ASX 200 Rises as Trump Signals Hormuz Deal

The S&P/ASX 200 rose 42.5 points (0.47%) to 9,019.3 on Monday, recovering from a weak start. The market gain was driven by banking, healthcare, and gold stocks, while the energy sector fell 1.2% as oil prices declined. The price drop followed reports that the United States and Iran are returning to negotiations to de-escalate their conflict.

Donald Trump, President of the United States, stated that Iran and other Middle Eastern nations requested time to finalize a deal for the "immediate, complete and total" reopening of the Strait of Hormuz. Despite this progress, investors remain cautious about geopolitical tensions and their potential to delay interest rate cuts, with markets expecting the Reserve Bank of Australia to maintain the 4.35% cash rate.

In other business news, Westpac Banking Corporation completed the sale of its RAMS mortgage portfolio to a Pepper Money-led consortium. On Wall Street, Amazon shares jumped 15.3% on strong cloud and AI-driven profits, while Apple shares fell 7.4% after revenue growth forecasts missed expectations due to a component supply crunch.