US stocks were mostly higher on Monday as markets continued to gauge the uncertain impact of the war in Iran. The S&P 500 and the Dow inched higher while the Nasdaq 100 gained 0.5% on a session of tech outperformance. Reports emerged that US allies pressed for a last-minute deal with Iran amid a potential longer ceasefire agreement, but retaliatory rhetoric from Tehran ahead of President Trump's threat of aggressive attacks starting tomorrow maintained risks of escalation in the region. The war maintained supply shocks in crude and product commodities, with spot crude prices in Europe having reached 2008-highs last week. Credit costs rose as the pro-inflationary outlook was magnified by a strong jobs report released Friday and surge in manufacturing and services costs measured by the ISM, risking a hawkish response by the Fed. Netflix gained nearly 2% on an upgrade from Goldman Sachs, and AMD gained nearly 3% to rebound from losses on the compute sector last week.

WTI crude futures rebounded to above $112 per barrel on Monday after testing the $109 mark as the market balanced a potential 45-day ceasefire proposal against President Donald Trump’s looming Tuesday deadline to strike Iranian infrastructure. While Pakistan and other regional mediators have floated a framework for an immediate truce and the reopening of the Strait of Hormuz, persistent concerns over a resolution timeline remain a negative overhang. Volatility intensified following a Truth Social post where the President warned that failing to open the strait would result in the destruction of Iranian power plants and bridges starting tomorrow. This escalatory rhetoric offset earlier optimism and followed a weekend OPEC+ meeting where the group approved higher output quotas to address global shortages caused by war-related damage.

Mexico's gross fixed investment fell 3.3% year-over-year in January 2026, following a flat reading in December and below forecasts of a 2.1% drop. Spending on machinery and equipment fell 9.8% after declining 4.6% in December, with national sector investment down 12% and imported goods purchases down 8.3%. Investment in construction rose 3% following a 4.3% gain in the prior month, with residential spending up 6.8%, while non-residential construction dropped 0.5%. On a seasonally adjusted monthly basis, gross fixed investment declined 1.1% after rising 0.5% in December.

The dollar index pared its early gains and fell below 100 on Monday, as traders reacted positively to reports that Iran, the US, and a group of regional mediators are discussing a potential 45-day ceasefire that could pave the way toward ending the war. Additional reports indicating that more ships are passing through the Strait of Hormuz helped ease pressure on oil prices, offering some temporary relief. This comes amid President Trump’s threat to target Iran’s power plants starting Tuesday, while Iran continues striking energy infrastructure in neighboring Gulf countries. Investors are now awaiting a series of key economic releases that will provide further insight into the health of the economy, including the CPI report later this week and the FOMC minutes. Markets have fully priced in the Fed will leave the federal funds rate steady later this month and expect borrowing costs to remain unchanged throughout the year.

Gold remained below $4,700 an ounce on Monday following a sharp drop in the previous session, as investors assessed reports of a potential ceasefire in the Middle East. The US, Iran, and a group of regional mediators are reportedly discussing terms for a possible 45-day ceasefire that could pave the way for an end to the conflict. Meanwhile, President Donald Trump issued a fresh ultimatum to Iran, warning of strikes on its power plants and other civilian infrastructure if the Strait of Hormuz is not reopened. Tehran has rejected the latest demand and continues to target energy assets across the region. Gold remains down roughly 12% since the conflict began, as surging energy prices have fueled inflation concerns and reinforced expectations of further interest rate hikes. The metal has also struggled to act as a traditional safe haven, weighed down by forced liquidations as investors moved to cover losses in other markets.

The number of people registering as jobless in Spain fell by 22.934 thousand from the previous month to 2.420 million in March 2026, compared with market expectations of a 10.3 thousand increase. Unemployment decreased across services (-18,852), construction (-5,846) and industry (-1,482). On the other hand, unemployment rose in and agriculture (+365). Youth unemployment fell by 431 to 188,977, the lowest figure ever recorded in March. The largest decreases in unemployment were registered in Andalusia (-8,836), Catalonia (-3,777) and Valencian Community (-2,467).