U.S. stocks kicked off Monday in mixed moods, despite an initial rally following the announcement of a new trade agreement between the U.S. and the EU. At the time of publication, the US500 is up 0.10%, the US100 has gained 0.40%, while the small-cap index US2000 is down 0.05%. The strengthening U.S. dollar is weighing on equity markets.
The main story of the day is, of course, the trade deal with the European Union announced by Trump on Sunday. However, investor optimism quickly faded after a closer look at the announced agreement. EU Commission President von der Leyen made vague promises regarding potential investments and purchases from the United States. This is also only a preliminary agreement with no legal foundation to ensure those promises become reality. Moreover, the deal excludes key sectors such as pharmaceuticals and steel.
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Create account Try a demo Download mobile app Download mobile appMost sectors within the US500 index are in the red today, except for energy and new technologies. The U.S. dollar continues to rally strongly; the USDIDX is up 0.70% to 98,000 points. Investor attention will now turn to key upcoming quarterly earnings releases and the Fed meeting on Wednesday.
US500
The US500 index opened with a gap to the upside. However, since then, futures have pared some of the initial gains. The index is currently up 0.10% at 6,430 points.
Company News
Tesla (TSLA.US) rose 3.50% after confirming a $16.5B semiconductor deal with Samsung, running through 2033. The Texas fab will produce Tesla’s next-gen AI6 chips, with Elon Musk personally overseeing progress.
Alibaba (BABA.US) gained 1.92% after unveiling its AI-powered smart glasses, “Quark AI Glasses,” set to launch in China in late 2025. Powered by Alibaba’s own language model, the device targets the growing AI wearables market.
Atai Life Sciences (ATAI.US) dropped 12% after partner Recognify Life Sciences’ Phase 2b trial for inidascamine failed to meet its primary endpoint for schizophrenia-related cognitive impairment, prompting a refocus on Atai’s psychedelic pipeline.
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