Record Highs Amid Trade Deals and Tech Earnings Buzz
With the S&P 500 and Nasdaq hitting record highs, optimism thrives as a U.S.-EU trade pact concludes and major tech earnings loom. Key players like the 'Magnificent Seven' will shape market momentum. Meanwhile, U.S.-China trade talks continue, and the Fed's policy meeting is keenly anticipated amid economic indicators.
The S&P 500 and Nasdaq opened at new record highs, fueled by optimism from a concluded U.S.-EU trade deal. The Dow, while falling slightly, edged closer to a milestone. A crucial week lies ahead with megacap earnings reports, a significant Fed meeting, and looming U.S. tariff deadlines.
Key developments include President Trump's announcement with European Commission President Ursula von der Leyen of reduced EU tariffs, boosting Wall Street confidence. Remarkable gains led by recent deals with Japan, Indonesia, and the Philippines face tests as major technology companies prepare to release their earnings.
Notable incidents involve Alphabet's strategic spending boost, Tesla's chip sourcing agreement with Samsung, and extensive trade negotiations with China. The Fed's two-day policy meetings are pivotal, with expectations for steady interest rates. New economic data will also assess the impact of tariffs on inflation and employment.
(With inputs from agencies.)
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