The S&P 500 and the tech-heavy Nasdaq gained about 0.2% and nearly 0.4%, respectively, following last week’s record-setting rally in growth names. The Dow Jones Industrial Average (^DJI) gained around 0.2% after the blue-chip benchmark finished slightly negative.

This week sees investor focus dominated by two topics: Clarity on US trade policy as the implementation of tariffs looms, and earnings from tech heavyweights as Wall Street eyes record-high market valuations.

On the trade front, the EU is said to be stepping up the scope of its retaliation if it fails to strike a trade pact with the US. The bloc is open to an unbalanced deal to break a talks deadlock before the Aug. 1 implementation of Trump’s tariffs, per Bloomberg. But Trump’s increasingly hardline stance and EU member opposition to concessions are denting hopes for an agreement.

Read more: The latest on Trump’s tariffs

Over the weekend, Commerce Secretary Howard Lutnick reaffirmed the White House’s August deadline for new tariffs, calling it a “hard stop” for compliance — before saying that he’s looking at continued conversation beyond that date.

Meanwhile, Domino’s Pizza (DPZ) second quarter sales beat estimates as new products drew buyers, helping offset the impact of tariff uncertainty. Reports from Verizon Communications (VZ) and Cleveland-Cliffs (CLF) are among other highlights on Monday’s docket.

Earnings season shifts into high gear this week with Alphabet (GOOG) and Tesla (TSLA) set to release updates on Wednesday — the first of the “Magnificent Seven” to report for the second quarter. Strong results could validate stretched valuations as the market’s focus on AI growth is once again attracting comparisons to historic tech bubbles.

Read more: Full earnings coverage in our live blog

Of the 59 S&P 500 companies that have already released results, 86% have outpaced Wall Street consensus estimates. That is a historically strong beat rate, albeit off modest expectations.

LIVE

7 updates

The S&P 500 and the tech-heavy Nasdaq gained about 0.2% and nearly 0.4%, respectively, following last week’s record-setting rally in growth names. The Dow Jones Industrial Average (^DJI) gained around 0.2% after the blue-chip benchmark finished slightly negative.

This week sees investor focus dominated by two topics: Clarity on US trade policy as the implementation of tariffs looms, and earnings from tech heavyweights as Wall Street eyes record-high market valuations.

On the trade front, the EU is said to be stepping up the scope of its retaliation if it fails to strike a trade pact with the US. The bloc is open to an unbalanced deal to break a talks deadlock before the Aug. 1 implementation of Trump’s tariffs, per Bloomberg. But Trump’s increasingly hardline stance and EU member opposition to concessions are denting hopes for an agreement.

Read more: The latest on Trump’s tariffs

Over the weekend, Commerce Secretary Howard Lutnick reaffirmed the White House’s August deadline for new tariffs, calling it a “hard stop” for compliance — before saying that he’s looking at continued conversation beyond that date.

Meanwhile, Domino’s Pizza (DPZ) second quarter sales beat estimates as new products drew buyers, helping offset the impact of tariff uncertainty. Reports from Verizon Communications (VZ) and Cleveland-Cliffs (CLF) are among other highlights on Monday’s docket.

Earnings season shifts into high gear this week with Alphabet (GOOG) and Tesla (TSLA) set to release updates on Wednesday — the first of the “Magnificent Seven” to report for the second quarter. Strong results could validate stretched valuations as the market’s focus on AI growth is once again attracting comparisons to historic tech bubbles.

Read more: Full earnings coverage in our live blog

Of the 59 S&P 500 companies that have already released results, 86% have outpaced Wall Street consensus estimates. That is a historically strong beat rate, albeit off modest expectations.

LIVE

7 updates