US Stocks Hold Steady After S&P 500 and Nasdaq Reach Record Highs

US stock futures showed minimal movement on Monday after the S&P 500 and Nasdaq Composite reached new all-time and closing highs in the previous session. S&P 500 and Nasdaq 100 futures each rose about 0.1%, while Dow Jones Industrial Average futures edged up by six points.

The S&P 500 marked its 15th record close of 2025, finishing just above the flatline, while the Dow slipped 0.1% and the Nasdaq gained 0.3%. The modest gains came after President Donald Trump announced a trade agreement with the European Union, introducing 15% tariffs on most European imports, including automobiles. President Trump also stated that the baseline global tariff rate would be "in the range of 15 to 20%."

Investors are watching for further trade developments, particularly ahead of Friday's tariff deadline, as US and Chinese officials held talks in Stockholm on Monday. Tariffs and inflation remain central concerns, with the Federal Reserve expected to announce its interest rate decision on Wednesday. Policymakers are widely anticipated to keep rates steady at 4.25% to 4.5%.

This week is also the busiest of the earnings season, with over 150 S&P 500 companies set to report results, including major technology firms such as Meta Platforms, Microsoft, Amazon, and Apple. Other notable companies reporting include UPS, Procter & Gamble, Merck, and Boeing. Louis Navellier, founder and chief investment officer at Navellier & Associates, said, "If we get no surprises in earnings and some dovish comments by the Fed, it's likely we'll see yet more new highs by the end of the week."

According to FactSet, 170 S&P 500 companies have already reported quarterly results, with more than 83% surpassing expectations. Key economic data releases this week include the Job Openings and Labor Turnover Survey (JOLTS), the ADP private payrolls report, and weekly jobless claims. July's nonfarm payrolls report, due Friday, is expected to show 100,000 jobs added, down from 147,000 in June, with the unemployment rate projected to rise slightly to 4.2%.