The Dow Jones Industrial Average finished Monday's session with gains.

The blue-chip index added 195.60 points, or 0.38%, to end the session at 51,850.55.

The S&P 500 and Nasdaq Composite, on the other hand, finished lower, falling 0.06% and 0.44% to 7,807.24 and 27,245.90, respectively.

— Sean Conlon

Earnings season ramps up with the banks this week, and JPMorgan's Mislav Matejka believes the reporting period will ultimately offer a boost to equities.

"Given the increased volatility in the past weeks on a number of fronts, a lot is at stake. We find that investors in general have a constructive view on earnings, but are concerned that actual results might underwhelm. We believe that earnings will be a support for the market," Matejka wrote in a Monday note.

He also noted that the consensus S&P 500 earnings growth projection is more than 20%, adding that "consensus expectations might appear elevated at face value, but we do not believe that to be the case."

— Sean Conlon

Morgan Stanley downgraded Ally Financial to equal weight on Monday as higher rates pressure the online bank's earnings.

"We now forecast less earnings upside amid higher interest rates and a less favorable credit backdrop," analyst Jeffrey Adelson said in a note to clients.

While he is not calling for a material contraction in net interest margin or a worsening in auto credit, he believes those to key earnings drivers are unlikely to improve much from here. That will keep a lid on return on tangible common equity, which is a measure of a bank's profitability, and earnings-per-share growth for now, Adelson added.

— Michelle Fox

The State Street Energy Select Sector SPDR ETF (XLE) touched an intraday all-time high on Monday – its first in more than a month.

The XLE last traded more than 1% higher. It last hit a record on Sept. 10.

The ETF jumped as international Brent crude futures took a leg higher, rising about 2% to trade above $106 per barrel. West Texas Intermediate crude futures gained more than 2% to trade just below $94.

Stocks leading the XLE higher include Diamondback Energy, Oneok, APA and ConocoPhillips, all of which were up around 2%.

— Darla Mercado and Gina Francolla

Cleveland Federal Reserve President Beth Hammack said Monday that tighter monetary policy might be needed to bring down inflation and the central bank should make fast, incremental adjustments.

"When feasible, I generally think it's preferable to make smaller adjustments, and to do so relatively quickly, rather than to wait and risk needing a larger course correction," Hammack, a voting member of the Fed's policymaking committee, said in prepared remarks delivered during the National Association of Business Economics annual gathering.

"Considering all the inputs that factor into my reaction function, a restrictive monetary policy stance is appropriate to ensure a timely return to 2 percent inflation," Hammack added.

Read the full story here.

— Alex Harring

All but two S&P 500 sectors were in the green in midday trading on Monday.

Energy and communication services led the way, with both rising about 1.4%. Consumer staples followed suit, gaining 0.8%.

Information technology and consumer discretionary were the two sectors in negative territory. The former was down around 0.9%, while the latter fell 0.5%.

The broad market index was last trading just below the flatline.

— Sean Conlon

AST SpaceMobile, the company pioneering space-based mobile broadband, is a buy on weakness, according to Deutsche Bank.

The bank upgraded the stock to buy from hold and maintained its $93 price target. That implies upside of 82% from Friday's close.

Shares are down more than 26% year to date, and they dropped 10% on Friday after Elon Musk said SpaceX would buy a nationwide spectrum portfolio, which would allow the space company to compete with mobile providers. However, the stock climbed around 5% on Monday following the upgrade.

CNBC Pro subscribers can read more here.

— Paulina Likos

RBC Capital Markets sees some risks entering in the third quarter reporting season.

The firm cited risks including the effects Iran war, the possibility that 2027 earnings per share forecasts are too high, midterm elections, and the Fed's new hiking cycle.

Therefore, it noted S&P 500 earnings per share outlook could contribute to a short-term pullback.

— Paulina Likos

Global shipping stocks reached a new set of all time highs shortly after the open off of increased oil shipping prices.

