The S&P 500 ended Monday near the flatline as traders looked past a trade deal announced between the U.S. and the European Union, and a big week of market catalysts — including the Federal Reserve’s rate decision — loomed.
The broad market index added 0.02% and closed at 6,389.77. The S&P 500 hit a fresh record shortly after the opening bell, but the index was just up 0.2% at its session high as traders’ enthusiasm for the deal with the EU was muted. The Dow Jones Industrial Average slipped 64.36 points, or 0.14%, to end at 44,837.56. The Nasdaq Composite added 0.33% and settled at 21,178.58. The technology-heavy index also hit a record on Monday.
Investors are gearing up for a slew of data, including the busiest week of the earnings season so far, the Federal Reserve’s interest rate decision and Friday’s jobs report. More than 150 companies in the S&P 500 are due to post their quarterly results, including “Magnificent Seven” names Meta Platforms and Microsoft on Wednesday, followed by Amazon and Apple on Thursday. Investors will be listening for companies’ comments on AI spending for direction on whether big investments in hyperscalers this year are justified.
The Fed will also hold its two-day policy meeting, concluding on Wednesday. Although the central bank is expected to keep its key short-term interest rate at its current target range of 4.25% to 4.5%, traders will be looking for clues about whether a rate cut could be on the table at the September meeting.
On Friday, investors will also parse the key July jobs report for insight into the health of the economy. The report is expected to show the economy added 102,000 jobs in July, down from 147,000 in June. Friday is also President Donald Trump’s deadline for trading partners to begin paying tariffs.
“With the market pushing to new highs and volatility falling to its lowest levels since February, two of the major challenges facing investors are complacency and the urge to chase the market,” said Daniel Skelly, managing director at Morgan Stanley Wealth Management. “Despite recent positive developments on the trade front, the full impact of tariffs remains a question mark.”
On Sunday, President Donald Trump announced that the U.S. has reached an agreement with the European Union to lower tariffs to 15%. The president had previously threatened 30% tariffs on most imported goods from the U.S.’s largest trading partner. On Monday, Trump said that the global baseline tariff for countries that have not renegotiated with the U.S. will likely be between 15% to 20%.
“This week is one traders dream of and also fear. There are so many adventures from which to choose,” said Jay Woods, chief global strategist at Freedom Capital Markets. “What will be the biggest headline between the FOMC decision and the Fed Chair press conference?”
Other economic data on deck this week includes the Job Openings and Labor Turnover Survey, or JOLTS, on Tuesday, ADP’s private payrolls report on Wednesday and weekly jobless claims Thursday.
Source: https://www.cnbc.com/2025/07/27/stock-market-today-live-updates.html