U.S. President Donald Trump attends UFC 327: Jiri Prochazka vs. Carlos Ulberg at the Kaseya Center in Miami on April 11, 2026. (Photo by Julia Demaree Nikhinson/POOL/AFP via Getty Images)
Julia Démarée Nikhinson | Afp | Getty Images
Hello, this is Leonie Kidd writing to you from London. Welcome to another edition of CNBC’s Daily Open.
US President Donald Trump certainly packed a lot into a single weekend.
He spent more than four hours watching a UFC title fight in Miami on Saturday, while negotiators failed to reach a deal with Iran during a 9 p.m. meeting in Pakistan. He then announced plans to blockade the Strait of Hormuz, while speaking to Truth Social to criticize Pope Leo XIV over his views on the war in Iran.
A busy 48 hours.
Across the Atlantic, Hungary voted for a new government for the first time in 16 years.
Lots to digest for investors as markets kick off a new trading week.
What you need to know todayCrude oil prices jumped on Monday, as the The US Navy prepares to impose a blockade on Iranian ports after weekend peace talks failed.
American crude oil futures for May delivery jumped more than 8% to over $100 a barrel, and the international benchmark Brent for June delivery also increased by more than 8% at the start of the session.
U.S. Central Command said Sunday that the military will block all maritime traffic enter and exit Iranian ports Monday at 10 a.m. ET. He added that the United States will not prevent ships from transiting to and from non-Iranian ports.
Asia-Pacific markets fell on Mondaywith India’s Nifty 50 index being the worst performing major Asian index, down almost 2%. US Futures Contracts indicate a negative open, while European futures are also weaker.
Meanwhile, the president Donald Trump Sunday struck Pope Leo XIV on the US-born Catholic pontiff’s criticism of the US war in Iran.
The president said he didn’t “I want a pope who criticizes the president of the United States because I’m doing exactly what I was elected to do, IN A LANDSLIDE,” in a Social truth job.
Trump has linked the pope’s ascension to his return to power as president.
“Leo should be grateful because, as everyone knows, he was a shocking surprise,” Trump said. “He wasn’t on any list of candidates for pope, and he was only put there by the Church because he was American, and they thought that would be the best way to deal with President Donald J. Trump. If I wasn’t in the White House, Leo wouldn’t be in the Vatican.”
Hungarian nationalist leader Viktor Orbán admitted defeat Sunday after a landslide election victory for the new opposition Tisza party, a setback for its Russian allies and the US president that of Donald Trump White House.
“The election results are not yet final, but the situation is understandable and clear,” Orbán, 62, told the Fidesz campaign office.
“The election result is painful for us, but it is clear.”
European leaders welcomed the leader of the pro-European Tisza party, Peter Magyar, with The President of the European Commission, Ursula von der Leyen saying: “Hungary has chosen Europe”
— Leonie Kidd
And finally…Goldman Sachs set to report first quarter results – here’s what Wall Street expects
Goldman Sachs is expected to report its first-quarter results before the opening bell Monday, and the investment bank stands to benefit from several trends during the first quarter.
Wall Street’s trading desks were busy at the start of the year as institutional investors took new positions to address AI-driven disruption across industries.
At the same time, the rebound in investment banking is expected to continue, with industry revenue expected to increase 10% in the quarter, according to Dealogic.
For Goldman Sachs, which derives most of its revenue from its trading and investment banking activities, the main question analysts will ask concerns the impact of the war in Iran which began on February 28.
—Hugo Son