Global Shipping ETF hit yet another all-time high at the opening bell, and many stocks of companies that ship oil and gas including Torm PLC, Hafina and Teekay Tankers opened at fresh 52-week highs.

As CNBC's Brian Sullivan reports, high costs to ship oil amid continued tensions in the Middle East are adding "premiums" to the complete price of oil on top of Brent and WTI crude futures. Both Brent and WTI crude are trading at their highest levels in over two weeks Monday morning.

— Caleigh Keating

U.S. equities were relatively unchanged on Monday morning.

The S&P 500 rose 0.1% just after 9:30 a.m. ET, while the Dow Jones Industrial Average gained 83 points, or about 0.2%. The Nasdaq Composite was 0.1% lower.

— Sean Conlon

Starbucks said on Monday that it is not considering a takeover of Chipotle Mexican Grill, with a Starbucks spokesperson telling CNBC that the company is "not buying Chipotle."

Shares of the coffee giant were more than 1% higher in premarket trading following the denial, while Chipotle shares were down more than 2%.

— Amelia Lucas and Sean Conlon

Salesforce could get a much-needed boost as it integrates artificial intelligence into its businesses, according to Bank of America.

The bank double upgraded the stock to buy from underperform. It also raised its price target to $285 from $160, which is 24% above the level at which shares last closed.

"Large enterprises (more than [small to medium-sized businesses] are unlikely to replace platforms that house their business logic, data, workflows and compliance frameworks," analyst Tal Liani said Monday. "If anything, AI should deepen dependence on these platforms."

Shares of Salesforce have pulled back about 14% in 2026, largely due to investors' fears that widening AI adoption could diminish demand for software tools.

CNBC Pro subscribers can read more here.

— Liz Napolitano

Micron is down more than 2% in premarket trading on Monday following the announcement of memory chip advances by Chinese memory giant ChangXin Memory Technologies (CXMT).

ChangXin president Cao Kanyu said at a conference over the weekend that his company is planning to deliver a memory product, the South China Morning Post reported Monday. The product is next-generation DRAM memory and competes with products from the big U.S. and South Korean memory makers, according to Asian media reports.

— Tobias Burns

Check out the companies making headlines before the bell:

• First Solar – Shares gained 2.4% after Truist upgraded the solar name to buy from hold. The bank is confident in the growth and strong demand in the solar market over the coming years, as well as First Solar's pricing power in the industry.
• Biogen – Shares of Biogen rose 2% after analysts at JPMorgan upgraded the biotech name to overweight from neutral. The firm cited several clinical readouts in 2027 as catalysts for Biogen.
• Iren — Australia-based Iren popped 5.3% Monday after The Information reported Sunday that the company, which owns and operates with 100% renewable energy, has quietly signed a multiyear cloud computing deal with Anthropic.

Read here for the full list.

— Paulina Likos

Mattel shares were up more than 1% in the premarket after Seaport Research Partners upgraded the toymaker to buy from neutral amid reports that other companies are interested in taking over the company.

"With speculation swirling, we think investors are taking a closer look at toy stocks and realizing that there's underappreciated value. We think investors are in the process of rediscovering the toy industry's stability, recession-resistance, and strong free cash flow generation. We think all toy stocks, including MAT, will experience multiple expansion as a result," analyst Gerrick Johnson wrote.

— Fred Imbert

Oil prices reversed course Monday, moving higher amid skepticism over U.S. President Donald Trump's so-called 'energy ceasefire' between Ukraine and Russia.

Futures for international benchmark Brent crude for December delivery were last seen 0.95% higher at $105.68 a barrel. U.S. West Texas Intermediate futures for November ticked 0.86% higher to $92.64 per barrel. Prices on both benchmarks had fallen by around 1.5% earlier in the session.

Oil reversed its losses after Ukrainian President Volodymyr Zelenskyy welcomed such a ceasefire, but warned Monday that Moscow must do the same. 

