Israeli PM Netanyahu said Hamas hopes to make Israel give in to its demands but that will not happen, while he added that Israel is ready to reach a hostage release deal in Gaza but not ready to give in to Hamas’s extreme demands, according to Reuters. Israel’s delegation was given the green light to attend Gaza truce and hostage release talks in Cairo, according to a government official cited by Reuters.

China Construction Bank has filed a winding-up petition in Hong Kong against property developer Shimao in a rare case of a major state-owned financial institution initiating offshore legal action against a mainland Chinese real estate company. U.S. demands that chipmaking giant ASML, opens new tab stop servicing some equipment it has sold to Chinese customers are a diplomatic and business headache for the Dutch government, but signs are it will continue to align with Washington on export restrictions. The US relationship with China is “on a stronger footing” than this time last year, Treasury secretary Janet Yellen said as she ended a six-day visit designed to ease tensions with the US’s main economic rival.

The broker says the automation software company is well positioned to continue driving share gains. Among the main overnight news, the US plans to award chipmaker Taiwan Semiconductor Manufacturing $11.6 billion in US grants and loans to build three factories in Arizona, as part of an effort to boost domestic production of critical technology. Last Friday’s US jobs numbers exceeded expectations for a fifth straight month, reinforcing the Fed’s view of being patient about reducing rates. Meanwhile, Treasury Secretary Janet Yellen wrapped up four days of talks in China with a warning to Beijing’s banks and exporters about the risk of sanctions for providing support for Russia’s war. For investors, it’s a busy week that includes US inflation data, a European Central Bank rate decision and the start of first-quarter earnings.

Commodities are mixed with Energy lower, Metals higher, and Ags mixed. Gold also reversed early losses and printed a fresh record above $2,350 before paring gains. While the market is trimming rate hike estimates both Goldman. Looking at the calendar, Mon/Tues are light macro days ahead of Wednesday’s CPI print, Thurs’ ECB mtg, and Fri’s Bank earnings which launch Q1 earnings season; we algo get at least 7x Fedspeakers where investors will see if a hawkish pivot is building if CPI prints hotter than expected. Crude oil turned lower after last week’s strong gains after Israel said it will pull some troops from Gaza. Brent futures briefly dropped below $90-handle before reversing losses.

JPM still see at least 3x rate cuts. In premarket trading, gigacap tech names are mixed with TSLA, NVDA, NFLX all higher. UiPath rose 2.3% after KeyBanc Capital Markets assumed coverage with overweight rating. Skyworks Solutions fell 2.0% after KeyBanc Capital Markets cut its rating to sector weight from overweight. Boeing and Southwest Airlines (LUV US) fell after the FAA announced it was investigating an incident where the engine cowling of a Boeing plane fell off during take-off. Shares in cryptocurrency-linked companies rose as Bitcoin climbed back over the $72,000 mark as it advanced for a third session. The broker notes that the semiconductor device company’s ability to drive growth in a maturing smartphone market is becoming more challenging.