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Tim Cook Has Been in the Top Spot Since 2011

Incoming CEO John Ternus has been with the company for 25 years.
Credit: Adam Gray / Bloomberg / Getty Images

Key Takeaways

• Apple on Monday said John Ternus, its senior vice president of hardware engineering, will succeed Tim Cook as CEO in September.
• Ternus has been at Apple since 2001, and is credited for playing a key role in the development of Apple's iPad and AirPods, along with several generations of products across the iPhone, Mac and Apple Watch lines.

Apple is getting a new CEO.

John Ternus, Apple's current senior vice president of hardware engineering, will succeed Tim Cook as CEO in September, the company said Monday.

Cook, who will become executive chair of the company's board, will still "assist with certain aspects of the company, including engaging with policymakers around the world," Apple said.

Why This Is Significant

Though the timing of the announcement took some Apple watchers by surprise, it ends months of speculation about who would succeed Cook, and could help address some of the uncertainty around the path forward for Apple.

Cook, who's stepping down after nearly 15 years as CEO, has overseen a period of tremendous growth for Apple, and could be a tough act to follow. Under his stewardship, the company's market capitalization has grown from approximately $350 billion to more than $4 trillion.

Ternus has been at Apple since 2001, and is credited for playing a key role in the development of Apple's iPad and AirPods, along with several generations of products across the iPhone, Mac, and Apple Watch lines.

'Without Question the Right Person to Lead Apple Into the Future'

Cook, who called Ternus a "visionary whose contributions to Apple over 25 years are already too numerous to count," said that he is "without question the right person to lead Apple into the future. I could not be more confident in his abilities and his character, and I look forward to working closely with him on this transition and in my new role as executive chairman.”

"There will be a lot of pressure on Ternus to produce success out of the gates especially on the AI front," analysts at Wedbush said following the announcement. They suggested this could add even more pressure on Apple to impress at its developers conference in June, "with AI front and center."

Investors will likely be looking for more information on the leadership change when Apple executives speak next week on a conference call following the release of its quarterly earnings report. The results are due on April 30.

Shares of Apple were little changed in extended trading Monday. The stock has gained less than 1% since the start of the year but is up nearly 40% over the past 12 months.

Kevin Warsh is the nominee to be the next chair of the Federal Reserve.
Credit: David Paul Morris / Bloomberg via Getty Images

Key Takeaways

• At Tuesday's hearing, senators will likely question Federal Reserve Chair nominee Kevin Warsh on his proposed changes to the central bank, his interest rate policies, and other topics.
• Warsh's nomination could go nowhere, regardless of what is said, because a key senator has vowed to block the confirmation if the Trump administration does not drop an investigation into current Fed Chair Jerome Powell.

President Donald Trump's pick to lead the Federal Reserve will answer to lawmakers this week in a proceeding that may come to naught amid continued opposition from a key senator.

Former Fed Governor Kevin Warsh is scheduled for a hearing with the Senate Banking Committee at 10 a.m. Tuesday. Senators are likely to grill Warsh on several topics, including his plans to reshape the central bank, his calls for lower interest rates amid high inflation, and the Fed's independence. But the questioning may not change the outcome: A key member of the committee has vowed to block Warsh's confirmation until the Justice Department drops a criminal probe of current Fed Chair Jerome Powell.

The standoff between Trump and North Carolina Republican Thom Tillis throws the Fed's future leadership into doubt at a time when the Iran War and other economic forces are threatening both sides of the Fed's dual mandate to keep inflation low and employment high.

What This Means For The Economy

Leadership of the Fed is one of the most important jobs in the economy, and the new chair could shape monetary policy for years to come. Warsh has said he favors lowering interest rates sharply now, but in the past has taken a "hawkish" stance, favoring keeping rates higher for longer.

