US EQUITY OPEN: Indices pare mild gains after the open as Iran rhetoric appears more constructive

OPEN: Indices open in the green and risk sentiment improved through the morning amid a couple of positive Middle East updates. Firstly, Tasnim sources reported that unlike their previous texts, the Americans have agreed in the new text to lift Iran's oil sanctions during the negotiation period, while Al Arabiya reported Iran has agreed to a long-term nuclear freeze instead of a complete dismantling, and working on a condition transfer of enriched uranium to Russia instead of the US. Sectors see an upward bias, with Energy the clear laggard and weighed on by losses of c. a USD 1/bbl given the aforementioned reports. The Dollar is lower with high-beta FX buoyed and Treasuries firmer across the curve. Precious metals are in the green, with spot silver outperforming its counterpart. As a reminder, over the weekend Trump warned that the clock is ticking for Iran, though he declined to give a specific deadline. Ahead the calendar is very quiet with no US tier 1 data, Fed speak or Treasury auctions scheduled, as participants await Nvidia earnings on Wednesday.STOCK SPECIFICS: Regeneron (REGN) melanoma combo fails Phase 3 primary endpoint. Ford (F) plans to launch seven new vehicle models in Europe by 2029. NextEra Energy (NEE) is discussing a mostly stock deal for Dominion Energy (D) that would value the Co. at about USD 76/shr, or around USD 66bln. Publicis agreed to buy LiveRamp (RAMP) in an all-cash USD 2.2bln deal. BofA reinstated coverage of ServiceNow (NOW) with a 'Buy' rating and a PT of USD 130. In latest 13-F filing, Berkshire (BRK.B) exits UnitedHealth (UNH) position. In latest 13-F filing, Elliott builds Bio-Rad (BIO) stake.