US stocks ultimately closed mostly higher on Monday, although gains were concentrated in large-cap tech, while the Russell 2000 underperformed and broader sector breadth remained weak outside of Technology and Energy, with tech supported by strength in mega-cap names Nvidia and Microsoft after the companies unveiled a new Windows AI superchip, which also lifted related names including Dell, HP and Arm. Energy outperformed following a raft of geopolitical headlines, with the key update coming from Tasnim, which reported that Iran had halted message exchanges with the US via mediators and was threatening to completely block both the Bab al-Mandab Strait and the Strait of Hormuz. Nonetheless, sentiment improved through the afternoon as subsequent headlines were more constructive, namely, Trump announcing a Hezbollah/Israel ceasefire, which saw crude prices pull back from peaks, although both benchmarks still settled firmly higher.USD was firmer amid higher oil prices and punchy geopolitical rhetoric, in which Tasnim reported Iran has stopped exchanging messages with the US via mediators, and that it is to "completely" block the Bab al-Mandab Strait and Strait of Hormuz. Nonetheless, there was more encouraging US/Iran reporting later in the session, as Trump said talks with Iran are continuing at a rapid pace and that he had a very productive call with Netanyahu. He said Israel agreed there would be no troops going to Beirut and that Hezbollah agreed that all shooting would stop, implementing a ceasefire between the two.Looking ahead, highlights include South Korean CPI, Japanese Monetary Base, Australian Building Approvals, Current Account & Net Exports Contribution to GDP, Indonesia Trade Data & Inflation, Supply from Japan.More Newsquawk in 2 steps:1. Subscribe to the free premarket movers reports2. Trial Newsquawk’s premium real-time audio news squawk box for 7 daysLOOKING AHEADHighlights include South Korean CPI, Japanese Monetary Base, Australian Building Approvals, Current Account & Net Exports Contribution to GDP, Indonesia Trade Data & Inflation, Supply from Japan.Click for the Newsquawk Week Ahead.IRAN CONFLICTUS President Trump told NBC News that he had not heard from Iran regarding reports that Tehran was suspending talks and said, “I think we've been talking too much if you want to know the truth, going silent would be very good,” while adding that the blockade in the Strait of Hormuz would remain in place and that he could “wait as long as they want” because “they're losing a fortune.” However, it was separately reported that President Trump said talks with Iran were continuing at a rapid pace.US President Trump told CNBC that he did not care if negotiations with Iran were over and said he intended to ask Israeli Prime Minister Netanyahu what was happening with Lebanon. He also said he was not concerned about oil prices after Iranian state media reported that Tehran was vowing to “completely block” the Strait of Hormuz and halt negotiations, adding that “I think the oil will be dropping like a rock in the very near, you know, the very near distance.”US President Trump said he had a very productive call with Israeli PM Netanyahu and that there will be no troops going to Beirut, while he added that Hezbollah agreed that all shooting will stop.US was initially reported to have given the green light for Israeli strikes on Beirut and its southern suburbs, according to Al Araby. However, a US source told Al Hadath that the Lebanese position had succeeded in convincing Israel not to expand the military escalation, while Washington was working to prevent the collapse of the negotiation track it is leading between Lebanon and Israel. The escalation had reportedly threatened a fourth round of Lebanese-Israeli talks scheduled for Tuesday, while negotiations were said to have moved from “preliminary contacts” to “security arrangements.”Pakistan’s Foreign Ministry announced that Iran had called for Pakistan’s continued mediation efforts to de-escalate the situation and support the ceasefire, according to ILNA.