As recently as Wednesday, Tillis said he would not vote to advance the nomination unless the Justice Department ends its investigation into Powell's management of a renovation project at the Fed's headquarters, which Trump alleges has been mismanaged. Tillis said in an interview on NBC that Warsh is the "perfect candidate" to lead the Fed, but is concerned that the Powell investigation threatens the Fed's independence from direct White House control.

Powell's term as Fed chair ends in May, opening the door for a Trump-nominated successor. However, Tillis has the power to stop Warsh from taking office. His nomination cannot advance without clearing the banking committee, which is composed of 13 Republicans and 11 Democrats. Assuming party-line votes, Tillis joining the Democrats would deadlock the committee and prevent Warsh from moving forward.

Tillis and others have said the administration is using the investigation to pressure the central bank to bend to Trump's will on monetary policy. Trump has demanded the bank sharply lower its key interest rate from its current range of 3.5% to 3.75%, where it's been held all year.

Powell and other Fed officials who vote on setting monetary policy have resisted cutting rates out of concern that tariffs and the Iran war are keeping inflation above the Fed's 2% annual target and could push it even higher in the coming months.

Economists and former Fed officials have raised alarms about the pressure campaign, contending that if the White House called the shots at the Fed, Trump and future presidents would keep interest rates too low, which could let inflation run rampant. Proponents of Fed independence point to studies of foreign countries, where those with less independent central banks tend to have higher inflation and less stable economies.

Warsh said he views the Fed's independence as a two-way street requiring the central bank to "stay in its lane," according to prepared testimony viewed by several news outlets.

“I believe that monetary policy independence is earned—and better policy decisions crafted—by steering clear of distractions,” Warsh said, according to CNBC. “Fed independence is placed at greatest risk when it strays into fiscal and social policies where it has neither authority nor expertise.”

Tillis's blockade has a time limit, since the senator's term in office ends in January and he is not running for re-election. At that point, however, it's possible that the Democrats could take control of the Senate, making for an uphill battle for Warsh or any other Trump nominee.

The stalemate could keep Powell in charge of the central bank beyond May. Powell said he would continue to serve as chair in a temporary capacity until his successor is confirmed, which is a standard practice at the Fed.

Powell's term as a member of the Fed's board of governors does not expire until 2028. Powell has said he won't leave the board until the investigation into him is dropped.

Nearly one-fifth of the S&P 500 is slated to report quarterly results this week.
Credit: Michael Nagle / Bloomberg / Getty Images

Key Takeaways

• A week into first-quarter earnings season, S&P 500 companies are handily beating expectations, suggesting corporate profits remain resilient in the face of geopolitical and economic uncertainty.
• The market's reaction to earnings has been muted thus far, according to a Bank of America analysis, but some experts see pockets of opportunity in sectors, like tech, where the Iran war has compressed multiples while earnings are growing.

Wall Street was expecting a lot of first-quarter earnings. A week in, it's going even better than expected.

The share of S&P 500 companies topping expectations and the magnitude of their beats are both ahead of long-term averages, according to FactSet Research. Nearly 90% of companies have surpassed expectations, compared with an average of 76% over the past decade. In aggregate, earnings have exceeded estimates by nearly 11%, well ahead of the 10-year average of 7%.

AI investment made technology earnings especially strong. The S&P 500 tech companies that have reported so far grew earnings by 45%, more than twice the pace of the next-best sector. Results outside the U.S. also contributed to a bullish outlook. Taiwan Semiconductor Manufacturing Co. (TSM) reported “extremely robust” AI chip demand, which was also visible in chip manufacturing equipment firm ASML’s (ASML) better-than-expected results. 

Why This Is Important

Investors were expecting a strong first-quarter earnings season, but the war in Iran has generated a cloud of uncertainty that's loomed over markets since early last month. Broadly better-than-expected results suggest the economy may withstand war shocks and other risks more easily than Wall Street thought.

Analysts have increased their estimates for tech sector earnings by about 5% since the end of January, more than any sector other than energy, which is expected to get a boost from higher oil prices, according to a recent BCA Research report. Though a few semiconductor makers account for the bulk of the increase, “gains remain broad-based, with 80% of Tech stocks seeing positive revisions over the last three months,” according to BCA.

