Market Milestones: S&P 500 and Nasdaq Reach New Records

The S&P 500 and the Nasdaq achieved record closing highs on Monday, buoyed by Alphabet and other large-cap stocks. This increase comes ahead of several key earnings reports this week, and as investors hope potential trade agreements might mitigate the economic impacts of U.S. tariffs under Trump's administration.

Verizon's shares soared by over 4% following a boost to its annual profit forecast. The telecommunications leader's solid performance aligns with expectations of a 6.7% increase in S&P 500 company earnings for the second quarter, largely driven by the tech sector.

Despite looming tariff threats, U.S. Commerce Secretary Howard Lutnick expressed confidence in securing a trade deal with the EU. Meanwhile, investors anticipate further insights from upcoming economic data and Federal Reserve Chair Jerome Powell's Tuesday speech, which may signal potential shifts in interest rates.

(With inputs from agencies.)