Markets traded mixed Monday as investors weighed President Trump's announcement that the U.S. would guide stranded ships through the Strait of Hormuz without providing military escorts. Crude prices inched higher despite the administration signaling a hands-off approach to maritime security in the critical oil transit chokepoint.

The president's plan offers navigational assistance to shippers while leaving protection arrangements to the shipping companies themselves. The Hormuz Strait handles roughly one-fifth of global oil consumption, and the compromise position failed to fully reassure energy markets. Traders remain cautious despite the administration attempting to avoid deeper military entanglement in Middle Eastern tensions.

The week ahead brings a slate of earnings reports from consumer giants, with Friday's jobs data serving as the marquee event. Investors will parse the labor market numbers for signals about the economic trajectory as they navigate ongoing geopolitical uncertainty.