Rising earnings expectations are being fueled by Big Tech’s growing investments in artificial intelligence. Analysts have increased their forecasts for capital expenditures at the five major hyperscalers—Alphabet (GOOG), Microsoft (MSFT), Amazon (AMZN), Meta (META) and Oracle (ORCL)—by 25% since the start of the year, according to Bank of America. The tech giants are now expected to invest $680 billion this year, up 63% from last year.

While earnings are strong, the stock market reaction has been less than stellar, according to Bank of America. Companies that beat top-and bottom-line expectations performed about as well the broader market last week. Historically, stocks outperform the market by about 1.4 percentage points after posting a double beat.  

“It's early, but muted reactions to beats suggests that solid 1Q results alone are insufficient, that big moves on geopolitics have subsumed earnings results, and guidance is more important,” wrote Savita Subramanian, BofA’s head of U.S. equity and quantitative strategy. 

Granted, last week’s earnings landed amid surging optimism that an end to the war in Iran, and the largest oil supply shock in history, may be in sight. The S&P 500 closed at a record high for the third consecutive day on Friday, while the Nasdaq posted its longest winning streak since 1992. While stocks retreated slightly on Monday, their sharp rebound off of recent lows could set a high bar for companies to clear in the coming weeks. 

Though experts still see pockets of opportunity, especially in tech, where stocks are “on sale.” The tech sector’s PEG ratio—a forward-looking valuation metric—is currently the lowest of all sectors “and sits in the bottom quartile of its own history,” according to BCA analysts. 

Software stocks, beaten down this year by concerns about AI-driven disruption, are particularly attractive heading into earnings, BCA says. “Clarity from management that AI adoption is a revenue tailwind, not an existential threat, could help tamp down investor fears,” the analysts argue. The industry’s low stock valuations and strong earnings growth add to their conviction. “Trough multiples for accelerating earnings are too good to pass up,” the analysts wrote.

ServiceNow (NOW) will kick off software earnings when it reports on Wednesday. Other big tech names reporting this week include Tesla (TSLA), Lam Research Corp. (LRCX), IBM (IBM), and Intel (INTC). Other big-name companies slated to report are UnitedHealth Group (UNH), GE Aerospace (GE), Boeing (BA) and American Express (AXP).

Ninety S&P 500 companies representing about 14% of the index's earnings are slated to report this week. The season peaks next week when companies accounting for more than 40% of S&P 500 earnings are scheduled to report.

Gas prices have climbed amid global oil disruptions.
Credit: Suzanne Kreiter / The Boston Globe via Getty Images

Key Takeaways

• Forecasters and the U.S. energy secretary said gasoline could remain above $3 a gallon all year, a claim President Donald Trump denied.
• Gas prices have risen significantly since the Iran war began because the conflict is choking off oil supplies through the Strait of Hormuz.
• It could take months or years for prices to fall to prewar levels even if the strait reopens, forecasters said.

If you filled up your tank for $3 a gallon or less back in February, hold on to those memories.

As oil supply disruptions from the Iran war drag on with no end in sight, U.S. leaders disagree over how long gasoline prices will remain elevated.

Over the weekend, Energy Secretary Chris Wright said it could be more than a year before the price of gasoline fell to its prewar price of $3 a gallon, only to be contradicted the next day by President Donald Trump, who told a reporter he was "totally wrong."

A gallon of regular gas averaged $4.04 Monday, up from $2.98 on Feb. 28 before the war began, according to AAA.

High gas prices are among the most immediate and economically significant consequences of the Iran War, which closed the crucial Strait of Hormuz to traffic. The strait is a waterway between Iran and Oman that normally carries 20% of the world's oil supply from the Persian Gulf to global markets.

