U.S. stocks ended Monday on a mixed note as investors largely shrugged off a newly announced trade agreement between the United States and the European Union (EU).
The Dow Jones Industrial Average dipped 64.36 points, or 0.14 percent, to close at 44,837.56. The Standard and Poor's 500 edged up 1.13 points, or 0.02 percent, to 6,389.77, while the Nasdaq Composite rose 70.27 points, or 0.33 percent, to 21,178.58.
Most sectors within the Standard and Poor's 500 finished in negative territory, with real estate and materials falling the most. Energy and technology led the gainers by going up 1.15 percent and 0.77 percent, respectively. The trade deal announced on Sunday reduces tariffs on most EU imports to 15 percent, down from the 30 percent initially threatened by U.S. President Donald Trump.
In the tech space, Tesla gained 3 percent after revealing a 16.5 billion dollar deal to source advanced AI chips from Samsung. Nvidia and Broadcom both rose about 1.5 percent, while Apple, Amazon and Meta also moved higher. Microsoft and Alphabet slipped modestly.
Investors are looking ahead to a busy week of economic data and corporate earnings. Reports on job openings, private payrolls, and jobless claims are due, along with results from more than 150 Standard and Poor's 500 companies.
Tech heavyweights Meta and Microsoft will report Wednesday, followed by Amazon and Apple on Thursday. Markets will closely watch commentary on AI investment trends.
The Federal Reserve will begin its two-day policy meeting Tuesday, with a decision expected Wednesday. While no change in interest rates is anticipated, traders are keen for any signals about the possibility of a rate cut in September.
"This week is one traders dream of and also fear. There are so many adventures from which to choose," said Jay Woods, chief global strategist at Freedom Capital Markets.
U.S. stocks little changed at start of busy week
U.S. stocks little changed at start of busy week