— Hugh Leask

Europe's carmakers moved higher Monday morning after the EU and China reached an agreement to cut the number of hybrid cars China exports to the bloc.

The Stoxx Europe 600 Automobiles and Parts Index was 0.96% higher by 3:47 a.m. E.T.

Shares in French carmaker Renault were up almost 3.1%, while multinational Stellantis, which owns Jeep, Chrysler, Maserati and Peugeot, added 2.7%.

French automotive parts suppliers Valeo and Forvia also advanced 2% and 1.2%, respectively.

— Hugh Leask

South Korea's Kospi fell 3.65% to 6,384.24 in choppy trade, while the small-cap Kosdaq dropped 4.83% at 849.19

Hong Kong's Hang Seng index was marginally higher in its last hour of trade on Monday, while mainland China's CSI 300 closed 0.68% lower at 4,287.98.

Australia's benchmark S&P/ASX 200 gained 0.76% at 8,783.20.

Markets in Japan were closed for a holiday.

— Justina Lee

Volkswagen said it delivered 6 million vehicles in the first nine months of the year, down 9% from the same period in 2025. The decline steepened in the third quarter, when deliveries tumbled 14.3% year-on-year.

The fall was driven mainly by plunging demand in China, where third quarter sales dropped 38.5% year-on-year to 405,800.

In North America, third-quarter deliveries fell 5.8% to 232,000 vehicles. Deliveries in western Europe slipped 2.8% to 780,000, but central and eastern Europe bucked the trend, rising 1.4% to 135,000.

"The sharp decline in the overall market in China remains an industry-wide challenge," said Martin Sander, a member of Volkswagen's extended executive committee for sales.

Sander said VW was seeing a "significantly accelerated trend towards all-electric vehicles" in its home market. Higher fuel prices have helped drive the shift, he added, with all-electric models now making up about 40% of Volkswagen's European order book.

Shares in the German car giant were up 1.4% in early dealmaking.

— Hugh Leask

European stock markets opened higher on Monday, with most regional sectors and major bourses moving higher shortly after 8:00 a.m. in London (3:00 a.m. E.T.).

The pan-European Stoxx 600 gained 0.45% shortly after the opening bell.

Europe's banks led gains, adding 1.39%, while car makers notched a 1.11% gain in early dealmaking. Utilities were up 0.94%. Oil and gas companies led losses, shedding 0.30%, with tech stocks off by 0.28%.

Italy's FTSE MIB led the continent's bourses, advancing 1.21%. Germany's DAX gained 0.40%, as the U.K.'s FTSE 100 rose 0.38%, with France's CAC 40 up 0.33%.

— Hugh Leask

European stocks are set to start the new trading week in positive territory.

Stoxx 50 futures were up 0.65%, with the continent's main bourses all expected to open Monday's session higher.

Italy's FTSE MIB is set to lead gains, rising 0.68%. The German DAX is seen opening 0.58% higher, while France's CAC 40 is seen up 0.51%. The U.K.'s FTSE 100 is seen 0.32% higher ahead of the market open.

— Hugh Leask

The South Korean won appreciated to a two-year high against the greenback on Monday, hitting 1,332.88 per dollar.

According to Bloomberg, heavy selling of the greenback by local companies as well as on lower oil prices helped lift the won. The currency has gained 7.4% so far this year against the U.S. dollar.

Currency traders will keep a watch on the annual meetings of the International Monetary Fund and World Bank this week, with the Bank of Korea Governor Shin Hyun Song in attendance.

— Justina Lee

Thailand will narrow its budget deficit to below 3% of its gross domestic product within a few years, Finance Minister Ekniti Nitithanprapas said, as the government leans on private investment to drive growth with public debt edging toward its official ceiling.

"I am trying to lower our fiscal deficit year by year," Nitithanprapas said in an interview with CNBC on the sidelines of the International Monetary Fund and World Bank annual meetings in Bangkok.

