Stocks Eke Out Gains as Stubborn Oil Prices Cap Gains

US equities held at record highs in subdued trading on Monday as investors braced for the most consequential week of the year — five Magnificent Seven earnings reports, a Fed meeting that may be Jerome Powell’s last as chair, and Q1 GDP and PCE inflation data. The S&P 500 rose 0.1% to 7,173.89 and the Nasdaq edged up 0.2% to 24,887.10, both fresh records, while Brent crude surged 3% to above $108 a barrel for its sixth straight session of gains. Iran proposed an interim deal to reopen the Strait of Hormuz in exchange for lifting the US naval blockade, with Trump convening his national security team to discuss. ASX 200 futures point to a 0.6% fall.