Nasdaq, S&P 500 End Choppy Trading Day At New Record Closing Highs

WASHINGTON (dpa-AFX) - After moving modestly higher early in the session, stocks turned in a relatively lackluster performance over the course of the trading day on Monday. Despite the choppy trading, the Nasdaq and the S&P 500 reached new record closing highs.The Nasdaq rose 70.27 points or 0.3 percent to 21,178.58 and the S&P 500 inched up 1.13 points or less than a tenth of percent to 6,389.77, while the narrower Dow edged down 64.36 points or 0.1 percent to 44,837.56.The early strength on Wall Street came amid news the US and the European Union struck a last-minute trade agreement and reports suggesting the US and China are likely to extend their tariff truce for another 90 days.The US-EU agreement includes a 15 percent tariff on European goods, down from the 30 percent originally proposed.The EU has also committed to purchasing $750 billion worth of US energy and investing $600 billion more into the American economy as part of the agreement.However, buying interest appears somewhat subdued ahead of the Federal Reserve's monetary policy announcement later this week.While the Fed is widely expected to leave interest rates unchanged, the announcement could impact the outlook for rates.The Labor Department's monthly jobs report is also likely to be in focus in the coming days along with earnings news from Magnificent Seven members Apple (AAPL), Amazon (AMZN), Microsoft (MSFT) and Meta Platforms (META).Sector NewsEnergy stocks turned in some of the market's best performances on the day, with the NYSE Arca Oil Index and the Philadelphia Oil Service Index jumping by 2.1 percent and 1.8 percent, respectively.The strength among energy stocks came as the price of crude oil moved sharply higher in reaction to the US-EU trade deal.Significant strength was also visible among semiconductor stocks, as reflected by the 1.6 percent gain posted by the Philadelphia Semiconductor Index.Computer hardware stocks also saw considerable strength on the day, while gold, steel and commercial real estate stocks showed notable moves to the downside.Other MarketsIn overseas trading, stock markets across the Asia-Pacific region turned into a mixed performance during trading on Monday. Japan's Nikkei 225 Index slumped by 1.1 percent, while Hong Kong's Hang Index climbed by 0.7 percent.Meanwhile, the major European markets moved mostly lower over the course of the session. While the German DAX Index slid by 1.0 percent, the UK's FTSE 100 Index the French CAC 40 Index both fell by 0.4 percent.In the bond market, treasuries moved to the downside on the day. Subsequently, the yield on the benchmark ten-year note, which moves opposite of its price, rose by 3.4 basis points at 4,420 percent.Copyright(c) 2025 RTTNews.com. All Rights Reserved

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