Wall Street Live: Dow Jones, S&P 500, Nasdaq rise after US-EU trade deal

US stock indices were mixed on Monday as investors assessed the US-EU trade deal ahead of the Federal Reserve’s rate decision.

As of 11:30 AM Eastern Time, the S&P 500 was virtually unchanged, the Dow Jones Industrial Average was down less than 0.1%, and the Nasdaq Composite was 0.2% higher.

As of 10:15 AM Eastern Time, the S&P 500 added 0.2%, while the Nasdaq Composite was 0.4% higher. The Dow Jones Industrial Average gained less than 0.1%.

At the open, the Dow Jones Industrial Average rose 45.1 points, or 0.10%, to 44946.98. The S&P 500 rose 9.0 points, or 0.14%, to 6397.69​, while the Nasdaq Composite rose 68.1 points, or 0.32%, to 21176.401.

In the bond market, the yield on the 10-year Treasury edged up to 4.41% from 4.40% late on Friday. The 2-year Treasury yield rose to 3.93% from 3.91%.

As per the trade deal, a baseline tariff of 15% will be imposed on the imports from the EU.

Meanwhile, US negotiators are in Stockholm this week for another round of trade talks with China.

Besides ongoing trade talks, traders this week are looking ahead to earnings from big technology companies incaluding Apple, Microsoft and Meta Platforms.

Investors will also see the Federal Reserve’s interest rate decision later in the week.

While US President Donald Trump has badgered Fed Chair Jerome Powell to cut interest rates, the central bank is widely expected to keep them unchanged.

Gainers and Losers

Electric vehicle maker Tesla soared 3.5% after CEO Elon Musk said it signed a deal with Samsung Electronics that could be worth more than $16.5 billion to provide chips for the company.

Shares of chip company Advanced Micro Devices jumped 3.7%, and server-maker Super Micro Computer climbed 6.7%.

Bullion

Gold prices fell on Monday as the US dollar appreciated as a US-European Union trade deal boosted risk appetite.

As of 10:10 AM ET (1410 GMT), spot gold fell 1% to $3,304.87 per ounce. US gold futures were down 0.6% at $3,320.20 per ounce.

Among other metals, spot silver was down 0.2% at $38.05 per ounce, while platinum fell 1.8% at $1,375.88 and palladium gained 0.5% to $1,226.25.

Oil prices surged on Monday after a trade deal between the US and the EU and President Trump’s announcement that he would cut the deadline for Russia to end its war in Ukraine.

Brent crude futures were up $1.36, or 2%, at $69.80 a barrel by 10:58 AM EDT (1458 GMT). US West Texas Intermediate crude rose $1.33, or 2%, at $66.49.