As of Monday, the strait remained closed. Iranian forces reopened the waterway on Friday, but it proved short-lived, after the Iranian military attacked ships attempting to cross over the weekend, according to press reports. Crude oil's international benchmark was up to $95 Monday, up from around $70 before the war.

Forecasters said the price of oil is likely to take years to come down to prewar levels even if the strait actually reopens and traffic resumes. It will take time for the stranded oil to move out of the gulf, for countries to restock their supplies, and for infrastructure destroyed in the war to be rebuilt.

Prices could be much higher for much longer if the strait stays closed or fighting breaks out again. Gasoline prices, in turn, are likely to fall slowly if at all. Gasoline will average $3.46 a gallon in 2027, the Energy Information Administration said in an April 9 forecast.

What This Means For The Economy

High gas prices are pushing up inflation and crushing consumer confidence, both of which could hold back economic growth.

"That might happen this year, that might not happen until next year," Wright said on CNN's State of the Union talk show Sunday, when asked when he expected gasoline to fall below $3 a gallon. "But prices have likely peaked and they'll start going down certainly with the resolution of this conflict."

“I think he’s wrong on that. Totally wrong," Trump said Monday, The Hill reported.

The trajectory of gas prices could hinge on whether peace talks between the U.S. and Iran are successful, and whether traffic through the strait resumes. In the meantime, oil prices have jumped up and down along with headlines about the situation in Iran, and gasoline prices will follow. That will probably continue, Patrick DeHaan, head of petroleum analysis at GasBuddy, wrote in a blog post.

"Oil prices will likely continue to experience sharp swings as traders weigh the risk of escalation against the potential for a diplomatic resolution," he wrote.

Strategy has continued to buy bitcoin in large quantities this year.
Credit: Omar Marques / SOPA Images / LightRocket via Getty Images

Key Takeaways

• Strategy chair Michael Saylor said the company's latest proposal to pay semi-monthly dividends on "STRC," or Stretch preferred shares, is "intended to stabilize price" as well as "grow demand."
• The company is proposing to pay dividends on a semi-monthly basis, instead of monthly. The preferred stock was trading below its par value of $100 recently.

Strategy has a new strategy for keeping its bitcoin habit going: pay income-seeking investors more frequently.

The enterprise software company turned bitcoin treasury on Monday said it recently added $2.54 billion worth of the cryptocurrency to its stockpile, which is now valued at nearly $62 billion based on recent prices around $75,800. An Investopedia scan of Strategy's (MSTR) recent purchases shows that the more than 120,000 coins it has purchased this year far exceed the number it acquired during the same period in past years.

Strategy's latest bitcoin buys are in part enabled by"STRC," or its Stretch perpetual preferred shares, which it sells to buy more bitcoin to buyers—including retail and some institutional investors—interested in the income they provide. The company now wants Stretch to pay dividends, recently at 11.5%, on a semi-monthly basis, instead of monthly, which might drive more interest in them.

WHY THIS MATTERS TO INVESTORS

Strategy is working to continue funding its bitcoin buying with a new proposal to pay dividends on its perpetual preferred shares semi-monthly.

What does that mean? STRC recently began trading below its par value of $100, which the company has sought to maintain by raising and lowering the dividend rate; Strategy believes more frequent payouts could help it do that, too, with Executive Chair Michael Saylor saying in a social media post last week that the proposal is "intended to stabilize price" as well as "grow demand."

CEO Phong Le, during an investor presentation earlier this month, said that STRC's price tended to fluctuate, with drawdowns of 45 cents on average, following the mid-month record date that was the cutoff to lock in the list of shareholders who would get the next payout; STRC was recently trading about 68 cents below par. Le said the company would, if approved by shareholders, pay out dividends on STRC on the 15th and at the end of the month, saying it "effectively makes it two times better" than before. (This doesn't change the dividend rate, to be clear; it essentially just means instead of getting $1 once a month, you'd get 50 cents twice.)

