Oil, Energy Stocks Rise, Dollar Rallies On US-EU Trade Deal: What's Moving Markets Monday?

Wall Street opened the week slightly higher, led by gains in energy stocks, while the U.S. dollar posted its strongest performance in over two months, as markets reacted to the U.S.-EU trade deal struck over the weekend.

The S&P 500 ticked up 0.1% to a new record of 6,400 points, while the Nasdaq 100 climbed 0.5%, breaking above all-time highs at 23,380 points. Nvidia Corp. NVDA continued its rally, hitting a new record of $175 per share and reaching a staggering $4.27 trillion market capitalization.

Under the new trade agreement, the U.S. will impose a 15% tariff on EU imports, including pharmaceuticals and automobiles. Certain sectors such as steel, aluminum, and copper will face steeper tariffs of up to 50%.

In return, the European Union has pledged to purchase $750 billion worth of U.S. energy exports over the next three years—up from roughly $100 billion annually—and to invest an additional $600 billion in the United States.

The euro dropped 1.2% against the dollar, marking its worst day since May 12, while Eurozone equities also slumped.

Oil prices jumped 2.2% to $66.5 per barrel, fueled by Europe’s energy commitment and renewed geopolitical tensions after President Donald Trump moved up a deadline for Russia to agree to a truce in Ukraine. Trump warned that Russia has 10–12 days to comply or face 100% “secondary tariffs,” raising fears of potential crude supply disruptions.

The energy sector led the market, while utilities lagged with a 1% decline.

Gold slid 0.8% to $3,313 per ounce as the dollar strengthened. Bitcoin BTC/USD dropped 1.2% to $118,000.

Monday’s Performance In Major US Indices, ETFs

According to Benzinga Pro data:

• The Vanguard S&P 500 ETF VOO flattened at $585.91.
• The SPDR Dow Jones Industrial Average DIA was steady at $449.20.
• The tech-heavy Invesco QQQ Trust Series QQQ rose 0.4% to $568.24.
• The iShares Russell 2000 ETF IWM inched 0.1% higher to $224.59.
• The Energy Care Select Sector SPDR Fund XLE outperformed, up 1.1%; the Utilities Select Sector SPDR Fund XLU lagged, down 0.8%.

Monday’s Stock Movers

• Stocks moving on earnings reports included Bank of Hawaii Corp. BOH, down 6%, Revvity Inc. RVTY down 8.6% and Enterprise Products Partners L.P. EPD, down 1.3%.
• Tesla Inc. TSLA jumped 4% after the U.S. announced lower-than-expected tariffs on European goods, including autos, and following CEO Elon Musk’s revelation of a $16.5 billion deal with Samsung Electronics to produce next-generation chips.
• Top-performing energy stocks within the Energy Select Sector SPDR Fund included Devon Energy Corporation DVN, which rose 3.5%; Diamondback Energy Inc. FANG, up 3.4%; APA Corporation APA, gaining 3.0%; EOG Resources Inc. EOG, up 2.5% and ConocoPhillips COP, up 2.2%.
• Nike Inc. NKE rose 3.9% to $79.25 after J.P. Morgan upgraded the stock from Neutral to Overweight and raised its price target to $93 from $64.

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