S&P 500 notches 4th straight gain; Broadcom names new CFO
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- S&P 500 traded higher for most of Monday's session, with a brief pullback around 1 p.m. ET during President Trump's news conference; a positive close would extend the index's winning streak to four consecutive sessions.
- Donald Trump held a news conference highlighting a successful rescue mission in Iran while issuing harsh rhetoric ahead of his Tuesday 8 p.m. ET deadline demanding the Strait of Hormuz be opened.
- West Texas Intermediate crude hit session highs during Trump's news conference, trading near $114 per barrel — up from $67 before the Middle East war began in late February, though bond yields stayed relatively unchanged.
- Broadcom announced CFO Kirsten Spears will retire and be succeeded by Alphabet VP, corporate controller, and chief accounting officer Amie Thuener in June, with Spears staying on as an advisor for nine months.
- The CNBC Investing Club said last week's strategic partnership between Nvidia and Marvell Technology is a move against Broadcom, making them "a little less positive" on the chip designer than they were a week ago.
- No major earnings are scheduled for Monday evening or Tuesday morning; durable goods orders and the New York Fed's inflation expectations are due before the bell.
Why it matters: Broadcom's CFO swap from Alphabet signals continuity, but the CNBC Investing Club's cooling stance — triggered by the Nvidia-Marvell partnership — directly affects how club members size the position. Meanwhile, oil's climb from $67 to nearly $114 since the war began shows energy-driven inflation pressure that hasn't yet rattled the bond market, keeping the rally on thin ice if Trump's Tuesday Strait of Hormuz deadline escalates tensions.
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