S&P 500 Edges Higher as Investors Weigh U.S.-EU Trade Deal and Await Key Economic Updates

U.S. stocks ended Monday with mixed results as market participants assessed the impact of a newly announced trade agreement between the United States and the European Union. The S&P 500 gained less than 0.1%, while the Nasdaq Composite rose 0.3%, both reaching record highs. The Dow Jones Industrial Average slipped by 0.1%.

Super Micro Computer led S&P 500 gains, with its shares climbing over 10%. The server manufacturer is scheduled to report quarterly results on August 5. The stock's advance followed reports that President Donald Trump eased restrictions on technology exports to China to support ongoing trade negotiations.

Advanced Micro Devices (AMD) shares rose 4.3% after the company reportedly increased prices for its Instinct MI350 AI chip, signaling confidence in its competitiveness against rival products. UBS analysts raised their price target for AMD, citing improved expectations for the upcoming earnings report.

Nike shares advanced 3.9% after JPMorgan upgraded the stock to "overweight" from "neutral," citing progress in the company's recovery plan and growth opportunities related to next year's soccer World Cup in the U.S.

Albemarle, the world's largest lithium producer, posted the steepest decline among S&P 500 stocks, falling nearly 11%. The drop erased recent gains that followed news of a Chinese lithium miner suspending operations. Albemarle and other lithium producers continue to face challenges from lower prices and are working to reduce costs.

Revvity shares declined 8.3% after the medical device company reported quarterly results that exceeded analyst expectations but lowered its full-year profit outlook due to anticipated weakness in its immunodiagnostics business in China.

Centene shares fell 5.4% after Cantor Fitzgerald downgraded the health insurer to "neutral" from "overweight," citing challenges in the healthcare exchange and Medicaid markets. Earlier in July, Centene withdrew its full-year guidance, referencing cost and enrollment pressures.

Investors are now awaiting a series of key economic updates, including the Federal Reserve's interest rate decision, jobs and inflation data, and earnings reports from major technology companies.