive the shift, he added, with all-electric models now making up about 40% of Volkswagen's European order book.

Shares in the German car giant were up 1.4% in early dealmaking.

— Hugh Leask

7 Hours Ago

European equities open higher

European stock markets opened higher on Monday, with most regional sectors and major bourses moving higher shortly after 8:00 a.m. in London (3:00 a.m. E.T.).

The pan-European Stoxx 600 gained 0.45% shortly after the opening bell.

Europe's banks led gains, adding 1.39%, while car makers notched a 1.11% gain in early dealmaking. Utilities were up 0.94%. Oil and gas companies led losses, shedding 0.30%, with tech stocks off by 0.28%.

Italy's FTSE MIB led the continent's bourses, advancing 1.21%. Germany's DAX gained 0.40%, as the U.K.'s FTSE 100 rose 0.38%, with France's CAC 40 up 0.33%.

— Hugh Leask

8 Hours Ago

European stocks set to start the new trading week higher

Stock prices in the reception of the Borsa Italiana, Italy's stock exchange operated by Euronext NV, in Milan, Italy, on Wednesday, April 23, 2025.

Francesca Volpi | Bloomberg | Getty Images

European stocks are set to start the new trading week in positive territory.

Stoxx 50 futures were up 0.65%, with the continent's main bourses all expected to open Monday's session higher.

Italy's FTSE MIB is set to lead gains, rising 0.68%. The German DAX is seen opening 0.58% higher, while France's CAC 40 is seen up 0.51%. The U.K.'s FTSE 100 is seen 0.32% higher ahead of the market open.

— Hugh Leask

10 Hours Ago

South Korean won hits two-year high against the greenback

The South Korean won appreciated to a two-year high against the greenback on Monday, hitting 1,332.88 per dollar.

According to Bloomberg, heavy selling of the greenback by local companies as well as on lower oil prices helped lift the won. The currency has gained 7.4% so far this year against the U.S. dollar.

Currency traders will keep a watch on the annual meetings of the International Monetary Fund and World Bank this week, with the Bank of Korea Governor Shin Hyun Song in attendance.

— Justina Lee

11 Hours Ago

Thailand pledges to cut budget deficit below 3% of GDP in coming years

Thailand will narrow its budget deficit to below 3% of its gross domestic product within a few years, Finance Minister Ekniti Nitithanprapas said, as the government leans on private investment to drive growth with public debt edging toward its official ceiling.

"I am trying to lower our fiscal deficit year by year," Nitithanprapas said in an interview with CNBC on the sidelines of the International Monetary Fund and World Bank annual meetings in Bangkok.

The country's deficit for the current fiscal year is reportedly pegged at 4.3%, while public debt stood at nearly 68% of GDP in August, against a 70% ceiling set under Thailand's fiscal discipline framework. The finance minister has indicated that the government could raise the cap if needed.

Nitithanprapas disagreed that Thailand risked testing the limits of fiscal sustainability and a credit-rating downgrade, saying that the government was watching rising global bond yields and will stick to its medium-term fiscal framework.

He said Thailand will use public-private partnerships to push investment, rather than relying on state spending alone.

— Anniek Bao

11 Hours Ago

Foxconn shares fall as U.S. launches patent infringement probe

Foxconn Hon Hai Technology Group signage during the Nvidia GPU Technology Conference (GTC) in San Jose, California, US, on Thursday, March 20, 2025.

David Paul Morris | Bloomberg | Getty Images

Foxconn shares fell 1.81% in Taiwan on Monday, following news that the U.S. has launched a patent infringement probe against several companies, including Foxconn.

The U.S. International Trade Commissions launched a Section 337 investigation against companies regarding certain vertical power delivery systems, related components and computing devices incorporating such systems.

"The investigation is based on a complaint filed on behalf of Vicor Corporation," it said in a statement.

Foxconn posted a 47% jump in its third-quarter revenue from a year earlier, exceeding market estimates, thanks to strong AI-related demand.

Taiwan's Foxconn, also known as Hon Hai Precision Industry, is the world's largest contract electronics manufacturer.

— Justina Lee

11 Hours Ago

Oil falls after Trump declares ‘energy ceasefire’ between Russia and Ukraine

Oil fell Monday on optimism of improved supplies after President Donald Trump said that Russia and Ukraine will not be targeting each other's energy facilities, while Iran reached out to Saudi Arabia after Houthi attacks against the kingdom.

Futures for international benchmark Brent crude for December delivery dropped 1.65% at $102.99 a barrel. U.S. West Texas Intermediate futures for November declined 1.92% at $90.09 per barrel.

"Effective immediately, there is an ENERGY CEASEFIRE in the War between Russia and Ukraine. Both parties have agreed. Do not break it!" Trump said in a social media statement.

Ukrainian President Volodymyr Zelenskyy said in a post on social media that "Ukraine supports the ceasefire, and it is important that Russia support it as well."

Prospects of more Russian energy hitting markets after a deal with the U.S. have also risen after Trump said Friday that Russia will supply more than 4 million tons of diesel to the global market under a deal he struck with Putin during a phone call.

— Justina Lee

12 Hours Ago

Mainland China's CSI 300 and Hong Kong's Hang Seng gain

Mainland China and Hong Kong's benchmark indexes rose Monday.

Hong Kong's Hang Seng index advanced 0.98% , while mainland China's CSI 300 was 0.38% higher.

The gains in Hang Seng were led by basic materials and healthcare sectors, which rose 2.12% and 1.88% respectively.

— Justina Lee

14 Hours Ago

South Korea's Kospi opens over 1% lower

Asia-Pacific markets opened mixed on Monday.

South Korea's Kospi was down 1.34%, while the small-cap Kosdaq declined 0.67%

Australia's S&P/ASX 200 added 0.61% in its first hour of trade.

Japan markets are closed for a holiday.

— Lee Ying Shan

14 Hours Ago

Asia-Pacific markets set to rise after Wall Street's winning week

Asia-Pacific markets were set to open higher Monday, with focus on the conflict between the Iran-backed Houthis and Saudi Arabia, and its potential impact on energy supplies.

Futures for Hong Kong'sHang Seng index stood at 24,363, higher than the index's last close of 24,211.35.

Australia's S&P/ASX 200 added 0.25% in its first hour of trade.

Japan markets are closed for a holiday.

— Lee Ying Shan

15 Hours Ago

Trump says he is ‘going to look at’ joining Saudi Arabia

US President Donald Trump speaks during a campaign rally at F&M Bank Arena in Clarksville, Tennessee on October 10, 2026.

Mandel Ngan | Afp | Getty Images

President Donald Trump said he is considering joining Saudi Arabia in its retaliation against Tehran-backed Houthis in Yemen after a deadly attack on Riyadh's main airport, a move that could draw the U.S. further into a second front in the Iran war.

"We may. We're going to look at it," Trump told reporters outside the White House on Saturday when asked if the U.S. would back Saudi Arabian strikes. "We just found out about the recent attack. So, we'll make a decision. We move very quickly."

Read the full story here.

— Azhar Sukri and Terri Cullen

16 Hours Ago