Monday's Morning Movers: Energy Volatile, Bank PT Cuts, Senators Target Prediction Markets

• Stocks are rallying, with all major indices (S&P 500, NASDAQ-100, Dow Jones, Russell 2000) opening significantly higher after President Trump paused Iran attacks for 5 days.
• The energy sector is the only negative sector today, with crude oil and Brent crude prices pulling back, impacting stocks like Occidental Petroleum and Chevron.
• Goldman Sachs cut price targets on major banks including Wells Fargo, Morgan Stanley, JPMorgan Chase, and Bank of America, citing valuation resets and proposed Basel III changes.
• A bipartisan group of senators is introducing legislation to prohibit entities regulated by the CFTC from listing contracts related to sporting events on prediction markets like Kalshi and Polymarket.

The market is rallying, with stocks opening higher, driven by President Trump's announced pause on Iran attacks. While the energy sector is seeing a pullback in oil prices, financials are bouncing back despite Goldman Sachs cutting price targets on big banks due to Basel III changes. Additionally, senators are introducing a bill to ban sports betting on prediction markets.