US stocks were mixed with the S&P 500 and Nasdaq Composite closing at record highs as investors assessed US-European Union (EU) trade talks and prepared for key market catalysts this week.
President Donald Trump and European Commission President Ursula Von Der Leyen sealed a new trade framework that will reduce EU import tariffs to 15%. However, France criticized the agreement as a form of ‘surrender’.
The agreement also followed the announcement of US trade talks with Japan and Indonesia.
Meanwhile, top US and Chinese economic officials will resume talks in Stockholm to resolve the trade war between the world’s two largest economies.
The S&P 500 index rose 0.02% to 6,389.77 points, the technology-focused Nasdaq jumped 0.33% to 21,178.58 points, while the Dow Jones fell 0.14% to 44,837.56 points.
Investors are now awaiting the Federal Reserve's (Fed) monetary policy decision early Thursday morning with expectations that the central bank will keep interest rates unchanged despite growing political pressure to cut them.
In other developments, this week is expected to see the release of key economic data including Personal Consumption Expenditures (PCE) and the NFP employment report to assess the impact of tariffs on inflation and the labor market.
In addition, major technology companies such as Meta, Microsoft, Amazon and Apple are expected to present their earnings reports that have the potential to influence market sentiment.
Trading volume on US exchanges recorded $17.58 billion compared to an average of $17.84 billion over the full 20 trading days.
