Risk assets were mixed on Iran threats to block the Bab al-Mandab Strait and with initial reports that it stopped exchanging messages with the US, although the geopolitical headlines were much more positive later in the session.

S&P 500, Nasdaq, and Dow hit record closes on Dell's AI earnings and US-Iran ceasefire hopes. Bitcoin crossed $75K as risk appetite surged across markets.

Oil rose while Asian equities firmed Monday as a surge in artificial intelligence-linked stocks helped offset uncertainty over US-Iran talks.