US stocks closed at record highs on Monday, led by a boost from the EU-US trade deal. The S&P 500 edged higher to a sixth straight daily closing record, while the Nasdaq also advanced to a new record close. Investors are watching for the US Federal Reserve’s policy announcement and upcoming corporate earnings.
The deal announced between US President Donald Trump and European Commission President Ursula von der Leyen slashes EU import tariffs to 15%, halving the previously threatened rate. However, France has denounced it as a “submission”.
US trade officials have resumed talks with Chinese counterparts in Stockholm to resolve a trade war between the world’s two largest economies.
The Dow Jones Industrial Average fell 64 points, or 0.14%, while the S&P 500 gained 1.13 points, or 0.02%. The Nasdaq Composite rose 70.27 points, or 0.33%.
Nike shares climbed 3.89% after being upgraded to “overweight” by J.P. Morgan, while energy stocks were boosted by a jump in oil prices.
The Fed is expected to keep US interest rates unchanged, despite pressure from Trump. Investors are awaiting the release of economic indicators, including the Personal Consumption Expenditure report and government payrolls data.
Volume on US exchanges was 17.58 billion shares, with declining issues outnumbering advancers by a ratio of 1.81-to-1 on the NYSE and 1.48-to-1 on the Nasdaq.
Source: https://www.reuters.com/business/autos-transportation/sp-nasdaq-again-close-record-highs-trade-choppy-2025-07-28