Monday's US trading session closed with a mix of gains and losses as investors digested a landmark US-EU trade deal and braced for a busy week of data and earnings.
The Dow Jones Industrial Average slipped 64.36 points (0.14%) to finish at 44,837.56. In contrast, the S&P 500 edged up 1.13 points (0.02%) to 6,389.77, while the Nasdaq Composite rallied 70.27 points (0.33%) to close at 21,178.58.
Of the 11 primary S&P 500 sectors, eight ended in the red. Real estate led the decliners with a 1.75% drop, followed by materials at –1.44%. On the upside, energy climbed 1.15% and technology added 0.77%, highlighting where investors saw opportunities.
The backdrop for the session was a US-EU agreement announced Sunday that slashes tariffs on most EU imports from a threatened 30% to 15%. The deal offers a reprieve for global supply chains and may signal smoother trade ties ahead.
In tech news, Tesla topped headlines after revealing a $16.5 billion pact to source advanced AI chips from Samsung, sending its shares up 3%. Nvidia and Broadcom also gained around 1.5%, while Apple, Amazon, and Meta lifted the broader tech complex. Microsoft and Alphabet dipped slightly.
Looking forward, traders are eyeing key economic reports, including job openings, private payrolls, and weekly jobless claims. More than 150 S&P 500 companies will report earnings this week, led by Meta and Microsoft on Wednesday, then Amazon and Apple on Thursday. AI investment trends will be a focal point.
The Federal Reserve kicks off its two-day meeting on Tuesday, with a rate decision due Wednesday. While no change is expected, markets will scan every word for clues on a possible rate cut in September, keeping volatility on the horizon.
Reference(s):
cgtn.com