The country's deficit for the current fiscal year is reportedly pegged at 4.3%, while public debt stood at nearly 68% of GDP in August, against a 70% ceiling set under Thailand's fiscal discipline framework. The finance minister has indicated that the government could raise the cap if needed.

Nitithanprapas disagreed that Thailand risked testing the limits of fiscal sustainability and a credit-rating downgrade, saying that the government was watching rising global bond yields and will stick to its medium-term fiscal framework.

He said Thailand will use public-private partnerships to push investment, rather than relying on state spending alone.

— Anniek Bao

Foxconn shares fell 1.81% in Taiwan on Monday, following news that the U.S. has launched a patent infringement probe against several companies, including Foxconn.

The U.S. International Trade Commissions launched a Section 337 investigation against companies regarding certain vertical power delivery systems, related components and computing devices incorporating such systems.

"The investigation is based on a complaint filed on behalf of Vicor Corporation," it said in a statement.

Foxconn posted a 47% jump in its third-quarter revenue from a year earlier, exceeding market estimates, thanks to strong AI-related demand.

Taiwan's Foxconn, also known as Hon Hai Precision Industry, is the world's largest contract electronics manufacturer.

— Justina Lee

Oil fell Monday on optimism of improved supplies after President Donald Trump said that Russia and Ukraine will not be targeting each other's energy facilities, while Iran reached out to Saudi Arabia after Houthi attacks against the kingdom.

Futures for international benchmark Brent crude for December delivery dropped 1.65% at $102.99 a barrel. U.S. West Texas Intermediate futures for November declined 1.92% at $90.09 per barrel.

"Effective immediately, there is an ENERGY CEASEFIRE in the War between Russia and Ukraine. Both parties have agreed. Do not break it!" Trump said in a social media statement.

Ukrainian President Volodymyr Zelenskyy said in a post on social media that "Ukraine supports the ceasefire, and it is important that Russia support it as well."

Prospects of more Russian energy hitting markets after a deal with the U.S. have also risen after Trump said Friday that Russia will supply more than 4 million tons of diesel to the global market under a deal he struck with Putin during a phone call.

— Justina Lee

Mainland China and Hong Kong's benchmark indexes rose Monday.

Hong Kong's Hang Seng index advanced 0.98% , while mainland China's CSI 300 was 0.38% higher.

The gains in Hang Seng were led by basic materials and healthcare sectors, which rose 2.12% and 1.88% respectively.

— Justina Lee

Asia-Pacific markets opened mixed on Monday.

South Korea's Kospi was down 1.34%, while the small-cap Kosdaq declined 0.67%

Australia's S&P/ASX 200 added 0.61% in its first hour of trade.

Japan markets are closed for a holiday.

— Lee Ying Shan

Asia-Pacific markets were set to open higher Monday, with focus on the conflict between the Iran-backed Houthis and Saudi Arabia, and its potential impact on energy supplies.

Futures for Hong Kong's Hang Seng index stood at 24,363, higher than the index's last close of 24,211.35.

Australia's S&P/ASX 200 added 0.25% in its first hour of trade.

Japan markets are closed for a holiday.

— Lee Ying Shan

President Donald Trump said he is considering joining Saudi Arabia in its retaliation against Tehran-backed Houthis in Yemen after a deadly attack on Riyadh's main airport, a move that could draw the U.S. further into a second front in the Iran war.

"We may. We're going to look at it," Trump told reporters outside the White House on Saturday when asked if the U.S. would back Saudi Arabian strikes. "We just found out about the recent attack. So, we'll make a decision. We move very quickly."

Read the full story here.

— Azhar Sukri and Terri Cullen

U.S. stock futures opened little changed on Sunday night.

Dow Jones Industrial Average futures rose by 9 points, or 0.02%. S&P 500 futures and Nasdaq 100 futures climbed 0.03% and 0.07%, respectively.

— Sarah Min