Voting on the proposal is expected to start on April 28 when the company plans to file its definitive proxy; it filed its preliminary proxy last week. The voting will end at Strategy's annual shareholder meeting expected on June 8.

Strategy's stock hasn't fully recovered from the beating it took last year, but has been on the upswing lately—it's now up almost 10% year-to-date, outpacing the S&P 500.

Stocks are under pressure to start the week as war headlines continue to cloud the outlook.
Credit: Timothy A. Clary / AFP via Getty Images

Key Takeaways

• The Dow, the S&P 500, and the Nasdaq are falling to start the week, while crude oil prices are rising. The VIX, or the Street's "fear gauge," is climbing amid dimming hopes of peace.
• "Strong" earnings revisions have supported the stock market's surge to new highs, according to Goldman Sachs, yet war headlines appear to be in the driver's seat this week.

The state of the Iran-U.S. conflict remains uncertain—and it shows in markets.

The exuberance that drove U.S. stocks to records last week appears to have dissipated over the weekend. U.S. forces have reportedly seized an Iranian cargo ship that serves China, one of Tehran's biggest backers, adding another uncertain element to the peace negotiations expected in Pakistan today and taking some steam out of the peace rally. The Dow, S&P 500 and Nasdaq are in the red so far Monday morning, while crude prices are up. The CBOE Volatility Index, known as the Street's "fear gauge," is rising again, though it's still in territory suggesting calm.

Some market experts, including those at Goldman Sachs, said U.S. stocks' latest surge to new highs was backed by "strong" earnings revisions, with analysts boosting their figures recently for a handful of stocks. But others caution against buying too aggressively amid the uncertainty of the war.

WHY THIS MATTERS TO INVESTORS

What is expected to be a strong earnings season could justify the stock market's surge last week. But experts say the path ahead for U.S. stocks and other asset classes is getting increasingly hard to navigate amid an ongoing war.

"We're back to square one," in the Strait of Hormuz, the vital shipping waterway that has been a flashpoint for violence and contributed to shifting short- and long-term estimates of economic impact, said Matt Smith, Kpler's director of commodity research, on CNBC this morning. "Everyone wants to see the Strait back opened. You simply have an impasse here."

While the U.S. is sending a delegation to Islamabad today to restart peace talks, Iran's state media has said officials may not show up, highlighting a disconnect between what leaders in Iran and the U.S. have been communicating about the state of affairs. "Trying to get to the table is the first sign of progress here, and we're not even there," Smith said.

Though U.S. stocks have recovered furiously over the past couple of weeks, Treasury yields remain elevated, with the 10-Year Treasury at around 4.27%, near March highs. In other words: While stock investors started to celebrate early, bond investors have remained cautious.

In this environment, said Mark Malek, chief investment officer at Siebert Financial, in an emailed note on Monday, "chasing prices—in either stocks or crude—is not investing" because the market is not accounting for the complexity of the situation. The currently announced ceasefire expires Wednesday.

Monday's gains put Marvell shares up more than 70% since the start of the year.
Credit: Jonathan Raa / NurPhoto / Getty Images

Key Takeaways

• Marvell Technology shares climbed to a record high Monday following a report that the custom chip designer is in talks with Google.
• A deal could see Marvell develop new custom AI chips with the cloud giant.

One custom AI chip designer's stock is off to a strong start this week amid reports that it is on the verge of a reaching a deal with Google.

Shares of Marvell Technology (MRVL) were up over 4% in recent trading and on track to close at a fresh high topping Friday's record, after The Information reported over the weekend that the chipmaker is in talks with Alphabet's (GOOGL) Google. Shares of Alphabet were down about 1%.

A deal could see Marvell design new custom AI chips for Google, which could help them better compete with offerings from AI chip leader Nvidia (NVDA), the report said.

Google and Marvell did not respond to Investopedia's requests for comment in time for publication.

Why This Matters to Investors

A deal with Google would add to Marvell's wins this year, after a runup in its stock.

