Trump's market-moving post, the new DHS chief, Gap's AI push and more in Morning Squawk

• The Dow, S&P 500, and Nasdaq each gained over 1% following Trump's Iran announcement, while small-cap stocks rebounded after the Russell 2000 fell into correction territory last week
• Brent crude oil dropped below $100 per barrel, though Chevron CEO Mike Wirth warned the supply disruption from the Strait of Hormuz closure may not be fully priced in
• Gap partnered with Google to become the first fashion retailer offering direct checkout within the Gemini AI platform, as retailers adapt to AI-driven shopping replacing traditional search

Market Summary: Trump Iran Post Sparks Rally, Energy Outlook, Gap's AI Push

Key Market Developments:

President Donald Trump announced "productive" talks between the U.S. and Iran regarding ending the ongoing conflict, triggering a significant market rally. Major indices surged, with the Dow, S&P 500, and Nasdaq each gaining over 1% on Monday. Small-cap stocks notably rebounded after entering correction territory last week. Brent crude oil fell below $100 per barrel following the announcement. However, some analysts attributed the rally to potential market manipulation, noting unusual trading volume spikes in oil and stock futures immediately preceding Trump's social media post.

Energy Sector Insights:

At S&P Global's CERAWeek conference in Houston, Chevron CEO Mike Wirth warned that oil supply disruptions from the Strait of Hormuz closure aren't fully priced in, noting the market is trading on "scant information" and "perception." Energy Secretary Chris Wright indicated the White House plans to release more oil to combat high fuel prices, while Interior Secretary Doug Burgum reported increased Asian demand for U.S. energy.

Corporate and Technology News:

Gap Inc. announced a pioneering partnership with Google, becoming the first fashion retailer to offer direct checkout through Google's Gemini AI platform. The move reflects retailers adapting marketing strategies as AI-powered shopping disrupts traditional search-based commerce.

Political Developments:

The Senate confirmed Senator Markwayne Mullin as DHS Secretary in a 54-45 vote, succeeding fired Kristi Noem. Mullin inherits a department currently shut down amid immigration enforcement controversies.

Alternative Investment:

Pro Padel League raised $75 million in Series A funding, signaling growing investor interest in racket sports beyond pickleball.