WASHINGTON (dpa-AFX) - Extending the upward trend seen over the past several sessions, stocks have moved modestly higher during trading on Monday. With the continued advance, the Nasdaq and the S&P 500 have once again reached new record intraday highs.
Currently, the Nasdaq is up 66.81 points or 0.3 percent at 21,175.13 and the S&P 500 is up 4.34 points or 0.1 percent at 6,392.98. The narrower Dow, on the other hand, is down 23.49 points or 0.1 percent at 44,878.43.
The modest strength on Wall Street comes amid news the U.S. and the European Union struck a last-minute trade agreement and reports suggested the U.S. and China are likely to extend their tariff truce for another 90 days.
The U.S.-EU agreement includes a 15 percent tariff on European goods, down from the 30 percent originally proposed.
The EU has also committed to purchasing $750 billion worth of U.S. energy and investing $600 billion more into the American economy as part of the agreement.
However, buying interest appears somewhat subdued ahead of the Federal Reserve's monetary policy announcement later this week.
While the Fed is widely expected to leave interest rates unchanged, the announcement could impact the outlook for rates.
The Labor Department's monthly jobs report is also likely to be in focus in the coming days along with earnings news from Magnificent Seven members Apple (AAPL), Amazon (AMZN), Microsoft (MSFT) and Meta Platforms (META).
Sector News
Energy stocks are turning in some of the market's best performances on the day, with the NYSE Arca Oil Index and the Philadelphia Oil Service Index climbing by 1.7 percent and 1.5 percent, respectively.
The strength among energy stocks comes as the price of crude oil has moved sharply higher in reaction to the U.S.-EU trade deal.
Significant strength has also emerged among semiconductor stocks, as reflected by the 1.4 percent gain being posted by the Philadelphia Semiconductor Index.
Computer hardware stocks are also seeing considerable strength on the day, while gold and steel stocks have shown notable moves to the downside.
Other Markets
In overseas trading, stock markets across the Asia-Pacific region turned in a mixed performance during trading on Monday. Japan's Nikkei 225 Index slumped by 1.1 percent, while Hong Kong's Hang Index climbed by 0.7 percent.
Meanwhile, the major European markets have moved to the downside on the day. While the German DAX Index is down by 0.9 percent, the U.K.'s FTSE 100 Index is down by 0.6 percent and the French CAC 40 Index is down by 0.4 percent.
In the bond market, treasuries have moved modestly lower. Subsequently, the yield on the benchmark ten-year note, which moves opposite of its price, is up by 2.2 basis points at 4.408 percent.
Copyright(c) 2025 RTTNews.com. All Rights Reserved
Copyright RTT News/dpa-AFX
© 2025 AFX News