Marvell's Monday surge is the stock's latest boost from partnering with a Magnificent Seven member, after a $2 billion investment and partnership with Nvidia sent shares soaring at the end of last month.

With Monday's jump, Marvell shares have gained more than 70% since the start of the year. Alphabet has added about 7% over the same period, compared to the broader S&P 500's close to 4%.

Blue Origin was started by Amazon founder Jeff Bezos.
Credit: Paul Hennesy / Anadolu / Getty Images

Key Takeaways

• Blue Origin's first commercial launch on Sunday experienced setbacks, and ended with the satellite it was carrying at too low of an orbit.
• Shares of the satellite's operator, AST SpaceMobile, were sinking sharply Monday morning after the mishap.

The first commercial launch for Jeff Bezos' Blue Origin didn't go exactly as planned.

The space exploration company hit snags with the launch of its New Glenn rocket on Sunday, with a communications satellite from AST SpaceMobile (ASTS) attached. While the launch and separation process worked, Blue Origin said Sunday morning that the satellite was "placed into an off-nominal orbit."

AST SpaceMobile said in a statement that the satellite, BlueBird 7, separated from the rocket at too low of an altitude to operate correctly, and will be removed from orbit. Shares of AST SpaceMobile were down nearly 10% in recent trading.

Why This Is Significant

The mishap could be taken as a setback in Blue Origin and AST SpaceMobile's ability to compete with Musk's SpaceX, which is expected to go public later this year.

AST SpaceMobile is looking to build a satellite broadband network that can connect directly to cell phones. BlueBird 7 was intended to be the eighth satellite in that network, and the company said it is working on the production of dozens more satellites.

With Monday's drop, AST SpaceMobile shares are down nearly 40% from their late-January highs.

This article has been updated since it was first published to reflect more recent prices.

GE Aerospace shares have pulled back from their highs last month.
Credit: Christopher Pike / Bloomberg / Getty Images

Key Takeaways

• GE Aerospace's quarterly earnings report is due to be released Tuesday morning, with the stock seen making big moves in the days that follow.
• The aircraft parts maker is projected to report rising revenue and profits for the first quarter.

GE Aerospace (GE) is scheduled to report earnings ahead of the opening bell on Tuesday, with the stock expected to make a big swing following the results.

Based on recent options pricing, GE Aerospace stock is seen moving up to 5.5% by the end of the week. A move of that size from Friday's close could push shares up to about $321, closer to last month's record highs. The low end of that range would drag them below $288.

The jet engine manufacturer's stock has pulled back from its record highs recently, during a broader sell-off sparked by the Iran war, and despite some gains during last week's rally amid signs of progress toward and end to the war, they've yet to make a full recovery.

Why This Matters to Investors

Investors could look to GE Aerospace's earnings for insights into demand for airplane engines, amid some concerns that rising fuel and ticket prices could hamper travel demand.

In January, GE Aerospace posted fourth-quarter results and an outlook that topped Wall Street estimates, though its stock lost ground on the day of the report. Last year was GE Aerospace's first full year as a standalone company, after General Electric completed its split into three companies in April 2024.

GE Aerospace is projected to report a 15% year-over-year increase in first-quarter revenue to $11.45 billion. Adjusted earnings per share are seen rising 11 cents to $1.60, according to estimates compiled by Visible Alpha.

Wall Street analysts are overwhelmingly bullish on GE Aerospace. All six analysts with current ratings tracked by Visible Alpha have recommended buying the stock. Their average price target around $358 would imply an 18% rise from Friday's close to a new record.

News of the day for April 20, 2026

Major stock indexes have posted big gains the last three weeks, with the S&P 500 and Nasdaq hitting a series of record highs.
Credit: Michael Nagle / Bloomberg / Getty Images

Stock futures are lower Monday as investors await the latest updates in Iran after a tense weekend; oil prices are rising after the U.S. attacked a cargo ship that it said tried to evade the blockade that has been placed on Iranian ports; President Trump said U.S. officials will be in Pakistan for a second round of peace talks today and again threatened to attack Iran's power plants and bridges if there is no deal; investors are preparing for a busy week of earnings reports, with Tesla, Intel, UnitedHealth Group and several major airlines slated to release results; and Blue Origin's first successful commercial launch didn't go as well as planned. Here's what you need to know today.

