S&P 500, Nasdaq Pull Back from Records on Middle East Unrest

Stocks sold off to start the new week as escalating Middle East tensions rattled Wall Street. The Dow shed more than 550 points, as the S&P 500 and Nasdaq pulled back form Friday's records. Today's losses deepened after the United Arab Emirates (UAE) said it intercepted multiple missiles fired from Iran -- the first activation of its missile alert system since the start of the U.S.-Iran ceasefire last month. This comes after President Donald Trump over the weekend announced “Project Freedom" to reopen the Strait of Hormuz.

• Datadog stock is flashing a historically bullish signal.
• Why call traders have been loading up on GME.
• Plus, Blackberry's comeback; COIN rallies before earnings; and chip stock downgraded.

5 Things to Know Today

1. A public nuisance trial against Meta Platforms (META) began in New Mexico today and could have billion-dollar consequences for the tech giant. (CNBC)
2. The Supreme Court temporarily restored mail and pharmacy access to the abortion pill mifepristone. (The New York Times)
3. BlackBerry's successful pivot to the software sector.
4. Bitcoin (BTC) rallied past $80K, sending COIN skyrocketing.
5. Advanced Micro Devices stock tanked amid valuation concerns.

Middle East Unrest Pushes Oil Above $100

Oil prices surged in response of Iran's attack of the United Arab Emirates (UAE), which made the ceasefire between the Tehran and Washington more vulnerable. June-dated West Texas Intermediate (WTI) fell 4% to settle at $106.42 per barrel.

Gold prices slipped on Monday as geopolitical tensions in the Middle East kept inflation concerns elevated and the greenback strengthened. June-dated gold futures shed 1.7% to settle at $4,565.40 an ounce.