TLDR

MARKET RECAP → Stocks closed higher Monday led by big tech, extending last week’s gains.

⚙️ STEEL MEETS RARE EARTHS → Cleveland-Cliffs (CLF) jumped 7% after unveiling plans to process rare earths and critical minerals, expanding from steel into U.S. strategic supply chains.

🌩️ CLOUD CRASH → An AWS outage took down Netflix (NFLX), DoorDash (DASH), and Slack, shaking confidence in Amazon’s (AMZN) cloud dominance as rivals quietly gain ground.

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MARKETS

Market Snapshot

Today’s S&P 500 Heatmap

Notable Earnings This Week

ENERGY

Steel Meets Rare Earths

Gemini

⚙️ Cliffs pivots to minerals. Cleveland-Cliffs (CLF) announced plans to expand into rare earth and critical mineral processing, positioning itself as a domestic supplier for EVs, defense tech, and clean energy manufacturing.

🇺🇸 Made-in-America metals. The company will leverage existing steel infrastructure to refine elements like neodymium and dysprosium—reducing U.S. reliance on China and aligning with federal supply-chain initiatives.

📈 Stock gets a boost. Shares rose nearly 7% on the news, as investors cheered diversification beyond traditional steelmaking and exposure to high-demand sectors.

TECH

Cloud Crash

Gemini

🌩️ AWS goes dark. A widespread outage at Amazon Web Services (AMZN) knocked out major websites Monday, including Netflix (NFLX), DoorDash (DASH), and Slack, disrupting millions of users worldwide.

⚙️ Root cause under review. Amazon cited a “network configuration issue” in its U.S.-East-1 region—the same hub behind several past incidents. Most services were restored within hours, but analysts say it exposes fragility in cloud dependence.

📉 Market jitters. Amazon shares dipped ~2%, while rival cloud stocks like Microsoft (MSFT) and Oracle (ORCL) edged higher as traders weighed reliability risks in Amazon’s core business.

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White House economic advisor Hassett says shutdown could end this week (CNBC)

U.S. and Australia sign critical minerals agreement with $8.5 billion project pipeline (CNBC)

Army Corps of Engineers pausing $11 billion in projects over shutdown, Trump budget chief says (CNBC)

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