CNBC Daily Open: Back to the negotiating table

Hello, this is Anniek Bao writing to you from Singapore. Welcome to another edition of CNBC's Daily Open.

Markets began the week trading a weapon that was never fired.

U.S. President Donald Trump said negotiations with Iran will begin Monday after calling off another round of military strikes on the country, once again raising hopes for a diplomatic end to a conflict that has upended global energy supplies.

The reversal came a day after he threatened to launch what would have been "the biggest attack since World War II."

Analysts caution that diplomatic progress may continue to be punctuated by periodic military flare-ups, with miscalculation by either side potentially triggering renewed escalation.

U.S. President Donald Trump said negotiations with Iran will begin Monday after pausing hostilities against the country, renewing hopes for a diplomatic resolution to the conflict.

The United Kingdom Maritime Trade Operations reported that a tanker's master witnessed an explosion in close proximity to the vessel near Khasab, Oman, at the mouth of the Strait of Hormuz, late Sunday.

Blowout earnings from Exxon Mobil, Chevron and Valero last week showed just how much the war minted short-term profits — ETFs targeting refiners and crude volatility were among the big six-month winners — but investing pros caution that geopolitics is a risky trade to bank on, in a market where crude has peaked near $120, dipped to $72, and seesawed sometimes daily since early March.

Ukrainian drones hit a Wildberries warehouse in Russia's Samara region — some 800 km from the front — while a strike on a residential building killed two in Engels, governors said. Russia's defense ministry claimed it downed 635 drones overnight.

Meanwhile, Ukrainian officials and security experts fear a Russian assault on energy infrastructure could make this winter the toughest test of the war yet.

Japan's finance ministry confirmed Monday it had conducted a joint yen-buying intervention with the U.S. Treasury on Friday — the first such coordinated action in 28 years — saying it "will not hesitate" to do it again, after the currency slid to fresh 40-year lows.

Japan has been struggling to curb a slide that pushes up import prices, stokes inflation, and weighs on Prime Minister Sanae Takaichi's approval ratings.

AstraZeneca is considering a merger with Bristol Myers Squibb that would create a roughly $400 billion company — one of the largest deals in history — the Financial Times reported, though it's unclear whether the tie-up will come together.

The two have held talks in recent months, and a deal could still be delayed or fall apart, according to the report.

— Anniek Bao

An exam leak in India exposed a Gen Z jobs crisis that goes much deeper

India's youth unemployment crisis has become one of the biggest vulnerabilities for Prime Minister Narendra Modi's government, exposing the gap between the country's economic ambitions and the reality facing millions of young graduates.

The frustration erupted into the open this month after a leaked paper forced a retest of India's ultra-competitive medical entrance exam, prompting nationwide student protests led by a viral, social media-focused youth movement called the Cockroach Janta Party.

While the exam scandal was the immediate trigger, economists say the demonstrations reflected something much deeper: a generation struggling to find secure, well-paying jobs despite spending years competing for an education.

— Priyanka Salve, Raksha Murali