Stocks Drift lower as Hormuz Deal Hopes Fade

Wall Street ended flat as a 5% oil surge on Iran's Hormuz standoff offset record earnings momentum. Nvidia confirmed a $500B AI infrastructure deal with six Wall Street giants. Intel fell 4% on a $15B stock offering and Jefferies downgraded Apple.Mark Gardner is joined by Phil DeLoughery for a new ASX-focused segment — covering the Westpac mortgage application slump, the chips-to-software rotation, and today's key reporters (Life360, Coronado, Helia, SGH). All eyes on the RBA rate decision at 2:30pm AEST, US CPI Wednesday, and CBA earnings tomorrow.S&P 500: 7,753 (-0.06%) | Brent: $87.67 (+4.9%) | Gold: $4,357 | ASX Futures: 9,178