Stock Futures Slide After 3 Straight Weeks of Big Gains

Stock futures are moving lower to kick off the week after events over the weekend created uncertainty about the prospects for a peace agreement in the Middle East (more on that below). Futures tied to S&P 500 and Nasdaq, which closed last week at record highs, were each down 0.5% recently, while Dow Jones Industrial Average futures dropped 0.6%. The major indexes have posted big gains for three consecutive weeks, with the tech-heavy Nasdaq Composite riding a 13-session winning streak. Crude oil prices were down roughly 6% recently (see more below), while gold futures slipped 1.5% to $4,810 an ounce. The yield on the 10-year Treasury note rose to 4.26% from Friday's close of 4.24%, which was its lowest level in a month. Bitcoin was trading at $75,300, down from a high of around $78,000 on Friday but up from an overnight low just below $74,000.

Oil Prices Jump as US Blockade Seizes Tanker, Iran Says It Will Retaliate

Crude oil prices are back on the rise Monday after optimism that the Strait of Hormuz would open sent West Texas Intermediate futures, the U.S. crude benchmark, sharply lower on Friday. WTI futures were up 6% at $89 per barrel recently, while Brent futures, the international standard, rose 5% to nearly $95. On Sunday, U.S. military forces attacked and seized a cargo ship bearing an Iranian flag, as President Trump said it had tried to evade the blockade of Iranian ports the U.S. put in place last week. Iran said its military would retaliate for the act of "armed piracy," per The New York Times. Earlier Sunday, Trump also threatened Iran's power plants and bridges once again while criticizing the Iranian military for firing on two vessels in the Strait of Hormuz over the weekend, a British and French cargo ship.

More Peace Talks Could Happen Ahead of Ceasefire Expiration

The dispute over the attacked cargo ship could also affect peace talks between the U.S. and Iran that may be happening this week. Following reports last week that Pakistani officials were looking to mediate a second round of talks before the two-week ceasefire expires Wednesday, Trump said U.S. officials would be in Pakistan late Monday for talks. However, Iranian officials have yet to confirm that they will take part in the new round of negotiations, the New York Times reported. Iran's foreign ministry spokesperson Esmail Baghaei said during a press conference that officials "have no plans for the next round of negotiations and no decision has been made in this regard," according to The Associated Press.

Big Tech, Airline Earnings Reports On Deck This Week

Along with keeping tabs on the latest developments in the Middle East, investors have a full slate of earnings reports and economic data to watch for this week. Among the big names scheduled to reporting earnings are UnitedHealth Group (UNH), GE Aerospace (GE) and United Airlines (UAL) on Tuesday; Tesla (TSLA), AT&T (T) and Boeing (BA) on Wednesday; and Intel (INTC), American Express (AXP), American Airlines (AAL) and Southwest Airlines (LUV) on Thursday. March retail sales data is due out Tuesday, while investors will also get their latest update on how the Iran war is affecting consumer sentiment with April survey results due out Friday.

Blue Origin's First Successful Commercial Launch Ends In Mishap

Shares of AST SpaceMobile (ASTS) are slumping this morning after the company said its satellite launched Sunday on a rocket from Jeff Bezos' Blue Origin wasn't deployed correctly. The launch process for Blue Origin's first commercial launch worked and the satellite was able to be powered on, but Blue Origin said on social media that the satellite was "placed into an off-nominal orbit." In its own release, AST SpaceMobile said the satellite, BlueBird 7, is at too low of an altitude to operate correctly, and will be removed from orbit. AST shares were down 14% ahead of the opening bell.