00:00U.S. stocks closed slightly lower on Monday, with the Dow flat and the S&P 500 and NASDAQ each
00:07dipping about a quarter of a percent.
00:10All three indexes are coming off a third straight week of gains, but renewed U.S.-Iran tensions put the durability
00:17of a two-week ceasefire in question.
00:20Adam Koons is Chief Investment Officer at Winthrop Capital Management.
00:24Yeah, so today we've got markets in that digestion period of what's going on in the Middle East.
00:31Last week, we ended the week with a strong rally because there was just talks, stronger talks about a deal
00:38being made between the U.S. and Iran.
00:42And just kind of over the weekend, saw some deterioration of kind of evidence on what that would look like
00:48and if it was really going to even happen.
00:50And so you're seeing stocks sell off a little bit today, and just overall kind of the pessimism is creeping
00:56back into markets today, where it seemed to evaporate last week.
01:00U.S. crude jumped more than 6.5 percent to settle at nearly $90 a barrel.
01:06Among the session's stock moves, communication services was the worst performing sector.
01:12Shares of Apple moved lower in extended trading after the iPhone maker named company insider John Ternus as its next
01:20CEO.
01:21Tim Cook, who has led Apple since 2011, will become the company's executive chairman.
01:28Shares of Meta shed 2.5 percent to snap a nine-session winning streak, its longest since October.
01:36And shares of Netflix also fell 2.5 percent.
01:39The stock has fallen about 12 percent since the streaming service last week announced its quarterly results and the departure
01:46of co-founder Reed Hastings.
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