FX.co ★ US Stocks Waver Ahead of Big Tech Earnings, Fed

U.S. equities remained largely unchanged in the afternoon session as investors evaluated the implications of a new trade accord between the U.S. and the European Union while gearing up for a week filled with significant economic data and corporate earnings reports. The S&P 500 hovered near its record highs, with the Nasdaq gaining 0.2%, while the Dow experienced a slight decline. President Trump announced the establishment of a tariff agreement with the EU, reducing the baseline tariff to 15% from the previously threatened 30%. Simultaneously, there was a growing optimism regarding a potential trade truce between the U.S. and China. Despite this, overall market enthusiasm was tempered by persistent uncertainties surrounding the broader effects of tariffs. The energy sector emerged as the leader in gains, with Exxon Mobil increasing by 0.9% and Chevron by 0.6%. Conversely, the materials sector lagged, marking the most significant decline. Investors are now turning their focus towards earnings reports from major technology companies, including Meta, Microsoft, Apple, and Amazon. Additionally, attention is riveted on Wednesday's Federal Reserve meeting, where it is anticipated that interest rates will remain unchanged, but guidance on a possible rate cut in September will be carefully scrutinized.